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Illinois Business Developments

Illinois is the most populous market of the Midwest and home to more than 22,000 corporate headquarters, an active startup scene and over 1.2 million small enterprises, has the infrastructure that businesses require to succeed in the modern business. From the world-class infrastructure that connects businesses to suppliers and customers, to a skilled workers in various fields and an advanced manufacturing base, Illinois leads in many areas like advanced and clean agriculture, energy, IT life sciences logistics for transportation.

Illinois has seen tremendous international investment growth in recent years. Countries like Britain, Japan, Germany and China were among those most investing in Illinois; by 2023 this amount reached over USD $13.2 billion in the agribusiness, manufacturing and manufacturing industries in Illinois all by itself.

Since 2014, over $1 billion worth of incentives have been given out under Illinois' Reimagining Energy and Vehicles program to businesses that offer electric vehicles and renewable energy production. The program was announced last month. DCEO also rewarded PsiQuantum Manufacturing with an incentive package of more than $200 million to build a high-tech manufacturing facility in East Alton.

Governor JB Pritzker was present along with representatives from his organization, 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 research. This project will bring together 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 manufacturing facility in Elgin and will create 50 full-time positions while keeping the existing 140 full-time employees.

The kirk Ferentz press conference illinois; https://pressez.substack.com, Small Business Development Center located at Southern Illinois University is funded in part through a cooperative 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 for creating or expanding their businesses through services such as free workshops on business planning, one-on-one counseling sessions with expert Business Advisors and access financing options.

State officials in Indiana are encouraging employers to offer higher salaries and benefits as a way to keep child care workers employed nationwide which is a problem due to a shortage of job. The decision comes after the closure of a child care center in Bronzeville which was struggling to retain staff.

Illinois Department of Labor also launched an online tool designed to inform small-scale businesses about lawful employment practices. Employers can search using keywords or browse categories on this site; as well as connect to the appropriate state agencies and resources.

Illinois Business Development Authority (IBDA) has taken steps 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. The webinar was recorded and will be archived on their website.