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Illinois Business Developments

Illinois as the biggest market in the Midwest and the home of more than two thousand corporate headquarters, a vibrant entrepreneurial scene, and more than 1.2 million small-scale businesses, offers the infrastructure that companies require to thrive in today's competitive business. From world-class infrastructure that connects companies with suppliers and customers to a skilled workforce across various industries as well as an advanced manufacturing base, Illinois leads in many areas such as clean and advanced agricultural technology, energy, and life sciences, transportation logistics.

Illinois has witnessed a significant international investment growth in recent years. Countries such as Britain, Japan, Germany and China were among the countries that most investing in Illinois in 2023. By that time, the amount reached over USD $13.2 billion across the agribusiness, manufacturing and manufacturing areas in Illinois alone.

Since 2014, gov press release [https://www.diigo.com/profile/pressez] over $1 billion in incentives has been given out under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as renewable energy production. This month, DCEO also awarded PsiQuantum Manufacturing with an incentive package worth more than $200 million to build a modern manufacturing facility located in East Alton.

Governor JB Pritzker was joined by representatives from The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a cutting-edge research hub at the forefront of leading research. The 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 are expanding their existing manufacturing facility in Elgin that will result in 50 full-time employment while keeping the 140 full-time positions they currently have.

The Illinois Small Business Development Center located at Southern Illinois 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 for the creation or expansion of their businesses through programs such as free business planning workshops One-on-one counseling sessions with expert Business Advisors and access financing options.

State officials in Indiana are pushing employers to offer better compensation and benefits as method of keeping child care workers working across the nation and facing a lack of work. The move comes after the closing of a child care center located in Bronzeville which was struggling to retain employees.

Illinois Department of Labor also introduced an online tool to inform small-scale businesses about employment laws. Employers are able to search using keywords or browse through categories on this site; as well as connect to state agencies and resources.

Illinois Business Development Authority (IBDA) is working to promote awareness of Illinois' tax incentives for business expansion. The IBDA hosted an interactive webinar on this subject, which was recorded and will later appear on the website.