Illinois Business Developments

Illinois, as the largest market of the Midwest and home to more than two thousand corporate headquarters, an active startup scene and over 1.2 million small enterprises, has all of the assets global firms require to flourish in the modern business. From the world-class infrastructure that connects businesses with their suppliers and customers to a skilled workers in various fields as well as a modern manufacturing base, Illinois is a leader in many areas like advanced and clean agriculture, energy, IT life sciences transportation logistics.

Illinois has seen a huge foreign investment growth over recent years. Countries such as Britain, Japan, Germany and China were among the countries that most invested in Illinois; by 2023 this total was more than USD $13.2 billion across the agribusiness, manufacturing and manufacturing sectors in Illinois all by itself.

In 2014, over $1 billion in incentives has been awarded under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as renewable energy production. In the last month, DCEO also awarded PsiQuantum Manufacturing with an incentive package totaling over 200 million dollars for their new state-of-the-art manufacturing facility located in East Alton.

Governor JB Pritzker was joined by representatives from the Chan Zuckerberg Initiative, harris walz press release (https://www.speedrun.com/) Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a groundbreaking research hub that is at the forefront of cutting-edge research. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well and develop revolutionary therapies.

Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current production facility located in Elgin and will create 50 full-time employment while keeping the existing 140 full-time employees.

The Illinois Small Business Development Center at Southern Illinois University is funded through a collaborative agreement among 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 beginning or expanding their business by offering services like free business planning workshops and one-on-one sessions with expert Business Advisors and access financing opportunities.

State officials in Indiana are pushing employers to offer better pay and benefits as a way to keep child care employees in the United States and facing a lack of jobs. The move comes after the closing of a child care center located in Bronzeville where it was difficult to retain staff.

Illinois Department of Labor also created an online tool to help small businesses understand labor laws. Employers can search using keywords or browse categories on this site; as well as connect to appropriate state agencies and information sources.

Illinois Business Development Authority (IBDA) has taken steps to make people aware of Illinois tax incentives for business expansion. The IBDA hosted the IBDA's webinar this week on the subject. It was recorded and will become archived and posted on their site.