Illinois Business Developments



Illinois, as the largest market of the Midwest and home to more than 22,000 corporate headquarters, a bustling startup scene, and over 1.2 million small businesses, is home to all of the assets global firms require to flourish in the current business climate. From world-class infrastructure that connects businesses to suppliers and customers to a skilled workforce across various industries as well as an advanced manufacturing base, Illinois excels in a variety of areas such as advanced and clean agricultural technology, energy, and life sciences, transportation logistics.




Illinois has seen a huge increase in foreign investment over the last few years. Countries such as Britain, Japan, Germany and China were among the countries that most investing in Illinois and by 2023, this sum was greater than USD $13.2 billion across manufacturing, agribusiness and other 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 firms that supply electric vehicles and renewable energy production. In the last month, DCEO also rewarded PsiQuantum Manufacturing with an incentive package of more than $200 million to build a state-of-the-art facility in East Alton.




Governor JB Pritzker was present along with representatives from the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to officially launch CZ Biohub Chicago - a cutting-edge research hub that is at the forefront in 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 are expanding their existing factory in Elgin and will create 50 full-time employees while maintaining 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 agreement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois university of illinois press staff ([[https://www.diigo.com/profile/pressez|https://www.diigo.com/profile/pressez]]). The Center assists entrepreneurs from the local area with help in creating or expanding their businesses through services such as free workshops on business planning and one-on-one sessions with experienced Business Advisors, and access to funding opportunities.




State leaders in Indiana are encouraging employers to offer higher salaries and benefits as a means of keeping childcare employees in the United States, who face a shortage of jobs. This comes following the closure of a child care facility in Bronzeville which struggled to retain staff.




Illinois Department of Labor also has launched an online tool to educate small [[https://kscripts.com/?s=businesses|businesses]] on the laws governing employment. Employers can search for keywords or browse categories on this site; as well as connect to state agencies and sources.




Illinois Business Development Authority (IBDA) is taking action to promote awareness of Illinois tax incentives for business expansion by hosting an online webinar on the subject. The webinar was recorded. It will then become archived and posted on their site.