Illinois Business Developments

Illinois as the biggest market in the Midwest and the home of more than 22,000 corporate headquarters, a bustling startup scene, and over 1.2 million small businesses, provides all of the assets global businesses need to be successful in today’s competitive business. The world’s best infrastructure connects businesses with their suppliers and customers to a skilled workers in various fields and a thriving manufacturing base, Illinois excels in a variety of areas including advanced and sustainable agriculture, energy, IT life sciences and transportation logistics.

Illinois has witnessed a significant international investment growth in recent years. Countries such as Britain, Japan, Germany and China were among the most invested in Illinois In 2023, this amount reached over USD $13.2 billion in the agribusiness, manufacturing and manufacturing industries in Illinois alone.

In 2014, over $1 billion in incentives have been granted under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and green energy production. This month, DCEO also provided PsiQuantum Manufacturing with an incentive package totaling over 200 million dollars for their new modern manufacturing facility located in East Alton.

Governor JB Pritzker accompanied by representatives of The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to launch CZ Biohub Chicago – a innovative research hub that is that is at the forefront in scientific research. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the human development of tissues as well as develop groundbreaking therapeutics.

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

The Illinois Small Business Development Center located 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 local entrepreneurs with assistance in beginning or expanding their business through services such as free business planning workshops and one-on-one sessions press Release with photos – https://www.speedrun.com/user/Pressez – expert Business Advisors and access to funding opportunities.

State leaders in Indiana are insisting on employers offering higher compensation and benefits as method of keeping child care employees in the United States as they face a shortage of work. The decision comes after the closing of a children’s care facility located in Bronzeville that struggled to keep its employees.

Illinois Department of Labor also introduced an online tool to educate small businesses on employment laws. Employers can search using keywords or browse categories on this site, and connect to the appropriate state agencies and information sources.

Illinois Business Development Authority (IBDA) is working to promote awareness of Illinois tax incentives that can be used for business expansion by hosting an interactive webinar about this topic. The event was recorded and will appear on the website.