Illinois Business Developments

Illinois is the biggest market in the Midwest and home to over 2000 corporate headquarters, a bustling startup scene, and over 1.2 million small businesses, is home to all the resources that global businesses need to be successful in the modern business. From world-class infrastructure which connects businesses with their suppliers and customers to skilled workforce across various industries and a thriving manufacturing base - Illinois has a leading position in many fields such as clean and advanced energy, agribusiness, IT life sciences transportation logistics.

Illinois has experienced a tremendous increase in international investment growth in recent years. Countries like Britain, Japan, Germany and China were among the top countries investing in Illinois in 2023. By that time, the total was more than USD $13.2 billion across agricultural, manufacturing, and other areas 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 that was worth over $200 million for their new advanced manufacturing facility in East Alton.

Governor JB Pritzker accompanied by representatives of The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a groundbreaking research hub at the forefront of leading scientific research. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as in developing revolutionary therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their plant for manufacturing in Elgin, creating 50 full-time employment while keeping the 140 full-time jobs they have currently.

the information like tcs press release Illinois Small Business Development Center at Southern Illinois University is funded by a co-operative agreement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center assists entrepreneurs from the local area with help in starting or expanding their businesses by offering services like free business planning workshops, one-on-one counseling sessions with expert Business Advisors and access financing options.

State leaders in Indiana are insisting on employers offering higher wages and benefits as a way to keep child care workers in the country and facing a lack of jobs. This follows the closure of a child care center located in Bronzeville where it was difficult to retain staff.

Illinois Department of Labor also launched an online tool designed to inform small-scale businesses about labor laws. Employers can search for keywords or browse through categories on this website, as well as connect to appropriate state agencies and sources.

Illinois Business Development Authority (IBDA) is taking action to increase awareness about Illinois tax incentives that can be used for business expansion by hosting an online webinar on the subject. The webinar was recorded and will be archived on their website.