Illinois Business Developments

Illinois as the biggest markets in the Midwest and home to over 2,000 corporate headquarters, a vibrant business scene, and more than 1.2 million small enterprises, has all of the assets global firms require to flourish in today’s competitive business. The world’s best infrastructure connects businesses with their suppliers and customers, to a skilled workforce across various industries and a thriving manufacturing base, Illinois leads in many areas such as advanced and clean agricultural technology, energy, and life sciences, transportation logistics.

Illinois has seen a huge international investment growth in recent years. Countries like Britain, Japan, Germany and China were among the countries that most investing in Illinois in 2023. By that time, the total was more than USD $13.2 billion across agricultural, manufacturing, and other industries in Illinois alone.

Since 2014, more than $1 billion in incentives has been given out under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and green energy production. This month, DCEO also granted PsiQuantum Manufacturing with an incentive package of more than $200 million for their brand new modern 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 inaugurate CZ Biohub Chicago – a revolutionary research hub located that is at the forefront in research. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well in developing revolutionary therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their production facility located in Elgin, creating 50 full-time employment while keeping the existing 140 full-time employees.

The Illinois Small Business Development Center located 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 offers entrepreneurs in the area with support for creating or expanding their businesses through programs such as free business planning workshops One-on-one counseling sessions with experienced Business Advisors and access financing options.

State leaders in Indiana are informing employers to provide higher wages and benefits as a means of keeping childcare workers in the country which is a problem due to a shortage of job. This follows the closure of a care facility in Bronzeville which was struggling to retain employees.

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

Illinois Business Development Authority (IBDA) what is considered a press release – https://mirror.xyz/0x012D387Ca842d46f8Dc4670BC6a8c919CE26343C – taking action to increase awareness about Illinois tax incentives for business expansion. They hosted the IBDA’s webinar this week on the subject. The webinar was recorded and will later be archived on their website.