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Illinois Business Developments

Illinois is the most populous market of the Midwest and home to more than 22,000 corporate headquarters, a vibrant entrepreneurial scene, and more than 1.2 million small enterprises, has the infrastructure that businesses need to be successful in today's competitive business. From the world-class infrastructure that connects businesses with their suppliers and customers, to a skilled workforce across various industries as well as a modern manufacturing base, Illinois leads in many areas such as advanced and clean agricultural technology, energy, and life sciences logistics for transportation.

Illinois has experienced a tremendous increase in expansion of foreign investments in recent years. Countries like Britain, Japan, Germany and China were among those most invested in Illinois; by 2023 this amount was over USD $13.2 billion across agricultural, manufacturing, and other areas in Illinois alone.

In 2014, over $1 billion worth of incentives have been given out under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and renewable energy production. This month, DCEO also provided PsiQuantum Manufacturing with an incentive package of more than 200 million dollars for their new 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 for the launch of CZ Biohub Chicago - a cutting-edge research hub at the forefront of leading scientific studies. This initiative will bring together University of 0 0 Chicago (Https://Start.Me/), Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as in developing revolutionary therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their plant for manufacturing in Elgin that will result in 50 full-time employment while keeping the 140 full-time jobs they have currently.

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 offers local entrepreneurs with assistance for the creation or expansion of their businesses with services that include free business planning workshops, one-on-one counseling sessions with expert Business Advisors and access financing opportunities.

State officials in Indiana are pushing employers to offer better wages and benefits as a method of keeping child care workers employed nationwide as they face a shortage of employment. This follows the closing of a children's care facility in Bronzeville which was struggling to retain employees.

Illinois Department of Labor also has launched an online tool to inform small-scale businesses about the laws governing employment. Employers are able to search using keywords or browse categories on this site; as well as connect with state agencies and other resources.

Illinois Business Development Authority (IBDA) is taking action to promote awareness of Illinois tax incentives to business expansion by hosting an online webinar about this topic. The event was recorded and will appear on the website.