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Illinois Business Developments

Illinois is the most populous marketplace in the Midwest and the home of more than 2000 corporate headquarters, an active startup scene, and over 1.2 million small businesses, is home to the infrastructure that companies require to thrive in the modern business. The world's best infrastructure connects companies with suppliers and customers, to a skilled workforce across various industries and a thriving manufacturing base - Illinois excels in a variety of areas including advanced and sustainable agriculture, energy, IT life sciences logistics for transportation.

Illinois has seen a huge 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; by 2023 this amount reached over USD $13.2 billion in agriculture, manufacturing and other sectors in Illinois alone.

Since 2014, nearly $1 billion in incentives has been given out under Illinois' Reimagining Energy and Vehicles program to businesses that offer electric vehicles and renewable energy production. The program was announced last month. DCEO also granted PsiQuantum Manufacturing with an incentive package of more than 200 million dollars for their new high-tech facility in East Alton.

Governor JB Pritzker joined representatives from Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for 2seventy bio press Release (hashnode.com) the launch of CZ Biohub Chicago - a cutting-edge research hub in the forefront of research. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well to develop innovative therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their existing factory in Elgin which will create 50 full-time employment while keeping the 140 full-time jobs they have currently.

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 for beginning or expanding their business through services such as free workshops on business planning, one-on-one counseling sessions with expert Business Advisors and access funding opportunities.

State officials in Indiana are insisting on employers offering higher pay and benefits as a method of keeping child care workers working across the nation and facing a lack of work. The decision comes after the closure of a child care center located in Bronzeville that struggled to keep its staff.

Illinois Department of Labor also has launched an online tool to provide small-sized businesses with information on employment laws. Employers can search by keyword or browse categories on this website, as well as connect with state agencies and other resources.

Illinois Business Development Authority (IBDA) has taken steps to make people aware of Illinois' tax incentives for expanding businesses by hosting a webinar this week on the subject. The webinar was recorded. It will then be available on their website.