Illinois Business Developments
Illinois, 2025 4Runner press release (https://Start.me/w/mBRA6P) as the largest market in the Midwest and home to more than 2,000 corporate headquarters, a vibrant business scene, and more than 1.2 million small businesses, is home to all the resources global companies require to thrive in the current business climate. From world-class infrastructure which connects companies to customers and suppliers to highly skilled and knowledgeable workforces in various industries as well as a modern manufacturing base - Illinois leads in many areas such as advanced and clean agricultural technology, energy, and 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 the top countries invested in Illinois In 2023, this sum was greater than USD $13.2 billion in agricultural, manufacturing, and other industries in Illinois alone.
In 2014, over $1 billion in incentives have been awarded under Illinois Reimagining Energy and Vehicles program to companies providing electric vehicles and clean energy production. The program was announced last month. DCEO also rewarded PsiQuantum Manufacturing with an incentive package of more than 200 million dollars for their new high-tech 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 officially launch CZ Biohub Chicago - a innovative research hub that is that is at the forefront in scientific research. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as and develop revolutionary therapies.
Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current plant for manufacturing in Elgin and will create 50 full-time positions while keeping the 140 full-time positions they currently have.
The Illinois Small Business Development Center at Southern Illinois University is funded through a collaborative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center offers entrepreneurs in the area with support for beginning or expanding their business through programs such as free workshops on business planning One-on-one counseling sessions with expert Business Advisors and access funding opportunities.
State officials in Indiana are encouraging employers to offer higher compensation and benefits as way of keeping child care workers in the country, who face a shortage of jobs. The move comes after the closing of a child care center located in Bronzeville which was struggling to retain staff.
Illinois Department of Labor also has launched an online tool to inform small-scale businesses about the laws governing employment. Employers can search by keyword or browse through categories on this site, and connect with state agencies and resources.
Illinois Business Development Authority (IBDA) is working to increase awareness about Illinois' tax incentives for business expansion by hosting the IBDA's webinar this week on this subject, which was recorded. It will then be archived on their website.
