Illinois Business Developments
Illinois is the biggest marketplace in the Midwest and home to more than two thousand corporate headquarters, an active startup scene, and over 1.2 million small-scale businesses, offers all the resources that global businesses need to be successful in the modern business. From world-class infrastructure that connects companies with suppliers and customers, to a skilled and knowledgeable workforces in various industries as well as an advanced manufacturing base - Illinois excels in a variety of areas including advanced and sustainable energy, agribusiness, Press Release Dateline (Https://Pressez.Substack.Com/) IT life sciences logistics for transportation.
Illinois has witnessed a significant international investment growth in recent years. Countries such as Britain, Japan, Germany and China were among the top countries investing in Illinois and by 2023, this total was more than USD $13.2 billion in the agribusiness, manufacturing and manufacturing areas in Illinois all by itself.
Since 2014, more than $1 billion in incentives has been distributed under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and renewable energy production. This month, DCEO also awarded PsiQuantum Manufacturing with an incentive package totaling over $200 million for their new modern manufacturing facility located in East Alton.
Governor JB Pritzker accompanied by representatives of The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to launch CZ Biohub Chicago - a cutting-edge research hub at the forefront of leading scientific studies. The initiative 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 and Flender Corporation recently announced they are expanding their existing plant for manufacturing 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 partly through a cooperative arrangement 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 starting or expanding their businesses with services that include free business planning workshops and one-on-one sessions with expert Business Advisors, and access to financing options.
State officials in Indiana are insisting on employers offering higher salaries and benefits as a way to keep child care employees in the United States, who face a shortage of employment. This comes following the closure of a care facility in Bronzeville which struggled to retain staff.
Illinois Department of Labor also has launched an online tool to educate small businesses on lawful employment practices. Employers are able to search using keywords or browse categories on the site; as well as connect to appropriate state agencies and information sources.
Illinois Business Development Authority (IBDA) is working to promote awareness of Illinois tax incentives that can be used for expanding businesses by hosting an interactive webinar on this subject, which was recorded and will be available on their website.
