Illinois Business Developments
Illinois, as the largest marketplace in the Midwest and home to over 2000 corporate headquarters, a thriving startup scene, and over 1.2 million small businesses, is home to all of the assets global businesses need to be successful in business today. The world's best infrastructure connects companies to suppliers and customers to a skilled workforce across various industries and an advanced manufacturing base - illinois department of natural resources press releases (https://www.diigo.com/) leads in many areas including advanced and sustainable technology, agriculture, energy, life sciences, transportation logistics.
Illinois has witnessed a significant expansion of foreign investments in recent years. Countries like Britain, Japan, Germany and China were among those most investing in Illinois; by 2023 this sum was greater than USD $13.2 billion across agriculture, manufacturing and other sectors in Illinois all by itself.
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 awarded PsiQuantum Manufacturing with an incentive package of more than 200 million dollars for their new advanced facility in East Alton.
Governor JB Pritzker was present along with representatives from The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a innovative research hub that is that is at the forefront of cutting-edge scientific studies. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well in developing revolutionary therapeutics.
Governor JB Pritzker and Flender Corporation recently announced they are expanding their current production facility located in Elgin which will create 50 full-time employment while keeping the existing 140 full-time employees.
The Illinois Small Business Development Center located at Southern Illinois University is funded partly through a cooperative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center assists entrepreneurs in the area with support for the creation or expansion of their businesses with services that include free workshops on business planning, one-on-one counseling sessions with experienced Business Advisors and access to financing opportunities.
State officials in Indiana are informing employers to provide higher compensation and benefits as method of keeping child care workers in the country as they face a shortage of work. This follows the closing of a child care center in Bronzeville that struggled to keep its staff.
Illinois Department of Labor also launched an online tool designed to educate small businesses on the laws governing employment. Employers are able to search using keywords or browse categories on this website; and connect to state agencies and information sources.
Illinois Business Development Authority (IBDA) is working to promote awareness of Illinois tax incentives to business expansion by hosting an online webinar on this subject, which was recorded. The webinar will later appear on the website.
