Illinois Business Developments

Illinois is the most populous marketplace in the Midwest and home to more than 2000 corporate headquarters, an active business scene, and more than 1.2 million small businesses, is home to all the resources that global firms require to flourish in business today. From world-class infrastructure which connects businesses to suppliers and customers to skilled workers in various fields as well as a modern manufacturing base - Illinois excels in a variety of areas including advanced and sustainable agricultural technology, energy, and life sciences, transportation logistics.

Illinois has seen a huge expansion of foreign investments in recent years. Countries like Britain, Japan, Germany and China were among the countries that most invested in Illinois in 2023. By that time, the amount reached over USD $13.2 billion across the agribusiness, manufacturing and manufacturing sectors in Illinois all by itself.

In 2014, over $1 billion worth of incentives have been given out under Illinois' Reimagining Energy and Vehicles program to businesses that offer electric vehicles and green energy production. The program was announced last month. DCEO also rewarded PsiQuantum Manufacturing with an incentive package totaling over $200 million to build a modern facility in East Alton.

Governor JB Pritzker was present along with representatives from his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a groundbreaking research hub at the forefront of leading scientific research. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well in developing revolutionary therapeutics.

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

The Illinois Small Business Development Center at Southern Illinois University is funded by a co-operative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center assists entrepreneurs from the local area with help in the creation or expansion of their businesses through programs such as free business planning workshops and press release rubric (https://mirror.xyz/0x012D387Ca842d46f8Dc4670BC6a8c919CE26343C) one-on-one sessions with expert Business Advisors, and access to funding opportunities.

State officials in Indiana are encouraging employers to offer higher wages and benefits as a way to keep child care workers working across the nation and facing a lack of employment. This comes following the closing of a children's care center in Bronzeville which struggled to retain staff.

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

Illinois Business Development Authority (IBDA) has taken steps to raise awareness of Illinois tax incentives that can be used for expanding businesses by hosting the IBDA's webinar this week on this subject, which was recorded and will be available on their website.