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Illinois Business Developments

Illinois as the biggest market in the Midwest and home to over 22,000 corporate headquarters, a thriving startup scene and over 1.2 million small businesses, provides all of the assets global firms require to flourish in the modern business. From world-class infrastructure that connects businesses with their customers and suppliers to highly skilled workforce across various industries and an advanced manufacturing base, Illinois leads in many areas like advanced and clean agricultural technology, energy, and life sciences transportation logistics.

Illinois has seen tremendous increase in foreign investment over the last few years. Countries such as Britain, 2025 camry press release, www.speedrun.Com, Japan, Germany and China were among the countries that most investing in Illinois and by 2023, this amount reached over USD $13.2 billion across manufacturing, agribusiness and other areas in Illinois all by itself.

Since 2014, nearly $1 billion in incentives has been granted under Illinois' Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as renewable energy production. Last month, DCEO also awarded PsiQuantum Manufacturing with an incentive package that was worth over $200 million for their brand new modern manufacturing facility located in East Alton.

Governor JB Pritzker was joined by representatives from The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to launch CZ Biohub Chicago - a groundbreaking research hub that is at the forefront in scientific studies. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well to develop innovative therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their existing manufacturing facility in Elgin, creating 50 full-time employment while keeping the 140 full-time jobs they have currently.

The Illinois Small Business Development Center located at Southern Illinois University is funded through a collaborative agreement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The center provides entrepreneurs from the local area with help in creating or expanding their businesses through programs such as free workshops on business planning, one-on-one counseling sessions with experienced Business Advisors, and access to financing opportunities.

State officials in Indiana are informing employers to provide higher pay and benefits as a means of keeping childcare workers working across the nation, who face a shortage of jobs. This follows the closing of a children's care facility in Bronzeville which was struggling to retain staff.

Illinois Department of Labor also introduced an online tool to help small businesses understand labor laws. Employers can search for keywords or browse categories on this website, as well as connect to the appropriate state agencies and other resources.

Illinois Business Development Authority (IBDA) is taking steps to make people aware of Illinois' tax incentives for business expansion. The IBDA hosted a webinar this week on the subject. The webinar was recorded and will be available on their website.