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Illinois Business Developments

Illinois is the most populous marketplace in the Midwest and home to more than 2,000 corporate headquarters, an active entrepreneurial scene, and more than 1.2 million small enterprises, has all of the assets global businesses need to be successful in the current business climate. From world-class infrastructure that connects companies to suppliers and customers to a talented workforce in various industries and an advanced manufacturing base - Illinois leads in many areas including advanced and sustainable agriculture, energy, IT life sciences logistics for transportation.

Illinois has witnessed a significant foreign investment growth over recent years. Countries such as Britain, Japan, Germany and China were among the countries that most investing in Illinois in 2023. By that time, the amount was over USD $13.2 billion across the agribusiness, manufacturing and manufacturing sectors in Illinois all by itself.

Since 2014, nearly $1 billion in incentives have been given out under Illinois' Reimagining Energy and Vehicles program to companies providing electric vehicles and green energy production. This month, DCEO also provided PsiQuantum Manufacturing with an incentive package of more than 200 million dollars for their new modern facility located in East Alton.

Governor JB Pritzker accompanied by representatives of his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to launch CZ Biohub Chicago - a innovative research hub that is at the forefront of leading research. This project will bring together 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, creating 50 full-time employees while maintaining the existing 140 full-time employees.

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 provides local entrepreneurs with assistance for starting or expanding their businesses with services that include free workshops on business planning and one-on-one sessions with expert Business Advisors as well as access to 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 as they face a shortage of employment. This follows the closing of a child care center located in Bronzeville that struggled to keep its staff.

illinois ag press release [independent.academia.edu] Department of Labor also introduced an online tool to help small businesses understand the laws governing employment. Employers can search using keywords or browse categories on this website, as well as connect to state agencies and information sources.

Illinois Business Development Authority (IBDA) is working to increase awareness about Illinois tax incentives to business expansion. They hosted an online webinar on the subject. The webinar was recorded and will be available on their website.