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Illinois Business Developments

Illinois is the most populous market in the Midwest and home to over 2,000 corporate headquarters, a bustling entrepreneurial scene, and more than 1.2 million small enterprises, has all the resources that global businesses require to succeed in today's competitive business. From world-class infrastructure that connects companies to suppliers and customers, to a talented workforce in various industries and a thriving manufacturing base - Illinois has a leading position in many fields such as advanced and clean agricultural technology, energy, and life sciences, transportation logistics.

Illinois has experienced a tremendous increase in international investment growth in recent years. Countries like Britain, Japan, Germany and China were among the most invested in Illinois Press - official source, and by 2023, this total was more than USD $13.2 billion in manufacturing, agribusiness and other sectors in Illinois all by itself.

Since 2014, over $1 billion in incentives has been granted under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and green energy production. Last month, DCEO also awarded PsiQuantum Manufacturing with an incentive package worth more than $200 million to build a state-of-the-art manufacturing facility located in East Alton.

Governor JB Pritzker was present along with representatives from Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a revolutionary research hub located at the forefront of leading 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 as develop groundbreaking therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current factory in Elgin that will result in 50 full-time employment while keeping 140 existing full-time positions intact.

The Illinois Small Business Development Center at Southern Illinois University is funded by a co-operative 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 the creation or expansion of their businesses with services that include free business planning workshops One-on-one counseling sessions with experienced Business Advisors as well as access to financing opportunities.

State leaders in Indiana are pushing employers to offer better salaries and benefits as a way to keep child care workers employed nationwide as they face a shortage of job. This comes following the closing of a child care center in Bronzeville where it was difficult to retain staff.

Illinois Department of Labor also introduced an online tool to provide small-sized businesses with information on lawful employment practices. Employers can search for keywords or browse through categories on this site, and connect to appropriate state agencies and information sources.

Illinois Business Development Authority (IBDA) is working to promote awareness of Illinois tax incentives that can be used for business expansion. The IBDA hosted the IBDA's webinar this week on this subject, which was recorded and will later become archived and posted on their site.