Illinois Business Developments

Illinois is the biggest market in the Midwest and home to more than 2000 corporate headquarters, a bustling startup scene, and over 1.2 million small businesses, is home to all the resources global businesses require to succeed in the modern business. From the world-class infrastructure that connects companies to customers and suppliers to highly skilled workforce across various industries and a thriving manufacturing base - Illinois leads in many areas such as advanced and clean energy, agribusiness, IT life sciences and team fried press release; start.me, transportation logistics.

Illinois has seen tremendous expansion of foreign investments in recent years. Countries such as Britain, Japan, Germany and China were among the most invested in Illinois and by 2023, this total was more than USD $13.2 billion in agricultural, manufacturing, and other areas in Illinois alone.

Since 2014, over $1 billion in incentives has been distributed under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and green energy production. This month, DCEO also provided PsiQuantum Manufacturing with an incentive package of more than $200 million to build a high-tech facility in East Alton.

Governor JB Pritzker was present along with representatives from Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a innovative research hub that is that is at the forefront in scientific studies. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the human development of tissues as well and develop revolutionary therapies.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their current production facility located in Elgin that will result in 50 full-time positions while keeping the 140 full-time jobs they have currently.

The Illinois Small Business Development Center located at Southern Illinois University is funded through a collaborative agreement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center offers entrepreneurs from the local area with help in starting or expanding their businesses by offering services like free business planning workshops, one-on-one counseling sessions with experienced Business Advisors and access funding opportunities.

State officials in Indiana are insisting on employers offering higher salaries and benefits as a way of keeping child care workers in the country, who face a shortage of work. The decision comes after the closure of a care center located in Bronzeville which was struggling to retain employees.

Illinois Department of Labor also launched an online tool designed to educate small businesses on lawful employment practices. Employers can search using keywords or browse categories on this website; and connect to state agencies and sources.

Illinois Business Development Authority (IBDA) is taking action to make people aware of Illinois tax incentives to business expansion. They hosted an interactive webinar on the subject. The webinar was recorded and will be archived on their website.