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Illinois Business Developments

Illinois is the biggest market in the Midwest and home to more than 22,000 corporate headquarters, a thriving startup scene and over 1.2 million small businesses, provides the infrastructure that businesses need to be successful in today's competitive business. The world's best infrastructure connects businesses with their customers and suppliers to highly skilled workforce across various industries and a thriving manufacturing base, Illinois is a leader in many areas such as clean and advanced energy, agribusiness, IT life sciences transportation logistics.

Illinois has experienced a tremendous increase in increase in foreign investment over the last few years. Countries like Britain, Japan, Germany and China were among the top countries investing in Illinois and by 2023, this total was more than USD $13.2 billion in manufacturing, agribusiness and other sectors in Illinois all by itself.

Since 2014, over $1 billion worth of incentives have been given out under Illinois' Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as renewable energy production. Last month, DCEO also awarded PsiQuantum Manufacturing with an incentive package totaling over $200 million to build a high-tech facility in East Alton.

Governor JB Pritzker was present along with representatives from his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to officially launch CZ Biohub Chicago - a innovative research hub that is that is at the forefront of cutting-edge scientific research. This 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 manufacturing facility in Elgin which will create 50 full-time employees while maintaining 140 existing full-time positions intact.

The illinois 6 (mirror.xyz) Small Business Development Center at Southern Illinois University is funded in part through a cooperative arrangement 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 starting or expanding their businesses through programs such as free workshops on business planning individual counseling sessions with experienced Business Advisors and access financing opportunities.

State leaders in Indiana are pushing employers to offer better compensation and benefits as way to keep child care employees in the United States, who face a shortage of employment. The move comes after the closure of a child care facility located in Bronzeville which struggled to retain staff.

Illinois Department of Labor also introduced an online tool to provide small-sized businesses with information on labor laws. Employers can search by keyword or browse categories on the site, and connect to appropriate state agencies and information sources.

Illinois Business Development Authority (IBDA) has taken steps to increase awareness about Illinois tax incentives to business expansion. The IBDA hosted an interactive webinar about this topic. The event was recorded. It will then be archived on their website.