Illinois Business Developments

Illinois is the biggest markets in the Midwest and home to over 22,000 corporate headquarters, an active business scene, and more than 1.2 million small businesses, provides the infrastructure that businesses require to succeed in business today. The world's best infrastructure connects businesses with their customers and suppliers to highly skilled and knowledgeable workforces in various industries as well as an advanced manufacturing base - Illinois excels in a variety of areas such as clean and advanced agriculture, energy, IT life sciences logistics for transportation.

Illinois has seen tremendous expansion of foreign investments in recent years. Countries like Britain, Japan, Germany and China were among the most investing in Illinois; by 2023 this sum was greater than USD $13.2 billion in the agribusiness, manufacturing and manufacturing sectors in Illinois all by itself.

Since 2014, over $1 billion in incentives were distributed under Illinois Reimagining Energy and Vehicles program to companies providing electric vehicles and renewable energy production. In the last month, DCEO also awarded PsiQuantum Manufacturing with an incentive package worth more than $200 million for their brand new advanced 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 officially launch CZ Biohub Chicago - a revolutionary research hub located that is at the forefront of cutting-edge scientific research. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as to develop innovative therapeutics.

Governor JB Pritzker press release johnson and johnson Flender Corporation recently announced they are expanding their existing factory in Elgin and will create 50 full-time jobs while keeping the existing 140 full-time employees.

The Illinois Small Business Development Center 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 assists local entrepreneurs with assistance for starting or expanding their businesses by offering services like free workshops on business planning One-on-one counseling sessions with expert Business Advisors, and access to financing options.

State leaders in Indiana are pushing employers to offer better wages and benefits as a method of keeping child care workers employed nationwide which is a problem due to a shortage of employment. The decision comes after the closure of a care facility in Bronzeville that struggled to keep its staff.

Illinois Department of Labor also created an online tool to educate small businesses on lawful employment practices. Employers can search using keywords or browse categories on this site, and connect with state agencies and sources.

Illinois Business Development Authority (IBDA) is taking action to promote awareness of Illinois tax incentives to business expansion. They hosted an interactive webinar about this topic. The event was recorded. It will then appear on the website.