Illinois Business Developments

Illinois as the biggest marketplace in the Midwest and home to over 22,000 corporate headquarters, a vibrant startup scene and over 1.2 million small businesses, provides all the resources that global companies require to thrive in the modern business. From the world-class infrastructure that connects businesses with their suppliers and customers, to a talented workforce in various industries and an advanced manufacturing base - Illinois leads in many areas like advanced and clean technology, agriculture, energy, life sciences transportation logistics.

Illinois has seen tremendous foreign investment growth over recent years. Countries such as Britain, Japan, Germany and China were among the top countries investing in Illinois In 2023, this amount was over USD $13.2 billion in the agribusiness, manufacturing and manufacturing areas in Illinois Press - pressez.blog.fc2.com - alone.

Since 2014, nearly $1 billion in incentives were given out under Illinois' Reimagining Energy and Vehicles program to companies providing electric vehicles and clean energy production. This month, DCEO also provided PsiQuantum Manufacturing with an incentive package of more than $200 million to build a modern manufacturing facility in East Alton.

Governor JB Pritzker joined representatives from The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a groundbreaking research hub in the forefront of scientific research. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well and develop revolutionary therapies.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their current manufacturing facility in Elgin, creating 50 full-time jobs while keeping the 140 full-time jobs they have currently.

The Illinois Small Business Development Center at Southern Illinois University is funded through a collaborative agreement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center offers entrepreneurs in the area with support for the creation or expansion of their businesses with services that include free workshops on business planning, one-on-one counseling sessions with experienced Business Advisors as well as access to financing opportunities.

State leaders in Indiana are informing employers to provide higher pay and benefits as a means of keeping childcare workers in the country and facing a lack of employment. The decision comes after the closure of a child care center located in Bronzeville that struggled to keep its staff.

Illinois Department of Labor also has launched an online tool to educate small businesses on labor laws. Employers can search for keywords or browse categories on this site; as well as connect to state agencies and resources.

Illinois Business Development Authority (IBDA) is taking action to raise awareness of Illinois' tax incentives for business expansion. The IBDA hosted a webinar this week on the subject. It was recorded. The webinar will later become archived and posted on their site.