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Illinois Business Developments

Illinois is the biggest marketplace 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 the infrastructure that firms require to flourish in the modern business. From world-class infrastructure which connects companies with customers and suppliers to highly skilled workers in various fields as well as a modern manufacturing base, Illinois leads in many areas such as clean and advanced technology, agriculture, energy, life sciences transportation logistics.

Illinois has seen tremendous expansion of foreign investments in recent years. Countries like Britain, Japan, Germany and China were among the top countries investing in Illinois In 2023, this total was more than USD $13.2 billion in agriculture, manufacturing and other sectors in Illinois alone.

In 2014, over $1 billion worth of incentives have been distributed 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 provided PsiQuantum Manufacturing with an incentive package worth more than $200 million to build a state-of-the-art manufacturing facility in East Alton.

Governor JB Pritzker joined representatives from the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a cutting-edge research hub that is at the forefront of cutting-edge research. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and xerox press release; https://pressez.substack.com, Northwestern University researchers to study the development of human 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, creating 50 full-time employment while keeping the existing 140 full-time employees.

The Illinois Small Business Development Center 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 provides local entrepreneurs with assistance in beginning or expanding their business through services such as free workshops on business planning, one-on-one counseling sessions with expert Business Advisors, and access to financing options.

State officials in Indiana are informing employers to provide higher salaries and benefits as a method of keeping child care workers working across the nation and facing a lack of job. The move comes after the closure of a care center in Bronzeville where it was difficult to retain employees.

Illinois Department of Labor also introduced an online tool to provide small-sized businesses with information on labor laws. Employers are able to search using keywords or browse categories on the website; and connect to state agencies and sources.

Illinois Business Development Authority (IBDA) is taking action to make people aware of Illinois tax incentives for business expansion. They hosted a webinar this week on the subject. The webinar was recorded and will later be available on their website.