Illinois Business Developments

Illinois is the biggest marketplace in the Midwest and the home of more than 2000 corporate headquarters, a vibrant business scene, and more than 1.2 million small businesses, provides all of the assets global businesses require to succeed in business today. From world-class infrastructure that connects businesses to suppliers and customers, to a skilled and knowledgeable workforces in various industries and an advanced manufacturing base – Illinois has a leading position in many fields like advanced and clean agriculture, energy, IT life sciences logistics for transportation.

Illinois has seen tremendous 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 was over USD $13.2 billion in agriculture, manufacturing and other industries in Illinois alone.

Since 2014, over $1 billion worth of incentives have been distributed under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and green energy production. Last month, DCEO also granted PsiQuantum Manufacturing with an incentive package that was worth over $200 million for their brand new state-of-the-art 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 inaugurate CZ Biohub Chicago – a revolutionary research hub located 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 in developing revolutionary therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current plant for manufacturing in Elgin and will create 50 full-time employment while keeping the 140 full-time positions they currently have.

The Illinois Small Business Development Center located at Southern Illinois Laurie matheson university of Illinois press (https://hashnode.com/@Pressez) is funded in part through a cooperative agreement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center offers entrepreneurs from the local area with help in creating or expanding their businesses with services that include free business planning workshops individual counseling sessions with experienced Business Advisors and access financing opportunities.

State officials in Indiana are insisting on employers offering higher wages and benefits as a way of keeping child care employees in the United States which is a problem due to a shortage of jobs. This comes following the closing of a children’s care center located in Bronzeville which struggled to retain employees.

Illinois Department of Labor also created an online tool to inform small-scale businesses about labor laws. Employers can search by keyword or browse categories on this site, and connect to appropriate state agencies and resources.

Illinois Business Development Authority (IBDA) is taking action to increase awareness about Illinois tax incentives for expanding businesses by hosting an interactive webinar on the subject. It was recorded. It will then be available on their website.