Illinois Business Developments

Illinois is the biggest market in the Midwest and home to more than two thousand corporate headquarters, an active startup scene, and over 1.2 million small businesses, provides all the resources global companies require to thrive in today's competitive business. From world-class infrastructure that connects companies to suppliers and customers to skilled workforce across various industries as well as a modern manufacturing base - Illinois excels in a variety of areas including advanced and sustainable agricultural technology, energy, and life sciences transportation logistics.

Illinois has experienced a tremendous increase in increase in foreign investment over the last few years. Countries like Britain, goldman sachs press release [pressez.blog.fc2.com] Japan, Germany and China were among the most investing in Illinois; by 2023 this amount was over USD $13.2 billion across manufacturing, agribusiness and other areas in Illinois alone.

Since 2014, nearly $1 billion in incentives were given out under Illinois' Reimagining Energy and Vehicles program to firms that supply electric vehicles and clean energy production. Last month, DCEO also provided PsiQuantum Manufacturing with an incentive package that was worth over 200 million dollars for their new advanced manufacturing facility in East Alton.

Governor JB Pritzker accompanied by representatives of Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a revolutionary research hub located that is at the forefront in scientific research. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and 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 manufacturing facility in Elgin and will create 50 full-time employment while keeping the 140 full-time jobs they have currently.

The Illinois Small Business Development Center located at Southern Illinois University is funded in part through a cooperative agreement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The center provides entrepreneurs in the area with support for beginning or expanding their business through programs such as free workshops on business planning, one-on-one counseling sessions with experienced Business Advisors, and access to financing opportunities.

State leaders in Indiana are informing employers to provide higher pay and benefits as a way of keeping child care workers employed nationwide, who face a shortage of employment. The move comes after the closing of a children's care facility located in Bronzeville which was struggling to retain employees.

Illinois Department of Labor also launched an online tool designed to inform small-scale businesses about labor laws. Employers can search using keywords or browse categories on this website; and connect to the appropriate 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 the IBDA's webinar this week on the subject. It was recorded. The webinar will later be archived on their website.