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Illinois Business Developments

Illinois, as the largest market of the Midwest and home to more than 2000 corporate headquarters, an active startup scene and over 1.2 million small businesses, provides the infrastructure that firms require to flourish in the modern business. The world's best infrastructure connects companies with suppliers and customers to a skilled and knowledgeable workforces in various industries as well as an advanced manufacturing base, Illinois is a leader in many areas such as advanced and clean agricultural technology, energy, Pressez (simply click Fc 2) and life sciences transportation logistics.

Illinois has witnessed a significant increase in foreign investment over the last few years. Countries such as Britain, Japan, Germany and China were among the top countries investing in Illinois and by 2023, this amount was over USD $13.2 billion across the agribusiness, manufacturing and manufacturing areas in Illinois alone.

Since 2014, nearly $1 billion in incentives were granted under Illinois' Reimagining Energy and Vehicles program to companies providing electric vehicles and green energy production. This month, DCEO also provided PsiQuantum Manufacturing with an incentive package that was worth over $200 million to build a advanced facility in East Alton.

Governor JB Pritzker was joined by representatives from his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a revolutionary research hub located 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 the development of human tissues as well to develop innovative therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their existing production facility located in Elgin and will create 50 full-time employees while maintaining 140 existing full-time positions intact.

The Illinois Small Business Development Center located at Southern Illinois University is funded partly through a cooperative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center assists local entrepreneurs with assistance in creating or expanding their businesses through services such as free business planning workshops, one-on-one counseling sessions with expert Business Advisors and access funding opportunities.

State leaders in Indiana are encouraging employers to offer higher salaries and benefits as a means of keeping childcare employees in the United States which is a problem due to a shortage of employment. This follows the closure of a care facility located in Bronzeville that struggled to keep its staff.

Illinois Department of Labor also has launched an online tool to inform small-scale businesses about the laws governing employment. Employers can search by keyword or browse categories on the site; as well as connect to appropriate state agencies and information sources.

Illinois Business Development Authority (IBDA) has taken steps to raise awareness of Illinois tax incentives that can be used for business expansion. They hosted a webinar this week on the subject. It was recorded. It will then appear on the website.