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Illinois Business Developments

Illinois, as the largest market 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 businesses require to succeed in the current business climate. From the world-class infrastructure that connects businesses to customers and suppliers to highly skilled workers in various fields as well as a modern manufacturing base, Illinois excels in a variety of areas including advanced and sustainable energy, agribusiness, IT life sciences, transportation logistics.

Illinois has seen a huge expansion of foreign investments in recent years. Countries like Britain, Japan, Germany and China were among the countries that most investing in Illinois in 2023. By that time, the sum was greater than USD $13.2 billion in the agribusiness, manufacturing and manufacturing industries in Illinois alone.

Since 2014, nearly $1 billion in incentives have been awarded under Illinois' Reimagining Energy and Vehicles program to firms that tractor supply press release (https://www.speedrun.com/user/Pressez) electric vehicles and clean energy production. In the last month, DCEO also awarded PsiQuantum Manufacturing with an incentive package of more than 200 million dollars for their new advanced facility 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 groundbreaking research hub in the forefront of research. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as and develop revolutionary therapies.

Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current production facility located in Elgin which will create 50 full-time employees while maintaining the 140 full-time jobs they have currently.

The Illinois Small Business Development Center at Southern Illinois University is funded by a co-operative 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 the creation or expansion of their businesses through programs such as free workshops on business planning and one-on-one sessions with expert Business Advisors and access to financing opportunities.

State leaders in Indiana are informing employers to provide higher pay and benefits as a means of keeping childcare workers working across the nation, who face a shortage of jobs. This comes following the closure of a care facility in Bronzeville which was struggling to retain employees.

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

Illinois Business Development Authority (IBDA) is taking steps to make people aware of Illinois tax incentives to business expansion. They hosted a webinar this week about this topic. The event was recorded. The webinar will later be available on their website.