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Illinois Business Developments

Illinois is the most populous marketplace in the Midwest and home to more than 2,000 corporate headquarters, a bustling entrepreneurial scene, and more than 1.2 million small enterprises, has all the resources that global businesses require to succeed in the modern business. From the world-class infrastructure that connects companies to suppliers and customers to a skilled workers in various fields as well as an advanced manufacturing base, Illinois excels in a variety of areas including advanced and sustainable agriculture, energy, IT life sciences and transportation logistics.

Illinois has seen tremendous international investment growth in recent years. Countries such as Britain, Japan, Germany and China were among the countries that most investing in Illinois in 2023. By that time, the amount was over USD $13.2 billion in the agribusiness, manufacturing and manufacturing sectors in Illinois alone.

Since 2014, over $1 billion worth of incentives have been given out under Illinois' Reimagining Energy and Vehicles program to firms that supply electric vehicles and renewable energy production. In the last month, DCEO also granted PsiQuantum Manufacturing with an incentive package that was worth over $200 million to build a state-of-the-art 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 launch CZ Biohub chicago Press releases - a revolutionary research hub located in the forefront of research. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well as develop groundbreaking therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their production facility located in Elgin, creating 50 full-time positions while keeping the 140 full-time positions they currently have.

The Illinois Small Business Development Center located 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 local entrepreneurs with assistance in creating or expanding their businesses through services such as free business planning workshops and one-on-one sessions with expert Business Advisors and access financing opportunities.

State officials in Indiana are insisting on employers offering higher pay and benefits as a means of keeping childcare employees in the United States which is a problem due to a shortage of job. The decision comes after the closing of a children's care facility in Bronzeville which struggled to retain staff.

Illinois Department of Labor also has launched an online tool to help small businesses understand labor laws. Employers can search by keyword or browse categories on the site, and connect to state agencies and resources.

Illinois Business Development Authority (IBDA) is taking action to make people aware of Illinois tax incentives that can be used for business expansion. The IBDA hosted an online webinar on the subject. The webinar was recorded and will become archived and posted on their site.