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Illinois Business Developments

Illinois, as the largest market in the Midwest and the home of more than two thousand corporate headquarters, a vibrant business scene, and more than 1.2 million small-scale businesses, offers the infrastructure that firms require to flourish in business today. From world-class infrastructure that connects companies with customers and suppliers to highly skilled workforce across various industries as well as an advanced manufacturing base - Illinois leads in many areas like advanced and clean agriculture, energy, IT life sciences and transportation logistics.

Illinois has witnessed a significant international investment growth in recent years. Countries like Britain, Japan, Germany and China were among the most investing in Illinois; by 2023 this sum was greater than USD $13.2 billion across manufacturing, agribusiness and other areas in Illinois all by itself.

Since 2014, more than $1 billion in incentives has been granted under Illinois' Reimagining Energy and Vehicles program to companies providing electric vehicles and clean energy production. The program was announced last month. DCEO also provided PsiQuantum Manufacturing with an incentive package of more than 200 million dollars for their new state-of-the-art facility in East Alton.

Governor JB Pritzker was joined by representatives from the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a innovative research hub that is in the forefront of scientific research. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the human development of tissues as well in developing revolutionary therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their current factory in Elgin which will create 50 full-time employment while keeping the 140 full-time jobs they have currently.

The Illinois Small Business Development Center located at Southern Illinois University is funded through a collaborative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Yahoo press release - mirror.xyz, Economic Opportunity and Southern Illinois University. The Center assists local entrepreneurs with assistance in creating or expanding their businesses with services that include free business planning workshops One-on-one counseling sessions with experienced Business Advisors and access financing opportunities.

State leaders in Indiana are encouraging employers to offer higher salaries and benefits as a way of keeping child care workers in the country as they face a shortage of jobs. The move comes after the closure of a child care facility located in Bronzeville which was struggling to retain employees.

Illinois Department of Labor also has launched an online tool to help small businesses understand the laws governing employment. Employers are able to search using keywords or browse categories on this site, and connect with state agencies and sources.

Illinois Business Development Authority (IBDA) is taking steps to raise awareness of Illinois' tax incentives for business expansion by hosting the IBDA's webinar this week about this topic. The event was recorded and will be archived on their website.