Illinois Business Developments

Illinois is the biggest market of the Midwest and home to more than 2,000 corporate headquarters, a thriving startup scene, and over 1.2 million small enterprises, has all the resources global companies require to thrive in today’s competitive business. From the world-class infrastructure that connects companies to suppliers and customers to a talented workforce in various industries as well as an advanced manufacturing base – Illinois leads in many areas such as advanced and clean agricultural technology, energy, and life sciences and transportation logistics.

Illinois has witnessed a significant expansion of foreign investments in recent years. Countries like Britain, Japan, Germany and China were among the top countries investing in Illinois and by 2023, this amount reached over USD $13.2 billion in agricultural, manufacturing, and other sectors in Illinois alone.

Since 2014, nearly $1 billion worth of incentives have been granted under Illinois’ Reimagining Energy and Vehicles program to companies providing electric vehicles and green energy production. The program was announced last month. DCEO also granted PsiQuantum Manufacturing with an incentive package of more than $200 million for their new state-of-the-art 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 for the launch of CZ Biohub Chicago – a revolutionary research hub located in the forefront of research. The project will unite 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 current factory in Elgin, creating 50 full-time employment while keeping the existing 140 full-time employees.

The Illinois Small Business Development Center at Southern Illinois University is funded in part through a cooperative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center assists local entrepreneurs with assistance for define press release (https://pressez.substack.com/p/The-importance-of-press-Releases) beginning or expanding their business with services that include 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 salaries and benefits as a way to keep child care employees in the United States as they face a shortage of work. This follows the closure of a child care facility in Bronzeville where it was difficult to retain employees.

Illinois Department of Labor also created an online tool to help small businesses understand lawful employment practices. Employers are able to search using keywords or browse categories on this website; and connect to appropriate state agencies and resources.

Illinois Business Development Authority (IBDA) is taking steps to make people aware of Illinois tax incentives that can be used for business expansion. The IBDA hosted a webinar this week about this topic. The event was recorded. It will then be archived on their website.