Illinois Business Developments
Illinois as the biggest markets in the Midwest and home to more than two thousand corporate headquarters, an active entrepreneurial scene, and more than 1.2 million small enterprises, has all the resources global companies require to thrive in the current business climate. From world-class infrastructure that connects companies with suppliers and customers to a skilled and knowledgeable workforces in various industries as well as a modern manufacturing base - Illinois has a leading position in many fields such as clean and advanced technology, agriculture, energy, life sciences, transportation logistics.
Illinois has seen a huge international investment growth in recent years. Countries such as Britain, Japan, Germany and 3shape press release (https://www.speedrun.com/) China were among the countries that most investing in Illinois In 2023, this amount was over USD $13.2 billion across manufacturing, agribusiness and other industries in Illinois all by itself.
Since 2014, over $1 billion in incentives were distributed under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and clean energy production. Last month, DCEO also rewarded PsiQuantum Manufacturing with an incentive package of more than 200 million dollars for their new 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 innovative research hub that is in the forefront of 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 to develop innovative therapeutics.
Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current plant for manufacturing in Elgin that will result in 50 full-time employees while maintaining the 140 full-time positions they currently have.
The Illinois Small Business Development Center located at Southern Illinois University is funded through a collaborative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The center provides entrepreneurs from the local area with help in beginning or expanding their business through programs such as free business planning workshops One-on-one counseling sessions with experienced Business Advisors and access to financing options.
State officials in Indiana are insisting on employers offering higher salaries and benefits as a way of keeping child care employees in the United States and facing a lack of work. This comes following the closure of a care center located in Bronzeville that struggled to keep its staff.
Illinois Department of Labor also created an online tool to help small businesses understand the laws governing employment. Employers can search using keywords or browse categories on this website, as well as connect to the appropriate state agencies and information sources.
Illinois Business Development Authority (IBDA) is working to increase awareness about Illinois tax incentives for business expansion by hosting an interactive webinar on the subject. The webinar was recorded. The webinar will later be archived on their website.
