Illinois Business Developments

Illinois, as the largest market of the Midwest and home to more than two thousand corporate headquarters, a vibrant business scene, and more than 1.2 million small businesses, is home to all the resources global companies require to thrive in the modern business. From the world-class infrastructure that connects companies to suppliers and customers, to a skilled workers in various fields and a thriving manufacturing base - Illinois leads in many areas such as clean and advanced agricultural technology, energy, and life sciences and transportation logistics.

Illinois has experienced a tremendous increase in expansion of foreign investments in recent years. Countries like Britain, Japan, Germany press release johnson and johnson (https://form.jotform.com/) China were among the top countries investing in Illinois in 2023. By that time, the amount was over USD $13.2 billion across agriculture, manufacturing and other sectors in Illinois all by itself.

Since 2014, more than $1 billion worth of incentives have been granted 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 of more than $200 million to build a modern 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 officially launch CZ Biohub Chicago - a groundbreaking research hub that is at the forefront of cutting-edge scientific studies. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as in developing revolutionary therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their production facility located in Elgin which will create 50 full-time positions while keeping the 140 full-time jobs they have currently.

The Illinois Small Business Development Center at Southern Illinois University is funded in part through a cooperative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center assists entrepreneurs from the local area with help in starting or expanding their businesses through services such as free business planning workshops, one-on-one counseling sessions with expert Business Advisors as well as access to financing options.

State officials in Indiana are insisting on employers offering higher pay and benefits as a method of keeping child care employees in the United States which is a problem due to a shortage of job. The move comes after the closure of a child care center in Bronzeville where it was difficult to retain employees.

Illinois Department of Labor also created an online tool to help small businesses understand the laws governing employment. Employers can search for keywords or browse through categories on this site; as well as connect with state agencies and resources.

Illinois Business Development Authority (IBDA) is taking steps to increase awareness about Illinois tax incentives that can be used for business expansion. The IBDA hosted an online webinar on the subject. It was recorded. The webinar will later become archived and posted on their site.