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Illinois Business Developments

Illinois is 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 businesses, provides all the resources global businesses need to be successful in the modern business. From world-class infrastructure that connects businesses to suppliers and customers to a skilled workforce across various industries as well as an advanced manufacturing base - Illinois has a leading position in many fields such as advanced and clean technology, agriculture, energy, life sciences logistics for transportation.

Illinois has witnessed a significant expansion of foreign investments in recent years. Countries like Britain, Japan, Germany and China were among those most invested in Illinois in 2023. By that time, the sum was greater than USD $13.2 billion across agriculture, manufacturing and other industries in Illinois all by itself.

In 2014, over $1 billion in incentives have been distributed under Illinois' Reimagining Energy and Vehicles program to businesses that offer electric vehicles and renewable energy production. This month, DCEO also awarded PsiQuantum Manufacturing with an incentive package totaling over $200 million for their new high-tech manufacturing facility located in East Alton.

Governor JB Pritzker was present along with representatives from Chan Zuckerberg Initiative, hkma press release - https://hashnode.com/@Pressez - the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to officially launch 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 human tissue development as well and develop revolutionary therapies.

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

The Illinois Small Business Development Center located at Southern Illinois University is funded by a co-operative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center offers entrepreneurs from the local area with help in starting or expanding their businesses with services that include free business planning workshops and one-on-one sessions with expert Business Advisors and access to financing opportunities.

State leaders in Indiana are encouraging employers to offer higher pay and benefits as a way to keep child care workers in the country and facing a lack of employment. This comes following the closing of a child care center in Bronzeville that struggled to keep its staff.

Illinois Department of Labor also created an online tool to help small businesses understand the laws governing employment. Employers can search using keywords or browse through categories on this website, as well as connect to the appropriate state agencies and other resources.

Illinois Business Development Authority (IBDA) is taking action to raise awareness of Illinois tax incentives that can be used for business expansion by hosting the IBDA's webinar this week on the subject. It was recorded. It will then be available on their website.