Illinois Business Developments
Illinois as the biggest marketplace in the Midwest and home to more than two thousand corporate headquarters, an active business scene, and more than 1.2 million small businesses, is home to all the resources that global businesses require to succeed in today's competitive business. From world-class infrastructure which connects companies to suppliers and customers to a skilled workers in various fields and an advanced manufacturing base, Illinois is a leader in many areas such as clean and advanced agriculture, energy, IT life sciences logistics for transportation.
Illinois has experienced a tremendous increase in increase in foreign investment over the last few years. Countries such as Britain, Japan, Germany and China were among the top countries investing in Illinois; by 2023 this amount was over USD $13.2 billion in manufacturing, agribusiness and other sectors in Illinois alone.
Since 2014, nearly $1 billion worth of incentives have been granted under Illinois Reimagining Energy and Vehicles program to companies providing electric vehicles and green energy production. This month, DCEO also granted PsiQuantum Manufacturing with an incentive package totaling over $200 million to build a advanced 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 groundbreaking research hub that is at the forefront in scientific research. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well and develop revolutionary therapies.
Governor JB Pritzker and Flender Corporation recently announced they are expanding their current manufacturing facility in Elgin, creating 50 full-time jobs while keeping the existing 140 full-time employees.
The Illinois Small Business Development Center at Southern Illinois University is funded partly through a cooperative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center assists entrepreneurs in the area with support for beginning or expanding their business with services that include free workshops on business planning, press release dreamm-7 (independent.academia.edu) one-on-one counseling sessions with experienced Business Advisors and access financing options.
State officials in Indiana are pushing employers to offer better wages and benefits as a means of keeping childcare workers working across the nation and facing a lack of job. The move comes after the closing of a children's care center in Bronzeville which was struggling to retain staff.
Illinois Department of Labor also created an online tool to provide small-sized businesses with information on lawful employment practices. Employers can search for keywords or browse through categories on this website, as well as connect to appropriate state agencies and sources.
Illinois Business Development Authority (IBDA) is taking steps to raise awareness of Illinois tax incentives that can be used for business expansion by hosting a webinar this week on the subject. It was recorded. It will then appear on the website.
