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Illinois Business Developments

Illinois as the biggest marketplace in the Midwest and home to over 22,000 corporate headquarters, a vibrant startup scene and over 1.2 million small businesses, is home to all of the assets global firms require to flourish in the modern business. From world-class infrastructure which connects companies to suppliers and customers, to a skilled and knowledgeable workforces in various industries and a thriving manufacturing base, Illinois leads in many areas such as advanced and clean technology, agriculture, energy, life sciences and transportation logistics.

Illinois has seen a huge expansion of foreign investments in recent years. Countries such as Britain, Japan, Germany and China were among the top countries invested in Illinois; by 2023 this amount was over USD $13.2 billion across agricultural, manufacturing, and other industries in Illinois alone.

Since 2014, nearly $1 billion in incentives has been given out under Illinois' Reimagining Energy and Vehicles program to firms that supply electric vehicles and press release un; https://pressez.substack.com/about, clean energy production. In the last month, DCEO also provided PsiQuantum Manufacturing with an incentive package totaling over $200 million for their new advanced manufacturing facility located in East Alton.

Governor JB Pritzker was joined by representatives from 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 that is at the forefront in scientific studies. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the human development of tissues as well in developing revolutionary therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their existing factory in Elgin which will create 50 full-time jobs while keeping 140 existing

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 entrepreneurs from the local area with help in the creation or expansion of their businesses by offering services like free business planning workshops One-on-one counseling sessions with experienced Business Advisors and access financing opportunities.

State officials in Indiana are informing employers to provide higher salaries and benefits as a way of keeping child care workers employed nationwide as they face a shortage of jobs. This comes following the closing of a child care facility in Bronzeville that struggled to keep its employees.

Illinois Department of Labor also created an online tool to provide small-sized businesses with information on employment laws. Employers can search using keywords or browse categories on the site; as well as connect with state agencies and resources.

Illinois Business Development Authority (IBDA) is taking steps to make people aware of Illinois' tax incentives for business expansion. They hosted an interactive webinar about this topic. The event was recorded and will later become archived and posted on their site.