Emerging Entrepreneurial Trends in Illinois to Watch This Year
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Illinois Business Developments
Illinois, as the largest market in the Midwest and the home of more than 22,000 corporate headquarters, a bustling startup scene and over 1.2 million small enterprises, has all the resources global companies require to thrive in the modern business. From world-class infrastructure that connects businesses to suppliers and customers to skilled and knowledgeable workforces in various industries as well as a modern manufacturing base - Illinois has a leading position in many fields like advanced and clean agriculture, energy, IT life sciences logistics for transportation.
Illinois has experienced a tremendous increase in international investment growth in recent years. Countries like Britain, Japan, Germany and China were among those most invested in Illinois In 2023, this amount was over USD $13.2 billion in manufacturing, agribusiness and other industries in Illinois alone.
Since 2014, over $1 billion in incentives has been granted under Illinois' Reimagining Energy and Vehicles program to companies providing electric vehicles and green energy production. This month, DCEO also granted PsiQuantum Manufacturing with an incentive package that was worth over $200 million to build a high-tech manufacturing facility in East Alton.
Governor JB Pritzker was present along with representatives from Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a cutting-edge research hub that is at the forefront of cutting-edge 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 to develop innovative therapeutics.
Governor JB Pritzker and Flender Corporation recently announced they are expanding their current production facility located in Elgin, creating 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 among U.S. Small Business Administration, illinois news today earthquake - https://www.diigo.com/profile/pressez - Department of Commerce and Economic Opportunity and Southern Illinois University. The Center assists local entrepreneurs with assistance for starting or expanding their businesses by offering services like free workshops on business planning individual counseling sessions with expert Business Advisors as well as access to financing options.
State leaders in Indiana are informing employers to provide higher pay and benefits as a method of keeping child care workers working across the nation as they face a shortage of jobs. This follows the closing of a children's care facility located in Bronzeville which was struggling to retain employees.
Illinois Department of Labor also created an online tool to help small businesses understand the laws governing employment. Employers can search by keyword or browse through categories on this site; as well as connect with state agencies and resources.
Illinois Business Development Authority (IBDA) is working to increase awareness about Illinois tax incentives that can be used for business expansion. The IBDA hosted an interactive webinar on the subject. The webinar was recorded. It will then become archived and posted on their site.
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