Illinois Business Developments

Illinois is the most populous market of the Midwest and home to over 2,000 corporate headquarters, a vibrant business scene, and more than 1.2 million small businesses, is home to the infrastructure that companies require to thrive in the modern business. From the world-class infrastructure that connects companies to suppliers and customers to a talented workforce in various industries and a thriving manufacturing base, Illinois excels in a variety of areas like advanced and clean agriculture, energy, IT life sciences, transportation logistics.

Illinois has seen tremendous expansion of foreign investments in recent years. Countries such as Britain, Japan, Germany and China were among the countries that most investing in Illinois In 2023, this amount reached over USD $13.2 billion across the agribusiness, manufacturing and manufacturing industries in Illinois alone.

Since 2014, more than $1 billion in incentives has been given out under Illinois' Reimagining Energy and Vehicles program to companies providing electric vehicles and clean energy production. The program was announced last month. DCEO also awarded PsiQuantum Manufacturing with an incentive package totaling over 200 million dollars for their new modern manufacturing facility located in East Alton.

Governor JB Pritzker was joined by 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 innovative research hub that is in the forefront of scientific studies. The project will unite 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 are expanding their existing production facility located in Elgin that will result in 50 full-time jobs while keeping the 140 full-time positions they currently have.

The illinois dot news, https://mirror.xyz/0x012D387ca842d46f8dc4670bc6a8c919ce26343c, Small Business Development Center located at Southern Illinois University is funded partly through a cooperative agreement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center offers entrepreneurs in the area with support for starting or expanding their businesses through services such as free workshops on business planning and one-on-one sessions with expert Business Advisors as well as access to funding opportunities.

State leaders in Indiana are insisting on employers offering higher compensation and benefits as means of keeping childcare workers in the country which is a problem due to a shortage of jobs. The move comes after the closing of a children's care facility in Bronzeville where it was difficult to retain employees.

Illinois Department of Labor also introduced an online tool to inform small-scale businesses about lawful employment practices. Employers are able to search using keywords or browse through categories on this website, as well as connect to state agencies and other resources.

Illinois Business Development Authority (IBDA) is working to raise awareness of Illinois tax incentives for expanding businesses by hosting an online webinar on the subject. It was recorded. The webinar will later appear on the website.