Illinois Business Developments

Illinois, as the largest market of the Midwest and home to more than 22,000 corporate headquarters, a thriving business scene, and more than 1.2 million small enterprises, has all the resources that global businesses require to succeed in business today. From world-class infrastructure which connects businesses to suppliers and customers, to a talented workforce in various industries and a thriving manufacturing base - Illinois excels in a variety of areas like advanced and clean agricultural technology, energy, and life sciences transportation logistics.

Illinois has witnessed a significant expansion of foreign investments in recent years. Countries like Britain, Japan, Germany and China were among the countries that most invested in Illinois and by 2023, this amount was press release over the wire USD $13.2 billion in agriculture, manufacturing and other sectors in Illinois all by itself.

Since 2014, over $1 billion in incentives were distributed under Illinois' Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as renewable energy production. Last month, DCEO also granted PsiQuantum Manufacturing with an incentive package totaling over $200 million for their new advanced manufacturing facility located in East Alton.

Governor JB Pritzker was present along with representatives from Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a cutting-edge 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 the development of human tissues as well and develop revolutionary therapies.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their current plant for manufacturing in Elgin and will create 50 full-time jobs while keeping 140 existing full-time positions intact.

The Illinois Small Business Development Center at Southern Illinois University is funded by a co-operative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center provides entrepreneurs in the area with support for the creation or expansion of their businesses through programs such as free business planning workshops, one-on-one counseling sessions with expert Business Advisors as well as access to funding opportunities.

State officials in Indiana are pushing employers to offer better pay and benefits as a way of keeping child care employees in the United States as they face a shortage of employment. This comes following the closure of a child care facility in Bronzeville which struggled to retain employees.

Illinois Department of Labor also launched an online tool designed to help small businesses understand labor laws. Employers can search by keyword or browse through categories on this website, as well as connect with state agencies and other resources.

Illinois Business Development Authority (IBDA) is taking steps to make people aware of Illinois' tax incentives for expanding businesses by hosting an online webinar on the subject. It was recorded. It will then be archived on their website.