Illinois Business Developments

Illinois as the biggest marketplace in the Midwest and home to more than 2000 corporate headquarters, a vibrant startup scene and over 1.2 million small businesses, is home to all the resources that global companies require to thrive in the modern business. The world's best infrastructure connects businesses with their suppliers and customers, to a skilled workers in various fields and an advanced manufacturing base, Illinois leads in many areas like advanced and clean agricultural technology, energy, and life sciences, transportation logistics.

Illinois has seen tremendous increase in foreign investment over the last few years. Countries like Britain, Japan, Germany and China were among the countries that most investing in Illinois in 2023. By that time, the amount reached over USD $13.2 billion across the agribusiness, manufacturing and manufacturing areas in Illinois all by itself.

Since 2014, over $1 billion in incentives has 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 awarded PsiQuantum Manufacturing with an incentive package that was worth over $200 million for their new modern facility in East Alton.

Governor JB Pritzker was present along with representatives from his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to 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 the human development of tissues as well as develop groundbreaking therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their existing production facility located 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 between U.S. Small Business Administration, Illinois Department of Commerce and ftc press release - https://mirror.xyz, Economic Opportunity and Southern Illinois University. The Center provides local entrepreneurs with assistance in beginning or expanding their business through programs such as free business planning workshops individual counseling sessions with expert Business Advisors and access funding opportunities.

State officials in Indiana are encouraging employers to offer higher pay and benefits as a way to keep child care workers employed nationwide as they face a shortage of work. The decision comes after the closing of a children's care center in Bronzeville which struggled to retain staff.

Illinois Department of Labor also created an online tool to educate small businesses on employment laws. Employers are able to search using keywords or browse categories on the site, and connect to state agencies and information sources.

Illinois Business Development Authority (IBDA) is taking steps to increase awareness about Illinois' tax incentives for business expansion. The IBDA hosted an online webinar on the subject. The webinar was recorded. It will then appear on the website.