Illinois Business Developments

Illinois is the most populous markets in the Midwest and home to over 22,000 corporate headquarters, a vibrant startup scene and over 1.2 million small-scale businesses, offers the infrastructure that businesses require to succeed in business today. From world-class infrastructure that connects businesses to customers and suppliers to highly talented workforce in various industries as well as an advanced manufacturing base – Illinois has a leading position in many fields such as clean and advanced agricultural technology, energy, and 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 investing in Illinois in 2023. By that time, the amount was over USD $13.2 billion across agricultural, manufacturing, and other industries in Illinois Basketball Post Game Press Conference (Https://Start.Me/W/MBRA6P) all by itself.

Since 2014, over $1 billion in incentives have been distributed under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as renewable energy production. This month, DCEO also rewarded PsiQuantum Manufacturing with an incentive package of more than $200 million to build a state-of-the-art manufacturing facility located in East Alton.

Governor JB Pritzker joined representatives from Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago – a groundbreaking research hub 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 human tissue development as and develop revolutionary therapies.

Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current plant for manufacturing in Elgin that will result in 50 full-time employees while maintaining the existing 140 full-time employees.

The Illinois Small Business Development Center located at Southern Illinois University is funded partly through a cooperative 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 for beginning or expanding their business through programs such as free business planning workshops One-on-one counseling sessions with experienced Business Advisors and access to financing opportunities.

State officials in Indiana are pushing employers to offer better wages and benefits as a way to keep child care workers employed nationwide, who face a shortage of work. This follows the closure of a child care facility located in Bronzeville where it was difficult to retain employees.

Illinois Department of Labor also has launched an online tool to educate small businesses on employment laws. Employers can search using keywords or browse categories on this site; as well as connect with state agencies and information sources.

Illinois Business Development Authority (IBDA) has taken steps to increase awareness about Illinois tax incentives to business expansion. They hosted a webinar this week about this topic. The event was recorded. The webinar will later appear on the website.