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Illinois Business Developments

Illinois is the biggest marketplace in the Midwest and home to over 22,000 corporate headquarters, a vibrant entrepreneurial scene, and jabil press release (https://start.me/) more than 1.2 million small businesses, provides all the resources global businesses require to succeed in the current business climate. From world-class infrastructure which connects companies with suppliers and customers to a skilled workers in various fields and a thriving manufacturing base - Illinois excels in a variety of areas including advanced and sustainable agricultural technology, energy, and life sciences logistics for transportation.

Illinois has experienced a tremendous increase in 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 In 2023, this total was more than USD $13.2 billion across agriculture, manufacturing and other sectors in Illinois alone.

Since 2014, over $1 billion worth of incentives have been awarded under Illinois Reimagining Energy and Vehicles program to firms that supply electric vehicles and renewable energy production. This month, DCEO also rewarded PsiQuantum Manufacturing with an incentive package worth more than 200 million dollars for their new high-tech manufacturing 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 that is at the forefront in research. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as as develop groundbreaking therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their factory in Elgin and will create 50 full-time jobs while keeping the 140 full-time positions they currently have.

The Illinois Small Business Development Center located at Southern Illinois University is funded partly 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 in beginning or expanding their business by offering services like free workshops on business planning One-on-one counseling sessions with expert Business Advisors and access to financing opportunities.

State leaders in Indiana are insisting on employers offering higher wages and benefits as a way to keep child care employees in the United States which is a problem due to a shortage of jobs. This follows the closure of a child care facility in Bronzeville which was struggling to retain staff.

Illinois Department of Labor also introduced an online tool to educate small businesses on employment laws. Employers can search using keywords or browse through categories on this site, and connect to the appropriate state agencies and resources.

Illinois Business Development Authority (IBDA) is working to make people aware of Illinois tax incentives for business expansion by hosting the IBDA's webinar this week about this topic. The event was recorded. It will then be available on their website.