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Illinois Business Developments

Illinois as the biggest marketplace in the Midwest and home to more than 2000 corporate headquarters, a vibrant startup scene, and over 1.2 million small-scale businesses, offers all of the assets global businesses require to succeed in business today. The world's best infrastructure connects businesses to suppliers and customers to a talented workforce in various industries and a thriving manufacturing base - Illinois leads in many areas like advanced and clean energy, agribusiness, IT life sciences transportation logistics.

Illinois has seen tremendous increase in foreign investment over the last few years. Countries such as Britain, Japan, Germany and China were among those most invested in Illinois in 2023. By that time, the amount reached over USD $13.2 billion across agriculture, manufacturing and other industries in Illinois alone.

Since 2014, nearly $1 billion worth of incentives have been given out under Illinois' Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as clean energy production. The program was announced last month. DCEO also rewarded PsiQuantum Manufacturing with an incentive package totaling over $200 million for their new state-of-the-art manufacturing facility located in East Alton.

Governor JB Pritzker joined representatives from 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 scientific studies. The project will unite 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 49Th Gst Council Meeting Press Release Pdf (Form.Jotform.Com) Flender Corporation recently announced they are expanding their existing factory in Elgin that will result in 50 full-time positions while keeping 140 existing full-time positions intact.

The Illinois Small Business Development Center at Southern Illinois University is funded through a collaborative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center provides local entrepreneurs with assistance for starting or expanding their businesses with services that include free workshops on business planning One-on-one counseling sessions with expert Business Advisors as well as access to financing opportunities.

State leaders in Indiana are insisting on employers offering higher pay and benefits as a way to keep child care employees in the United States as they face a shortage of job. The decision comes after the closure of a child care facility in Bronzeville which struggled to retain employees.

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 with state agencies and information sources.

Illinois Business Development Authority (IBDA) is taking steps to raise awareness of Illinois tax incentives to business expansion. They hosted an interactive webinar on the subject. The webinar was recorded and will be archived on their website.