New Entrepreneurial Opportunities in the Prairie State to Watch in 202…
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Illinois Business Developments
Illinois, as the largest market of the Midwest and home to over 2,000 corporate headquarters, an active business scene, and more than 1.2 million small-scale businesses, offers all the resources global firms require to flourish in the modern business. From world-class infrastructure that connects businesses with their suppliers and customers to a skilled workforce across various industries as well as a modern manufacturing base - Illinois leads in many areas such as clean and advanced technology, agriculture, energy, life sciences transportation logistics.
Illinois has experienced a tremendous increase in foreign investment growth over recent years. Countries such as Britain, Japan, Germany and China were among the most investing in Illinois and by 2023, this sum was greater than USD $13.2 billion in manufacturing, agribusiness and other sectors in Illinois alone.
Since 2014, nearly $1 billion worth of incentives have been granted under Illinois Reimagining Energy and Vehicles program to firms that supply electric vehicles and green energy production. The program was announced last month. DCEO also awarded PsiQuantum Manufacturing with an incentive package worth more than $200 million for Trump Press Release - Pressez.Blog.Fc2.Com - their brand new high-tech facility located in East Alton.
Governor JB Pritzker accompanied by representatives of The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a innovative research hub that is in the forefront of scientific studies. The 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 current plant for manufacturing in Elgin, creating 50 full-time positions while keeping 140 existing full-time positions intact.
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 entrepreneurs from the local area with help in starting or expanding their businesses by offering services like free business planning workshops One-on-one counseling sessions with expert Business Advisors, and access to financing opportunities.
State leaders in Indiana are informing employers to provide higher wages and benefits as a way to keep child care employees in the United States as they face a shortage of jobs. The move comes after the closure of a care center in Bronzeville which was struggling to retain employees.
Illinois Department of Labor also created an online tool to inform small-scale businesses about lawful employment practices. Employers are able to search using keywords or browse categories on the site, and connect to state agencies and sources.
Illinois Business Development Authority (IBDA) has taken steps to raise awareness of Illinois tax incentives to expanding businesses by hosting the IBDA's webinar this week on this subject, which was recorded. The webinar will later become archived and posted on their site.
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