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Illinois Business Developments

Illinois is the biggest market in the Midwest and home to more than 2000 corporate headquarters, a vibrant business scene, and more than 1.2 million small businesses, is home to all of the assets global companies require to thrive in the current business climate. From world-class infrastructure that connects businesses with their suppliers and customers, to a talented workforce in various industries as well as a modern manufacturing base, Illinois excels in a variety of areas such as advanced and clean agricultural technology, energy, and life sciences, transportation logistics.

Illinois has seen tremendous 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, this sum was greater than USD $13.2 billion in agriculture, manufacturing and other industries in Illinois all by itself.

Since 2014, more than $1 billion in incentives has been distributed under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as renewable energy production. This month, DCEO also provided PsiQuantum Manufacturing with an incentive package worth more than 200 million dollars for their new modern manufacturing facility located in East Alton.

Governor JB Pritzker joined 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 of cutting-edge scientific studies. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the human development of tissues as well and develop revolutionary therapies.

Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current factory in Elgin and will create 50 full-time jobs while keeping the 140 full-time jobs they have currently.

The Illinois 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 associated press illinois football rankings (https://form.jotform.com/) University. The Center offers local entrepreneurs with assistance for creating or expanding their businesses by offering services like free business planning workshops, one-on-one counseling sessions with experienced Business Advisors, and access to financing opportunities.

State leaders in Indiana are insisting on employers offering higher salaries and benefits as a way of keeping child care workers working across the nation and facing a lack of work. This follows the closure of a child care center located 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 by keyword or browse through categories on this site; as well as connect to appropriate state agencies and other resources.

Illinois Business Development Authority (IBDA) is taking action to increase awareness about Illinois tax incentives that can be used for business expansion. They hosted an interactive webinar about this topic. The event was recorded and will become archived and posted on their site.