Illinois Business Developments

Illinois is the biggest market in the Midwest and home to over 2000 corporate headquarters, a thriving startup scene and over 1.2 million small-scale businesses, offers all the resources global companies require to thrive in business today. From world-class infrastructure that connects companies to suppliers and customers to talented workforce in various industries as well as a modern manufacturing base, illinois dcfs press release is a leader in many areas including advanced and sustainable energy, agribusiness, IT life sciences transportation logistics.

Illinois has experienced a tremendous increase in expansion of foreign investments in recent years. Countries such as Britain, Japan, Germany and China were among those most investing in Illinois and by 2023, this amount was over USD $13.2 billion across manufacturing, agribusiness and other areas in Illinois all by itself.

Since 2014, more than $1 billion in incentives were given out under Illinois' Reimagining Energy and Vehicles program to companies providing electric vehicles and clean energy production. Last month, DCEO also granted PsiQuantum Manufacturing with an incentive package totaling over $200 million for their brand new state-of-the-art facility located in East Alton.

Governor JB Pritzker accompanied by representatives of his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a groundbreaking research hub at the forefront of leading 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 to develop innovative therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current production facility located in Elgin which will create 50 full-time positions while keeping 140 existing full-time positions intact.

The Illinois Small Business Development Center located at Southern Illinois University is funded in part through a cooperative arrangement 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 business planning workshops individual 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 method of keeping child care workers working across the nation which is a problem due to a shortage of employment. The decision comes after the closure of a child care facility in Bronzeville that struggled to keep its staff.

Illinois Department of Labor also introduced an online tool to provide small-sized businesses with information on the laws governing employment. Employers can search using keywords or browse through categories on this site; as well as connect with state agencies and other resources.

Illinois Business Development Authority (IBDA) is working to raise awareness of Illinois' tax incentives for business expansion. The IBDA hosted the IBDA's webinar this week on the subject. The webinar was recorded. The webinar will later appear on the website.