Illinois Business Developments

Illinois is the biggest markets in the Midwest and the home of more than 2,000 corporate headquarters, a thriving entrepreneurial scene, and more than 1.2 million small businesses, is home to all of the assets global companies require to thrive in business today. From world-class infrastructure which connects businesses with their suppliers and customers, to a skilled workers in various fields and an advanced manufacturing base - Illinois has a leading position in many fields including advanced and sustainable technology, agriculture, energy, life sciences, transportation logistics.

Illinois has experienced a tremendous increase in foreign investment growth over recent years. Countries like Britain, Japan, Germany and China were among the top countries invested in Illinois; by 2023 this amount was over USD $13.2 billion across the agribusiness, manufacturing and manufacturing industries in Illinois alone.

Since 2014, over $1 billion in incentives has been given out under Illinois' Reimagining Energy and Vehicles program to businesses that offer electric vehicles and clean energy production. In the last month, DCEO also provided PsiQuantum Manufacturing with an incentive package that was worth over 200 million dollars for their new high-tech manufacturing facility in East Alton.

Governor JB Pritzker was joined by representatives from The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to officially launch CZ Biohub Chicago - a innovative research hub that is that is at the forefront in scientific research. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as to develop innovative therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their existing manufacturing facility in Elgin which will create 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 partly through a cooperative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center offers entrepreneurs from the local area with help in beginning or expanding their business by offering services like free workshops on business planning individual counseling sessions with experienced Business Advisors and access to funding opportunities.

State officials in Indiana are pushing employers to offer better pay and benefits as a method of keeping child care employees in the United States as they face a shortage of jobs. The decision comes after the closure of a child care center in Bronzeville which struggled to retain employees.

Illinois Department of Labor also launched an online tool designed to provide small-sized businesses with information on lawful employment practices. Employers can search using keywords or browse through categories on this website, as well as connect to appropriate state agencies and information sources.

Illinois Press (mouse click the next site) Business Development Authority (IBDA) is working to raise awareness of Illinois tax incentives to business expansion by hosting a webinar this week about this topic. The event was recorded and will be archived on their website.