Illinois Business Developments

Illinois is the most populous market of the Midwest and home to more than 2000 corporate headquarters, a vibrant startup scene and over 1.2 million small businesses, provides the infrastructure that businesses need to be successful in today's competitive business. From world-class infrastructure that connects companies with customers and suppliers to highly skilled workforce across various industries as well as a modern manufacturing base - Illinois has a leading position in many fields such as clean and advanced agricultural technology, energy, and life sciences logistics for transportation.

Illinois has witnessed a significant increase in foreign investment over the last few years. Countries like Britain, Japan, Germany and China were among the most invested in Illinois In 2023, this amount reached over USD $13.2 billion across manufacturing, agribusiness and other industries in Illinois all by itself.

Since 2014, more than $1 billion in incentives has been awarded under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as renewable energy production. The program was announced last month. DCEO also provided PsiQuantum Manufacturing with an incentive package that was worth over $200 million for their brand new high-tech facility located in East Alton.

Governor JB Pritzker was joined by representatives from his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials gst council meeting today press release; pressez.blog.fc2.com, in Chicago to officially launch CZ Biohub Chicago - a cutting-edge research hub that is at the forefront of cutting-edge research. 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 in developing revolutionary therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their existing plant for manufacturing in Elgin, creating 50 full-time employees while maintaining the 140 full-time positions they currently have.

The Illinois Small Business Development Center at Southern Illinois University is funded in part through a cooperative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center offers local entrepreneurs with assistance in creating or expanding their businesses by offering services like free business planning workshops individual counseling sessions with experienced Business Advisors, and access to funding opportunities.

State officials in Indiana are informing employers to provide higher pay and benefits as a method of keeping child care workers in the country which is a problem due to a shortage of jobs. The decision comes after the closure of a care facility in Bronzeville which struggled to retain staff.

Illinois Department of Labor also has launched an online tool to provide small-sized businesses with information on labor laws. Employers can search by keyword or browse categories on this site, and connect to the appropriate state agencies and information sources.

Illinois Business Development Authority (IBDA) is taking action to raise awareness of Illinois tax incentives for business expansion by hosting an online webinar on the subject. It was recorded. It will then become archived and posted on their site.