Illinois Business Developments

Illinois is the biggest market in the Midwest and home to more than 2,000 corporate headquarters, an active startup scene and over 1.2 million small businesses, is home to all of the assets global businesses require to succeed in today's competitive business. From the world-class infrastructure that connects businesses with their suppliers and customers to a skilled workers in various fields and a thriving manufacturing base - Illinois has a leading position in many fields like advanced and clean agriculture, energy, IT life sciences, transportation logistics.

Illinois has seen a huge increase in foreign investment over the last few years. Countries such as Britain, Japan, Germany and China were among the top countries invested in Illinois; by 2023 this total was more than USD $13.2 billion across agricultural, manufacturing, and other industries in Illinois all by itself.

Since 2014, over $1 billion in incentives were given out under Illinois Reimagining Energy and Vehicles program to firms that supply electric vehicles and green energy production. Last month, DCEO also granted PsiQuantum Manufacturing with an incentive package of more than $200 million to build a modern manufacturing facility in East Alton.

Governor JB Pritzker was present along with representatives from the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to launch CZ Biohub Chicago - a groundbreaking research hub at the forefront of leading research. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well in developing revolutionary therapeutics.

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

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 assists local entrepreneurs with assistance for starting or expanding their businesses through programs such as free business planning workshops One-on-one counseling sessions with experienced Business Advisors and access to financing opportunities.

State leaders in Indiana are pushing employers to offer better compensation and kettlebell floor press benefits - www.speedrun.com - as way of keeping child care workers working across the nation and facing a lack of jobs. The move comes after the closing of a children's care center in Bronzeville which struggled 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 categories on the site; as well as connect to appropriate state agencies and sources.

Illinois Business Development Authority (IBDA) is taking action to promote awareness of Illinois' tax incentives for business expansion by hosting a webinar this week on this subject, which was recorded. It will then appear on the website.