Illinois Business Developments
Illinois is the biggest marketplace in the Midwest and the home of more than two thousand corporate headquarters, a bustling business scene, and more than 1.2 million small-scale businesses, offers all the resources that global firms require to flourish in today's competitive business. From world-class infrastructure which connects businesses to suppliers and customers to skilled and knowledgeable workforces in various industries and an advanced manufacturing base - Illinois is a leader in many areas like advanced and clean technology, agriculture, energy, life sciences logistics for transportation.
Illinois has witnessed a significant international investment growth in recent years. Countries such as Britain, Japan, Germany and China were among the most investing in Illinois In 2023, this sum was greater than USD $13.2 billion in manufacturing, agribusiness and other areas in Illinois alone.
Since 2014, more than $1 billion worth of incentives have been granted under Illinois' Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as renewable energy production. In the last month, DCEO also rewarded PsiQuantum Manufacturing with an incentive package worth more than $200 million for their new high-tech facility located 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 revolutionary research hub located that is at the forefront of cutting-edge scientific studies. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well in developing revolutionary therapeutics.
Governor JB Pritzker and Flender Corporation recently announced they have 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 partly through a cooperative agreement among U.S. Small Business Administration, Illinois Department of Commerce and ispr press release (independent.academia.edu) Economic Opportunity and Southern Illinois University. The Center offers local entrepreneurs with assistance for creating or expanding their businesses by offering services like free workshops on business planning and one-on-one sessions with expert Business Advisors and access funding opportunities.
State officials in Indiana are informing employers to provide higher pay and benefits as a way of keeping child care workers working across the nation and facing a lack of job. The move comes after the closure of a child care facility located in Bronzeville which struggled to retain employees.
Illinois Department of Labor also launched an online tool designed to educate small businesses on employment laws. Employers are able to search using keywords or browse categories on this site; as well as connect to appropriate state agencies and information sources.
Illinois Business Development Authority (IBDA) has taken steps to increase awareness about Illinois tax incentives for business expansion. The IBDA hosted an online webinar about this topic. The event was recorded. It will then be available on their website.
