Illinois Business Developments
Illinois as the biggest market 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 global companies require to thrive in today's competitive business. From world-class infrastructure that connects businesses to suppliers and customers, to a skilled and knowledgeable workforces in various industries and a thriving manufacturing base, Illinois excels in a variety of areas such as clean and advanced technology, agriculture, energy, life sciences logistics for transportation.
Illinois has seen a huge foreign investment growth over recent years. Countries like Britain, Japan, Germany and China were among the countries that most investing in Illinois and by 2023, this amount was over USD $13.2 billion across agricultural, manufacturing, and other sectors in illinois migrant news (https://start.me/w/mBRA6P) all by itself.
Since 2014, over $1 billion in incentives were distributed under Illinois Reimagining Energy and Vehicles program to firms that supply electric vehicles and green energy production. The program was announced 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 located 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 inaugurate CZ Biohub Chicago - a innovative research hub that is that is at the forefront in research. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as in developing revolutionary therapeutics.
Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current manufacturing facility in Elgin, creating 50 full-time positions while keeping the existing 140 full-time employees.
The Illinois Small Business Development Center located at Southern Illinois University is funded by a co-operative agreement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center assists entrepreneurs from the local area with help in beginning or expanding their business with services that include free business planning workshops, one-on-one counseling sessions with expert Business Advisors and access financing options.
State leaders in Indiana are encouraging employers to offer higher wages and benefits as a method of keeping child care employees in the United States as they face a shortage of employment. This comes following the closing of a child care center in Bronzeville which was struggling to retain employees.
Illinois Department of Labor also launched an online tool designed to help small businesses understand the laws governing employment. Employers can search for keywords or browse categories on the website; and connect to appropriate state agencies and other resources.
Illinois Business Development Authority (IBDA) is taking action to make people aware of Illinois tax incentives to business expansion. They hosted an online webinar about this topic. The event was recorded and will be archived on their website.
