Illinois Business Developments

Illinois as the biggest market of the Midwest and home to over 2000 corporate headquarters, an active startup scene and over 1.2 million small businesses, is home to all of the assets global businesses need to be successful in the modern business. The world's best infrastructure connects companies to suppliers and customers, to a talented workforce in various industries and an advanced manufacturing base - Illinois is a leader in many areas like advanced and clean technology, agriculture, energy, life sciences and transportation logistics.

Illinois has seen a huge expansion of foreign investments in recent years. Countries such as Britain, Japan, Germany and China were among those most invested in illinois Press releases (www.diigo.Com) In 2023, this amount was over USD $13.2 billion in the agribusiness, manufacturing and manufacturing areas in Illinois all by itself.

Since 2014, nearly $1 billion worth of incentives have been granted under Illinois' Reimagining Energy and Vehicles program to businesses that offer electric vehicles and green energy production. The program was announced last month. DCEO also awarded PsiQuantum Manufacturing with an incentive package that was worth over $200 million to build a modern facility 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 to officially launch CZ Biohub Chicago - a groundbreaking research hub in the forefront of 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 as develop groundbreaking therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current production facility located in Elgin that will result in 50 full-time jobs while keeping the existing 140 full-time employees.

The Illinois Small Business Development Center at Southern Illinois University is funded through a collaborative agreement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center provides entrepreneurs from the local area with help in beginning or expanding their business with services that include free business planning workshops and one-on-one sessions with experienced Business Advisors as well as access to funding opportunities.

State leaders in Indiana are insisting on employers offering higher wages and benefits as a way to keep child care employees in the United States, who face a shortage of employment. This comes following the closing of a child care facility located in Bronzeville where it was difficult to retain employees.

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

Illinois Business Development Authority (IBDA) is working to raise awareness of Illinois tax incentives for business expansion. The IBDA hosted the IBDA's webinar this week about this topic. The event was recorded. The webinar will later become archived and posted on their site.