Illinois Business Developments

Illinois is the biggest marketplace in the Midwest and home to more than two thousand corporate headquarters, a bustling entrepreneurial scene, and more than 1.2 million small-scale businesses, offers the infrastructure that businesses need to be successful in the modern business. From world-class infrastructure which connects businesses with their suppliers and customers, to a skilled workforce across various industries as well as an advanced manufacturing base, Illinois excels in a variety of areas like advanced and clean agricultural technology, energy, and life sciences logistics for transportation.

Illinois has seen tremendous foreign investment growth over recent years. Countries like Britain, Japan, Germany and China were among the most investing in Illinois and by 2023, this total was more than USD $13.2 billion in manufacturing, agribusiness and other industries in Illinois all by itself.

Since 2014, more than $1 billion worth of incentives have been granted under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as green energy production. The program was announced last month. DCEO also rewarded PsiQuantum Manufacturing with an incentive package that was worth over $200 million to build a advanced facility located in East Alton.

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

Governor JB Pritzker and Flender Corporation recently announced they have expanded their plant for manufacturing in Elgin which will create 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 through a collaborative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center assists local entrepreneurs with assistance in beginning or expanding their business through programs such as free business planning workshops One-on-one counseling sessions with experienced Business Advisors and access financing opportunities.

State leaders in Indiana are encouraging employers how to cite a press release in chicago style (https://Mirror.Xyz) offer higher pay and benefits as a means of keeping childcare employees in the United States, who face a shortage of employment. The decision comes after the closing of a child care center located in Bronzeville which was struggling to retain staff.

Illinois Department of Labor also created an online tool to help small businesses understand the laws governing employment. Employers can search for keywords or browse categories on the website, as well as connect to the appropriate state agencies and sources.

Illinois Business Development Authority (IBDA) is working to promote awareness of Illinois tax incentives to expanding businesses by hosting a webinar this week on the subject. It was recorded and will become archived and posted on their site.