Illinois Business Developments
Illinois is the biggest market in the Midwest and home to over 2,000 corporate headquarters, an active startup scene and over 1.2 million small businesses, provides the infrastructure that companies require to thrive in the modern business. From world-class infrastructure that connects companies to suppliers and customers to skilled workers in various fields as well as an advanced manufacturing base - Illinois has a leading position in many fields such as clean and advanced energy, agribusiness, IT life sciences logistics for transportation.
Illinois has witnessed a significant foreign investment growth over recent years. Countries like Britain, Japan, Germany and China were among the top countries investing in Illinois in 2023. By that time, the amount reached over USD $13.2 billion across agriculture, manufacturing and other industries in Illinois alone.
In 2014, over $1 billion in incentives have been given out under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and clean energy production. This month, DCEO also rewarded PsiQuantum Manufacturing with an incentive package worth more than 200 million dollars for their new modern facility located in East Alton.
Governor JB Pritzker was present along with representatives from Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to launch CZ Biohub Chicago - a revolutionary research hub located in the forefront of research. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as and develop revolutionary therapies.
Governor JB Pritzker and Flender Corporation recently announced they have expanded their manufacturing facility in Elgin and will create 50 full-time employment while keeping the 140 full-time positions they currently have.
The dan hurley press conference illinois, form.jotform.com, Small Business Development Center at Southern Illinois University is funded partly through a cooperative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The center provides local entrepreneurs with assistance for the creation or expansion of their businesses with services that include free business planning workshops individual counseling sessions with expert Business Advisors and access financing options.
State officials in Indiana are informing employers to provide higher compensation and benefits as method of keeping child care employees in the United States and facing a lack of jobs. The move comes after the closing of a child care facility in Bronzeville which was struggling to retain employees.
Illinois Department of Labor also created an online tool to help small businesses understand employment laws. Employers can search by keyword or browse categories on this site, and connect to state agencies and other resources.
Illinois Business Development Authority (IBDA) is taking steps to increase awareness about Illinois tax incentives that can be used for expanding businesses by hosting the IBDA's webinar this week about this topic. The event was recorded. It will then appear on the website.