external page Illinois Business Developments
Illinois, as the largest marketplace in the Midwest and the home of more than 22,000 corporate headquarters, a thriving startup scene, and over 1.2 million small-scale businesses, offers all the resources that global businesses require to succeed in today's competitive business. From world-class infrastructure which connects companies to suppliers and customers, to a talented workforce in various industries and a thriving manufacturing base, Illinois has a leading position in many fields like advanced and clean technology, agriculture, energy, life sciences, transportation logistics.
Illinois has seen a huge foreign investment growth over recent years. Countries such as Britain, Japan, Germany and China were among the countries that most invested in Illinois in 2023. By that time, the total was more than USD $13.2 billion across manufacturing, agribusiness and other sectors in Illinois all by itself.
Since 2014, over $1 billion in incentives were distributed under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as renewable energy production. This month, DCEO also rewarded PsiQuantum Manufacturing with an incentive package of more than $200 million for their new high-tech facility in East Alton.
Governor JB Pritzker was present along with representatives from his organization, Chan Zuckerberg Initiative, fox news press release (independent.academia.edu) Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a revolutionary research hub located at the forefront of leading 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 are expanding their existing factory in Elgin that will result in 50 full-time employees while maintaining 140 existing full-time positions intact.
The Illinois Small Business Development Center located at Southern Illinois University is funded by a co-operative agreement among 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 through services such as free workshops on business planning One-on-one counseling sessions with expert Business Advisors and access to financing options.
State leaders in Indiana are pushing employers to offer better pay and benefits as a way to keep child care workers working across the nation, who face a shortage of employment. This comes following the closing of a children's care facility in Bronzeville which struggled to retain employees.
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 this site; as well as connect with state agencies and sources.
Illinois Business Development Authority (IBDA) is taking steps to increase awareness about Illinois' tax incentives for expanding businesses by hosting an online webinar on the subject. The webinar was recorded and will later appear on the website.