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Illinois Business Developments

Illinois as the biggest markets in the Midwest and home to over 2000 corporate headquarters, a thriving startup scene, and over 1.2 million small enterprises, has all the resources global firms require to flourish in the modern business. From the world-class infrastructure that connects businesses to suppliers and customers, to a skilled workforce across various industries and an advanced manufacturing base, Illinois has a leading position in many fields such as clean and advanced energy, agribusiness, IT life sciences logistics for transportation.

Illinois has witnessed a significant increase in foreign investment over the last few years. Countries such as Britain, Japan, Germany and China were among those most investing in Illinois and by 2023, this total was more than USD $13.2 billion in the agribusiness, manufacturing and manufacturing industries in Illinois all by itself.

Since 2014, more than $1 billion in incentives have been distributed under Illinois' Reimagining Energy and Vehicles program to companies providing electric vehicles and green energy production. This month, DCEO also awarded PsiQuantum Manufacturing with an incentive package totaling over $200 million for their new high-tech 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 launch 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 Northwestern University researchers to study human tissue development as well as develop groundbreaking therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their current manufacturing facility in Elgin and will create 50 full-time employment while keeping the 140 full-time positions they currently have.

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 offers entrepreneurs from the local area with help in starting or expanding their businesses through programs such as press release template free (www.Diigo.com) business planning workshops and one-on-one sessions with expert Business Advisors and access funding opportunities.

State leaders in Indiana are informing employers to provide higher pay and benefits as a method of keeping child care workers employed nationwide as they face a shortage of job. This follows the closing of a children's care center located in Bronzeville which was struggling to retain staff.

Illinois Department of Labor also has launched an online tool to inform small-scale businesses about lawful employment practices. Employers can search using keywords or browse categories on the website; and connect to the appropriate state agencies and sources.

Illinois Business Development Authority (IBDA) is taking action to increase awareness about Illinois tax incentives to business expansion. The IBDA hosted the IBDA's webinar this week on the subject. The webinar was recorded. The webinar will later be available on their website.