Illinois Business Developments

Illinois as the biggest markets in the Midwest and home to more than 2,000 corporate headquarters, a thriving entrepreneurial scene, and more than 1.2 million small-scale businesses, offers all the resources that global companies require to thrive in the current business climate. The world’s best infrastructure connects businesses to suppliers and customers to a skilled and knowledgeable workforces in various industries and an advanced manufacturing base, Illinois leads in many areas like advanced and clean technology, agriculture, energy, life sciences, transportation logistics.

Illinois has seen tremendous increase in foreign investment over the last few years. Countries such as Britain, Japan, Germany and China were among those most invested in Illinois In 2023, this amount was over USD $13.2 billion across agriculture, manufacturing and other industries in Illinois all by itself.

Since 2014, more than $1 billion in incentives were distributed under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as clean energy production. In the last month, DCEO also granted PsiQuantum Manufacturing with an incentive package of more than 200 million dollars for their new state-of-the-art facility 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 officially launch CZ Biohub Chicago – a groundbreaking research hub that is at the forefront of cutting-edge 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 to develop innovative therapeutics.

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

The Illinois Small Business Development Center located at Southern Illinois University is funded partly through a cooperative agreement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern illinois ag press release (click through the up coming internet page) University. The Center provides entrepreneurs in the area with support for starting or expanding their businesses through programs such as free business planning workshops One-on-one counseling sessions with experienced Business Advisors as well as access to financing options.

State leaders in Indiana are informing employers to provide higher pay and benefits as a way to keep child care employees in the United States which is a problem due to a shortage of work. The decision comes after the closing of a child care center in Bronzeville that struggled to keep its staff.

Illinois Department of Labor also introduced an online tool to educate small businesses on lawful employment practices. 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 steps to increase awareness about Illinois tax incentives that can be used for expanding businesses by hosting an online webinar on this subject, which was recorded. It will then appear on the website.