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Illinois Business Developments

Illinois as the biggest marketplace in the Midwest and home to over 22,000 corporate headquarters, a thriving business scene, and more than 1.2 million small businesses, is home to all of the assets global businesses need to be successful in business today. From world-class infrastructure which connects companies to suppliers and customers, to a skilled workforce across various industries and an advanced manufacturing base - Illinois leads in many areas like advanced and clean agricultural technology, energy, press Release 3d systems (start.me) and life sciences, transportation logistics.

Illinois has witnessed a significant international investment growth in recent years. Countries like Britain, Japan, Germany and China were among the countries that most invested in Illinois and by 2023, this total was more than USD $13.2 billion in agricultural, manufacturing, and other sectors in Illinois all by itself.

Since 2014, nearly $1 billion in incentives have been granted under Illinois' Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as green energy production. In the last month, DCEO also awarded PsiQuantum Manufacturing with an incentive package totaling over $200 million for their new state-of-the-art manufacturing facility located in East Alton.

Governor JB Pritzker joined representatives from the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a cutting-edge research hub 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 development of human tissues as well in developing revolutionary therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their current manufacturing facility in Elgin that will result in 50 full-time employment 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 between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center offers local entrepreneurs with assistance in beginning or expanding their business with services that include free workshops on business planning individual counseling sessions with expert Business Advisors as well as access to funding opportunities.

State officials in Indiana are insisting on employers offering higher pay and benefits as a way to keep child care workers working across the nation as they face a shortage of jobs. The move comes after the closure of a child care facility in Bronzeville where it was difficult to retain employees.

Illinois Department of Labor also has launched an online tool to educate small businesses on labor laws. Employers can search using keywords or browse categories on the website, as well as connect to appropriate state agencies and sources.

Illinois Business Development Authority (IBDA) is taking action to make people aware of Illinois tax incentives that can be used for business expansion by hosting an interactive webinar on this subject, which was recorded. It will then become archived and posted on their site.