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Illinois Business Developments

Illinois as the biggest market in the Midwest and the home of more than 22,000 corporate headquarters, a bustling business scene, and more than 1.2 million small enterprises, has the infrastructure that businesses require to succeed in today's competitive business. From world-class infrastructure which connects businesses to suppliers and customers to skilled workforce across various industries as well as an advanced manufacturing base - Illinois has a leading position in many fields including advanced and sustainable technology, agriculture, energy, life sciences transportation logistics.

Illinois has experienced a tremendous increase in international investment growth in recent years. Countries such as Britain, Japan, Germany and China were among the countries that most invested in Illinois; by 2023 this sum was greater than USD $13.2 billion in agriculture, manufacturing and other areas in Illinois all by itself.

In 2014, over $1 billion in incentives were given out under Illinois Reimagining Energy and Vehicles program to firms that supply electric vehicles and renewable energy production. Last month, DCEO also rewarded PsiQuantum Manufacturing with an incentive package of more than $200 million to build a state-of-the-art 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 for the launch of CZ Biohub Chicago - a cutting-edge research hub that is at the forefront of cutting-edge 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 and 135 press release develop revolutionary therapies.

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

The Illinois Small Business Development Center at Southern Illinois University is funded in part through a cooperative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center provides entrepreneurs in the area with support for creating or expanding their businesses through services such as free workshops on business planning and one-on-one sessions with experienced Business Advisors as well as access to financing opportunities.

State leaders in Indiana are insisting on employers offering higher wages and benefits as a way of keeping child care employees in the United States, who face a shortage of job. The move comes after the closure of a child care center located in Bronzeville which was struggling to retain employees.

Illinois Department of Labor also introduced an online tool to educate small businesses on labor laws. Employers can search using keywords or browse categories on the site; as well as connect to appropriate state agencies and sources.

Illinois Business Development Authority (IBDA) has taken steps to increase awareness about Illinois tax incentives for business expansion by hosting an online webinar on the subject. The webinar was recorded and will later be available on their website.