Illinois Business Developments
Illinois, as the largest market in the Midwest and home to over 22,000 corporate headquarters, a thriving startup scene and over 1.2 million small enterprises, has all the resources that global businesses require to succeed in business today. The world's best infrastructure connects businesses to suppliers and customers, to a skilled and knowledgeable workforces in various industries and a thriving manufacturing base - Illinois excels in a variety of areas including advanced and sustainable agriculture, energy, IT life sciences and transportation logistics.
Illinois has witnessed a significant increase in foreign investment over the last few years. Countries such as Britain, Japan, Germany and China were among the countries that most investing in Illinois; by 2023 this amount reached over USD $13.2 billion in the agribusiness, manufacturing and manufacturing sectors in Illinois alone.
In 2014, over $1 billion worth of incentives have been given out under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and renewable energy production. This month, DCEO also rewarded PsiQuantum Manufacturing with an incentive package of more than 200 million dollars for their new state-of-the-art manufacturing 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 officially launch CZ Biohub Chicago - a cutting-edge research hub in the forefront of scientific studies. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the human development of tissues as well and develop revolutionary therapies.
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 140 existing full-time positions intact.
The illinois mayor news (check out the post right here) Small Business Development Center at Southern Illinois University is funded through a collaborative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center offers local entrepreneurs with assistance for starting or expanding their businesses with services that include free workshops on business planning, one-on-one counseling sessions with expert Business Advisors and access to financing options.
State leaders in Indiana are insisting on employers offering higher wages and benefits as a method of keeping child care workers in the country and facing a lack of work. This comes following the closing of a child care center located in Bronzeville that struggled to keep its staff.
Illinois Department of Labor also has launched an online tool to help small businesses understand the laws governing employment. Employers can search by keyword or browse categories on this site; as well as connect to appropriate state agencies and sources.
Illinois Business Development Authority (IBDA) is taking steps to promote awareness of Illinois tax incentives to expanding businesses by hosting the IBDA's webinar this week on the subject. The webinar was recorded and will later be archived on their website.
