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Illinois Business Developments

Illinois is the most populous marketplace in the Midwest and home to over 2,000 corporate headquarters, a thriving business scene, and more than 1.2 million small enterprises, has all the resources global businesses require to succeed in today's competitive business. The world's best infrastructure connects companies to suppliers and customers, to a skilled workers in various fields and an advanced manufacturing base - Illinois has a leading position in many fields including advanced and sustainable energy, agribusiness, IT life sciences logistics for transportation.

Illinois has witnessed a significant increase in foreign investment over the last few years. Countries like Britain, press release video - https://independent.academia.edu/Pressez - Japan, Germany and China were among the top countries invested in Illinois and by 2023, this amount was over USD $13.2 billion across manufacturing, agribusiness and other sectors in Illinois all by itself.

In 2014, over $1 billion in incentives were given out under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and clean energy production. Last month, DCEO also granted PsiQuantum Manufacturing with an incentive package worth more than $200 million to build a modern facility located in East Alton.

Governor JB Pritzker was joined by representatives from his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to launch CZ Biohub Chicago - a innovative research hub that is at the forefront of leading research. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well to develop innovative therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their current factory in Elgin which will create 50 full-time employees while maintaining the existing 140 full-time employees.

The Illinois Small Business Development Center at Southern Illinois University is funded in part through a cooperative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The center provides entrepreneurs in the area with support for starting or expanding their businesses with services that include free business planning workshops and one-on-one sessions with experienced Business Advisors as well as access to financing options.

State leaders in Indiana are insisting on employers offering higher pay and benefits as a method of keeping child care workers employed nationwide which is a problem due to a shortage of employment. The move comes after the closure of a child care center located in Bronzeville where it was difficult to retain employees.

Illinois Department of Labor also created an online tool to educate small businesses on lawful employment practices. Employers are able to search using keywords or browse categories on this website; and connect with state agencies and sources.

Illinois Business Development Authority (IBDA) is taking steps to raise awareness of Illinois' tax incentives for expanding businesses by hosting the IBDA's webinar this week on this subject, which was recorded. It will then be archived on their website.