Exciting Commercial Developments in the Prairie State Making Waves Rig…
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Illinois Business Developments
Illinois as the biggest marketplace in the Midwest and the home of more than two thousand corporate headquarters, a vibrant startup scene, and over 1.2 million small-scale businesses, offers all the resources that global firms require to flourish in the modern business. From world-class infrastructure which connects companies to suppliers and customers to skilled workers in various fields and an advanced manufacturing base, Illinois is a leader in many areas including advanced and sustainable agricultural technology, energy, and life sciences transportation logistics.
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 most invested in Illinois; by 2023 this sum was greater than USD $13.2 billion across manufacturing, agribusiness and other sectors in Illinois all by itself.
In 2014, over $1 billion in incentives have been awarded 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 to build a advanced manufacturing facility located in East Alton.
Governor JB Pritzker accompanied by representatives of his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a cutting-edge research hub that is at the forefront in scientific studies. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well and develop revolutionary therapies.
Governor JB Pritzker and Flender Corporation recently announced they have expanded their factory in Elgin, creating 50 full-time employees while maintaining the existing 140 full-time employees.
The Illinois Small Business Development Center located at Southern Illinois University is funded through a collaborative agreement 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 starting or expanding their businesses through programs such as free business planning workshops, one-on-one counseling sessions with experienced Business Advisors, and access to financing options.
State leaders in Indiana are insisting on employers offering higher wages and benefits as a means of keeping childcare workers employed nationwide and facing a lack of work. The move comes after the closing of a child care facility located in Bronzeville which struggled to retain staff.
Illinois Department of Labor also launched an online tool designed to provide small-sized businesses with information on employment laws. Employers can search for keywords or browse categories on this website; and connect with state agencies and resources.
Illinois Business Development Authority (IBDA) is working to promote awareness of Illinois' tax incentives for expanding businesses by hosting the IBDA's webinar this week on this subject, which was recorded. The webinar will later be archived on their website.
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