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Illinois Business Developments

Illinois, as the largest market of the Midwest and home to more than 22,000 corporate headquarters, a bustling startup scene, and over 1.2 million small businesses, provides all of the assets global firms require to flourish in business today. From world-class infrastructure which connects companies to suppliers and customers to a skilled workers in various fields and a thriving manufacturing base, Illinois excels in a variety of areas such as clean and advanced agriculture, energy, IT life sciences, transportation logistics.

Illinois has witnessed a significant international investment growth 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 total was more than USD $13.2 billion across the agribusiness, manufacturing and manufacturing areas in Illinois alone.

Since 2014, nearly $1 billion worth of incentives have been awarded under Illinois Reimagining Energy and Vehicles program to companies providing electric vehicles and green energy production. Last month, DCEO also granted PsiQuantum Manufacturing with an incentive package totaling over 200 million dollars for their new modern 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 innovative research hub that is that is at the forefront in scientific studies. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as as develop groundbreaking therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their manufacturing facility in Elgin and will create 50 full-time jobs while keeping 140 existing full-time positions intact.

The Illinois Small Business Development Center at Southern illinois marathon news (www.diigo.com) University is funded by a co-operative arrangement 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 beginning or expanding their business through services such as free business planning workshops One-on-one counseling sessions with expert Business Advisors as well as access to financing opportunities.

State leaders in Indiana are encouraging employers to offer higher compensation and benefits as way to keep child care workers employed nationwide as they face a shortage of jobs. This comes following the closure of a child care center in Bronzeville where it was difficult to retain staff.

Illinois Department of Labor also introduced an online tool to educate small businesses on labor laws. Employers are able to search using keywords or browse through categories on this website; and connect to state agencies and resources.

Illinois Business Development Authority (IBDA) is working to promote awareness of Illinois' tax incentives for business expansion. They hosted the IBDA's webinar this week on this subject, which was recorded. It will then become archived and posted on their site.