Illinois Business Developments
Illinois is the biggest market of the Midwest and home to more than 2000 corporate headquarters, a vibrant entrepreneurial scene, and more than 1.2 million small businesses, provides the infrastructure that firms require to flourish in the modern business. From world-class infrastructure which connects companies with suppliers and customers, to a skilled workers in various fields and an advanced manufacturing base - Illinois has a leading position in many fields such as advanced and clean technology, agriculture, energy, life sciences, transportation logistics.
Illinois has seen a huge expansion of foreign investments in recent years. Countries like Britain, Japan, Germany and China were among those most investing in Illinois; by 2023 this amount reached over USD $13.2 billion in agriculture, manufacturing and other areas in Illinois alone.
Since 2014, more than $1 billion in incentives were awarded 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 that was worth over $200 million for their new advanced manufacturing facility located in East Alton.
Governor JB Pritzker was present along with representatives from his organization, 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 of cutting-edge scientific studies. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as in developing revolutionary therapeutics.
Governor JB Pritzker and Flender Corporation recently announced they are expanding their current manufacturing facility in Elgin that will result in 50 full-time employees while maintaining 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 provides local entrepreneurs with assistance for press release dated 04 may 2018 - https://pressez.blog.fc2.com, creating or expanding their businesses by offering services like free business planning workshops and one-on-one sessions with expert Business Advisors, and access to funding opportunities.
State officials in Indiana are encouraging employers to offer higher salaries and benefits as a way to keep child care employees in the United States which is a problem due to a shortage of work. The move comes after the closure of a child care center in Bronzeville which struggled to retain staff.
Illinois Department of Labor also introduced an online tool to inform small-scale businesses about labor laws. Employers can search for keywords or browse through categories on this website, as well as connect with state agencies and resources.
Illinois Business Development Authority (IBDA) is working to increase awareness about Illinois' tax incentives for expanding businesses by hosting an online webinar on the subject. The webinar was recorded. It will then be archived on their website.
