Illinois Business Developments

Illinois as the biggest market in the Midwest and the home of more than 2,000 corporate headquarters, a thriving startup scene and press release 3m (https://pressez.substack.com/) over 1.2 million small-scale businesses, offers all the resources that global companies require to thrive in the current business climate. From world-class infrastructure which connects companies to suppliers and customers, to a talented workforce in various industries as well as an advanced manufacturing base - Illinois is a leader in many areas like advanced and clean technology, agriculture, energy, life sciences, transportation logistics.

Illinois has seen a huge expansion of foreign investments in recent years. Countries such as Britain, Japan, Germany and China were among those most invested in Illinois In 2023, this sum was greater than USD $13.2 billion across the agribusiness, manufacturing and manufacturing sectors in Illinois alone.

Since 2014, over $1 billion in incentives have been given out under Illinois Reimagining Energy and Vehicles program to firms that supply electric vehicles and renewable energy production. The program was announced last month. DCEO also rewarded PsiQuantum Manufacturing with an incentive package of more than $200 million for their new advanced facility in East Alton.

Governor JB Pritzker was joined by representatives from his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to launch CZ Biohub Chicago - a revolutionary research hub located that is at the forefront in scientific research. The 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 have expanded their manufacturing facility in Elgin that will result in 50 full-time jobs while keeping the 140 full-time jobs they have currently.

The Illinois 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 entrepreneurs in the area with support for the creation or expansion of their businesses through services such as free workshops on business planning, one-on-one counseling sessions with expert Business Advisors and access financing options.

State leaders in Indiana are informing employers to provide higher pay and benefits as a way to keep child care workers working across the nation and facing a lack of job. The decision comes after the closing of a child care center located 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 for keywords or browse categories on this website; and connect to the appropriate state agencies and sources.

Illinois Business Development Authority (IBDA) has taken steps to make people aware of Illinois tax incentives that can be used for business expansion by hosting an interactive webinar on the subject. It was recorded. The webinar will later become archived and posted on their site.