Illinois Business Developments

Illinois as the biggest markets in the Midwest and home to more than 2,000 corporate headquarters, a thriving startup scene and over 1.2 million small businesses, is home to the infrastructure that firms require to flourish in the current business climate. The world's best infrastructure connects companies with customers and suppliers to highly skilled and knowledgeable workforces in various industries and a thriving manufacturing base, Illinois leads in many areas like advanced and clean technology, agriculture, energy, life sciences logistics for transportation.

Illinois has experienced a tremendous increase in increase in foreign investment over the last few years. Countries like Britain, Japan, Germany and China were among the top countries invested in Illinois in 2023. By that time, the amount reached over USD $13.2 billion in agricultural, manufacturing, and other industries in Illinois all by itself.

In 2014, over $1 billion worth of incentives have been awarded under Illinois Reimagining Energy and Vehicles program to firms that supply electric vehicles and green energy production. Last month, DCEO also provided PsiQuantum Manufacturing with an incentive package of more than 200 million dollars for their new modern facility in East Alton.

Governor JB Pritzker accompanied by representatives of Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a cutting-edge research hub in the forefront of research. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well to develop innovative therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their manufacturing facility in Elgin and will create 50 full-time employees while maintaining 140 existing full-time positions intact.

The Illinois Small Business Development Center at Southern Illinois University is funded in part 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 in creating or expanding their businesses through services such as free business planning workshops and un press release - https://independent.academia.edu, one-on-one sessions with experienced Business Advisors and access to funding opportunities.

State officials in Indiana are insisting on employers offering higher pay and benefits as a way of keeping child care workers employed nationwide as they face a shortage of job. This comes following the closing of a child care center located in Bronzeville where it was difficult to retain staff.

Illinois Department of Labor also has launched an online tool to educate small businesses on employment laws. Employers can search by keyword or browse categories on this website, as well as connect to appropriate state agencies and other resources.

Illinois Business Development Authority (IBDA) is working to make people aware of Illinois tax incentives that can be used for business expansion. The IBDA hosted a webinar this week about this topic. The event was recorded and will become archived and posted on their site.