Illinois Business Developments

Illinois, as the largest market in the Midwest and the home of more than 2000 corporate headquarters, a vibrant entrepreneurial scene, and more than 1.2 million small businesses, provides all the resources that global firms require to flourish in business today. From world-class infrastructure which connects businesses with their customers and suppliers to highly skilled and knowledgeable workforces in various industries as well as a modern manufacturing base, Illinois excels in a variety of areas like advanced and clean agricultural technology, energy, and life sciences transportation logistics.

Illinois has seen tremendous expansion of foreign investments in recent years. Countries such as Britain, Japan, Germany and China were among those most invested in Illinois In 2023, this sum was greater than USD $13.2 billion in agriculture, manufacturing and other sectors in Illinois all by itself.

Since 2014, over $1 billion in incentives have been given out under Illinois Reimagining Energy and Vehicles program to firms that supply electric vehicles and clean energy production. This month, DCEO also rewarded PsiQuantum Manufacturing with an incentive package worth more than 200 million dollars for their new state-of-the-art manufacturing facility located 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 launch CZ Biohub Chicago - a revolutionary research hub located in the forefront of scientific studies. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as as develop groundbreaking therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their production facility located in Elgin which will create 50 full-time employees while maintaining the existing 140 full-time employees.

The Illinois Small Business Development Center at Southern illinois football press conference (pressez.blog.fc2.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 provides local entrepreneurs with assistance in the creation or expansion of their businesses through services such as free workshops on business planning, one-on-one counseling sessions with experienced Business Advisors and access funding opportunities.

State officials in Indiana are informing employers to provide higher salaries and benefits as a way of keeping child care employees in the United States as they face a shortage of employment. The decision comes after the closing of a child care facility in Bronzeville that struggled to keep its staff.

Illinois Department of Labor also introduced an online tool to provide small-sized businesses with information on labor laws. Employers can search for keywords or browse through categories on this website, as well as connect to the appropriate state agencies and sources.

Illinois Business Development Authority (IBDA) is working to raise awareness of Illinois' tax incentives for business expansion. The IBDA hosted an interactive webinar on the subject. The webinar was recorded. It will then appear on the website.