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Illinois Business Developments

Illinois as the biggest market in the Midwest and home to more than 2,000 corporate headquarters, a thriving entrepreneurial scene, and more than 1.2 million small businesses, is home to all of the assets global businesses require to succeed in business today. From world-class infrastructure which connects companies with suppliers and customers to a talented workforce in various industries and an advanced manufacturing base, Illinois leads in many areas like advanced and clean energy, agribusiness, IT life sciences logistics for transportation.

illinois tool works press release has witnessed a significant foreign investment growth over recent years. Countries such as Britain, Japan, Germany and China were among the top countries investing in Illinois and by 2023, this amount reached over USD $13.2 billion in agriculture, manufacturing and other sectors in Illinois alone.

Since 2014, over $1 billion worth of incentives have been distributed under Illinois' Reimagining Energy and Vehicles program to businesses that offer electric vehicles and green energy production. Last month, DCEO also provided PsiQuantum Manufacturing with an incentive package that was worth over 200 million dollars for their new modern facility in East Alton.

Governor JB Pritzker was joined by representatives from Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a revolutionary research hub located at the forefront of leading scientific research. This initiative will bring together 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 existing plant for manufacturing in Elgin and will create 50 full-time jobs while keeping 140 existing full-time positions intact.

The Illinois Small Business Development Center located 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 offers local entrepreneurs with assistance for creating or expanding their businesses with services that include free business planning workshops individual counseling sessions with experienced Business Advisors and access funding opportunities.

State leaders in Indiana are informing employers to provide higher salaries and benefits as a way to keep child care workers employed nationwide and facing a lack of jobs. This comes following the closure of a child care facility located in Bronzeville that struggled to keep its staff.

Illinois Department of Labor also created an online tool to educate small businesses on employment laws. Employers can search for keywords or browse through categories on this website, as well as connect to state agencies and information sources.

Illinois Business Development Authority (IBDA) is working to make people aware of Illinois' tax incentives for business expansion. They hosted the IBDA's webinar this week about this topic. The event was recorded. The webinar will later become archived and posted on their site.