Illinois Business Developments
Illinois is the most populous market in the Midwest and home to over two thousand corporate headquarters, a bustling entrepreneurial scene, and more than 1.2 million small enterprises, has all of the assets global firms require to flourish in today's competitive business. From world-class infrastructure which connects businesses to suppliers and customers, to a skilled workers in various fields as well as an advanced manufacturing base - Illinois has a leading position in many fields such as advanced and clean energy, agribusiness, IT life sciences, transportation logistics.
Illinois has witnessed a significant foreign investment growth over recent years. Countries such as Britain, Japan, Germany and China were among those most investing in Illinois; by 2023 this sum was greater than USD $13.2 billion in manufacturing, agribusiness and other industries in Illinois all by itself.
Since 2014, over $1 billion in incentives has been given out under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as clean energy production. In the last month, DCEO also provided PsiQuantum Manufacturing with an incentive package totaling over $200 million for their brand new modern 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 cutting-edge research hub that is at the forefront of cutting-edge research. 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 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 which will create 50 full-time employment while keeping the existing 140 full-time employees.
The Illinois Small Business Development Center at Southern illinois valley News obituaries (www.speedrun.com) University is funded partly through a cooperative 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 creating or expanding their businesses with services that include free workshops on business planning One-on-one counseling sessions with expert Business Advisors, and access to funding opportunities.
State officials in Indiana are insisting on employers offering higher pay and benefits as a means of keeping childcare workers employed nationwide, who face a shortage of jobs. The decision comes after the closing of a children's care center in Bronzeville which struggled to retain staff.
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 the appropriate state agencies and information sources.
Illinois Business Development Authority (IBDA) is taking steps to make people aware of Illinois tax incentives to business expansion. The IBDA hosted an interactive webinar on the subject. It was recorded. It will then become archived and posted on their site.
