Illinois Business Developments

Illinois is the most populous marketplace in the Midwest and home to over 22,000 corporate headquarters, an active entrepreneurial scene, and more than 1.2 million small businesses, provides all the resources that global businesses need to be successful in the current business climate. From world-class infrastructure that connects companies with suppliers and customers to a talented workforce in various industries as well as an advanced manufacturing base, Illinois has a leading position in many fields including advanced and sustainable agriculture, energy, IT life sciences logistics for transportation.

Illinois has experienced a tremendous increase in international investment growth in recent years. Countries like Britain, Japan, Germany and China were among the countries that most investing in Illinois; by 2023 this amount reached over USD $13.2 billion across manufacturing, agribusiness and other industries in Illinois alone.

In 2014, over $1 billion worth of incentives have been distributed under Illinois' Reimagining Energy and Vehicles program to companies providing electric vehicles and clean energy production. Last month, DCEO also granted PsiQuantum Manufacturing with an incentive package of more than $200 million for their brand new modern manufacturing facility in East Alton.

Governor JB Pritzker accompanied by representatives of Chan Zuckerberg Initiative, 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 research. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well and develop revolutionary therapies.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their factory in Elgin and will create 50 full-time employees while maintaining the 140 full-time jobs they have currently.

The Illinois Small Business Development Center at Southern Illinois University is funded partly through a cooperative agreement 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 creating or expanding their businesses with services that include free business planning workshops individual counseling sessions with experienced Business Advisors and access to financing opportunities.

State leaders in Indiana are insisting on employers offering higher wages and benefits as a method of keeping child care workers working across the illinois speed press (https://pressez.blog.fc2.com) nation as they face a shortage of work. This follows the closure of a child care facility in Bronzeville which was struggling to retain employees.

Illinois Department of Labor also created an online tool to help small businesses understand labor laws. Employers can search for keywords or browse categories on the website; and connect with state agencies and information sources.

Illinois Business Development Authority (IBDA) is taking steps to make people aware of Illinois tax incentives for business expansion. The IBDA hosted a webinar this week on this subject, which was recorded. It will then become archived and posted on their site.