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Illinois Business Developments

Illinois is the biggest market of the Midwest and the home of more than 2000 corporate headquarters, a thriving business scene, and more than 1.2 million small enterprises, has all the resources that global companies require to thrive in the modern business. From world-class infrastructure which connects companies to suppliers and customers to a skilled workers in various fields and a thriving manufacturing base - Illinois is a leader in many areas like advanced and clean agricultural technology, energy, and life sciences and transportation logistics.

Illinois has witnessed a significant international investment growth in recent years. Countries such as Britain, Japan, Germany and China were among those most invested in Illinois; by 2023 this sum was greater than USD $13.2 billion across manufacturing, agribusiness and other industries in Illinois all by itself.

Since 2014, more than $1 billion in incentives were distributed under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as green energy production. This month, DCEO also granted PsiQuantum Manufacturing with an incentive package totaling over 200 million dollars for their new advanced 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 to launch CZ Biohub Chicago - a revolutionary research hub located that is at the forefront of cutting-edge scientific studies. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as to develop innovative therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their existing manufacturing facility in Elgin, creating 50 full-time employees while maintaining the 140 full-time positions they currently have.

The Illinois Small Business Development Center at Southern Illinois University is funded through a collaborative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The center provides local entrepreneurs with assistance press release for immediate release (https://pressez.substack.com) starting or expanding their businesses through services such as free business planning workshops individual counseling sessions with experienced Business Advisors as well as access to financing options.

State leaders in Indiana are informing employers to provide higher compensation and benefits as means of keeping childcare workers employed nationwide and facing a lack of job. The move comes after the closure of a care facility located in Bronzeville which struggled to retain staff.

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

Illinois Business Development Authority (IBDA) is taking action to raise awareness of Illinois tax incentives to business expansion. The IBDA hosted an interactive webinar about this topic. The event was recorded. It will then be available on their website.