Illinois Business Developments

Illinois, as the largest market of the Midwest and home to over two thousand corporate headquarters, a vibrant entrepreneurial scene, and more than 1.2 million small businesses, provides all the resources that global companies require to thrive in today's competitive business. The world's best infrastructure connects businesses with their suppliers and customers, to a skilled workforce across various industries and a thriving manufacturing base - Illinois has a leading position in many fields such as clean and advanced agricultural technology, energy, and life sciences and transportation logistics.

Illinois has seen a huge expansion of foreign investments in recent years. Countries such as Britain, Japan, Germany and China were among those most investing in Illinois In 2023, this total was more than USD $13.2 billion in manufacturing, agribusiness and other areas in Illinois alone.

In 2014, over $1 billion worth of incentives have been awarded under Illinois Media Literacy Law (Https://Pressez.Substack.Com/) Reimagining Energy and Vehicles program to firms that supply electric vehicles and green energy production. The program was announced last month. DCEO also provided PsiQuantum Manufacturing with an incentive package worth more than $200 million for their brand new state-of-the-art facility in East Alton.

Governor JB Pritzker was joined by representatives from The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to launch CZ Biohub Chicago - a innovative research hub that is that is at the forefront of cutting-edge research. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well and develop revolutionary therapies.

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

The Illinois Small Business Development Center located at Southern Illinois University is funded through a collaborative agreement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center provides local entrepreneurs with assistance in creating or expanding their businesses by offering services like free workshops on business planning and one-on-one sessions with experienced Business Advisors and access to financing options.

State officials in Indiana are pushing employers to offer better pay and benefits as a way to keep child care employees in the United States, who face a shortage of jobs. This follows the closure of a child care center in Bronzeville which was struggling to retain employees.

Illinois Department of Labor also launched an online tool designed to help small businesses understand the laws governing employment. Employers can search for keywords or browse categories on this site, and connect with state agencies and other resources.

Illinois Business Development Authority (IBDA) has taken steps to increase awareness about Illinois' tax incentives for business expansion. They hosted an interactive webinar on the subject. It was recorded. It will then become archived and posted on their site.