Illinois Business Developments

Illinois as the biggest market of the Midwest and the home of more than 2000 corporate headquarters, a bustling entrepreneurial scene, and more than 1.2 million small businesses, provides all the resources global companies require to thrive in the current business climate. From world-class infrastructure that connects businesses to suppliers and customers to a skilled and knowledgeable workforces in various industries 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 witnessed a significant international investment growth in recent years. Countries like Britain, Japan, Germany and China were among the most invested in Illinois In 2023, this total was more than USD $13.2 billion in the agribusiness, manufacturing and manufacturing areas in Illinois alone.

In 2014, over $1 billion worth of incentives have been awarded under Illinois' Reimagining Energy and Vehicles program to companies providing electric vehicles and renewable energy production. The program was announced last month. DCEO also rewarded PsiQuantum Manufacturing with an incentive package worth more than $200 million for their new high-tech manufacturing facility located in East Alton.

Governor JB Pritzker was present along with representatives from his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and kkr press release - https://www.diigo.com/, local officials today in Chicago to inaugurate CZ Biohub Chicago - a cutting-edge research hub that is at the forefront in scientific research. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as as develop groundbreaking therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have 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 in part through a cooperative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center provides entrepreneurs from the local area with help in starting or expanding their businesses with services that include free workshops on business planning individual counseling sessions with expert Business Advisors and access financing opportunities.

State leaders in Indiana are pushing employers to offer better wages and benefits as a way of keeping child care employees in the United States and facing a lack of job. This follows the closure of a child care facility in Bronzeville which struggled to retain employees.

Illinois Department of Labor also introduced an online tool to educate small businesses on employment laws. Employers can search by keyword or browse through categories on this site, and connect with state agencies and sources.

Illinois Business Development Authority (IBDA) has taken steps to promote awareness of Illinois tax incentives for business expansion. The IBDA hosted a webinar this week on the subject. The webinar was recorded and will later be available on their website.