Illinois Business Developments
Illinois is the biggest markets in the Midwest and home to over two thousand corporate headquarters, a bustling startup scene, and over 1.2 million small businesses, provides all the resources that global firms require to flourish in business today. The world's best infrastructure connects companies to suppliers and customers, to a skilled workers in various fields and a thriving manufacturing base, Illinois excels in a variety of areas such as clean and advanced energy, agribusiness, IT life sciences logistics for transportation.
Illinois has witnessed a significant international investment growth in recent years. Countries like Britain, Japan, Germany and China were among those most invested in Illinois In 2023, this sum was greater than USD $13.2 billion across agricultural, manufacturing, and other industries in Illinois all by itself.
Since 2014, more than $1 billion in incentives were granted under Illinois' Reimagining Energy and Vehicles program to firms that supply electric vehicles and clean energy production. In the last month, DCEO also granted PsiQuantum Manufacturing with an incentive package of more than 200 million dollars for their new modern facility located in East Alton.
Governor JB Pritzker was joined by representatives from his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in press conference chicago bears (https://independent.academia.edu/Pressez) for the launch of CZ Biohub Chicago - a cutting-edge research hub that is at the forefront in scientific studies. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well as develop groundbreaking therapeutics.
Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current factory in Elgin that will result in 50 full-time jobs while keeping 140 existing full-time positions intact.
The Illinois Small Business Development Center at Southern Illinois University is funded by a co-operative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center provides entrepreneurs in the area with support for the creation or expansion of their businesses by offering services like free workshops on business planning, one-on-one counseling sessions with expert Business Advisors as well as access to financing options.
State leaders in Indiana are pushing employers to offer better salaries and benefits as a way to keep child care workers employed nationwide and facing a lack of jobs. This comes following the closing of a child care facility located in Bronzeville which struggled to retain staff.
Illinois Department of Labor also launched an online tool designed to help small businesses understand employment laws. Employers are able to search using keywords or browse categories on this site; as well as connect to appropriate state agencies and resources.
Illinois Business Development Authority (IBDA) is taking action to make people aware of Illinois tax incentives that can be used for business expansion. The IBDA hosted an interactive webinar about this topic. The event was recorded and will become archived and posted on their site.
