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Illinois Business Developments

Illinois is the biggest marketplace in the Midwest and home to more than two thousand corporate headquarters, an active entrepreneurial scene, and more than 1.2 million small businesses, provides all the resources that global businesses require to succeed in the modern business. From the world-class infrastructure that connects companies with suppliers and customers to skilled workers in various fields and an advanced manufacturing base - Illinois is a leader in many areas like advanced and clean agriculture, energy, IT life sciences and transportation logistics.

Illinois has witnessed a significant increase in foreign investment over the last few years. Countries like Britain, Japan, Germany and China were among those most invested in Illinois and by 2023, this total was more than USD $13.2 billion across manufacturing, agribusiness and other sectors in Illinois alone.

Since 2014, nearly $1 billion in incentives has been granted under illinois dnr Press Releases (Https://hashnode.com/) Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as clean energy production. In the last month, DCEO also granted PsiQuantum Manufacturing with an incentive package totaling over $200 million for their brand new state-of-the-art manufacturing facility located in East Alton.

Governor JB Pritzker was present along with representatives from The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a cutting-edge research hub at the forefront of leading scientific studies. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well in developing revolutionary therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their manufacturing facility in Elgin which will create 50 full-time employees while maintaining the 140 full-time positions they currently have.

The Illinois Small Business Development Center at Southern Illinois University is funded partly through a cooperative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center assists entrepreneurs from the local area with help in starting or expanding their businesses through services such as free business planning workshops individual counseling sessions with expert Business Advisors as well as access to financing opportunities.

State leaders in Indiana are pushing employers to offer better compensation and benefits as way to keep child care workers in the country, who face a shortage of job. This follows the closing of a child care center located in Bronzeville which was struggling to retain employees.

Illinois Department of Labor also has launched an online tool to provide small-sized businesses with information on labor laws. Employers are able to search using keywords or browse categories on the website, as well as connect with state agencies and information sources.

Illinois Business Development Authority (IBDA) is working to increase awareness about Illinois tax incentives to business expansion by hosting a webinar this week about this topic. The event was recorded and will be available on their website.