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Illinois Business Developments

Illinois, as the largest markets in the Midwest and the home of more than 22,000 corporate headquarters, a thriving startup scene, and Pressez (form.jotform.com) over 1.2 million small-scale businesses, offers all the resources that global businesses require to succeed in the modern business. The world's best infrastructure connects companies with suppliers and customers to a talented workforce in various industries and an advanced manufacturing base, Illinois leads in many areas such as advanced and clean agriculture, energy, IT life sciences, transportation logistics.

Illinois has witnessed a significant international investment growth 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 across manufacturing, agribusiness and other sectors in Illinois alone.

In 2014, over $1 billion in incentives has been granted under Illinois Reimagining Energy and Vehicles program to companies providing electric vehicles and clean energy production. The program was announced last month. DCEO also rewarded PsiQuantum Manufacturing with an incentive package totaling over $200 million to build a high-tech 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 cutting-edge research hub that is at the forefront of cutting-edge scientific studies. The initiative will bring together 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 are expanding their existing plant for manufacturing in Elgin that will result in 50 full-time positions while keeping the 140 full-time jobs they have currently.

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 for creating or expanding their businesses by offering services like free business planning workshops One-on-one counseling sessions with expert Business Advisors and access funding opportunities.

State officials in Indiana are informing employers to provide higher compensation and benefits as way of keeping child care employees in the United States and facing a lack of job. This comes following the closure of a care facility located in Bronzeville where it was difficult to retain staff.

Illinois Department of Labor also introduced an online tool to help small businesses understand lawful employment practices. Employers can search using keywords or browse categories on this website, as well as connect to the appropriate state agencies and information sources.

Illinois Business Development Authority (IBDA) is taking action to promote awareness of Illinois' tax incentives for business expansion. They hosted the IBDA's webinar this week about this topic. The event was recorded. It will then be archived on their website.