Illinois Business Developments

Illinois, as the largest markets in the Midwest and home to over two thousand corporate headquarters, an active business scene, and more than 1.2 million small businesses, is home to the infrastructure that firms require to flourish in the modern business. From the world-class infrastructure that connects businesses with their suppliers and customers to skilled workers in various fields as well as an advanced manufacturing base, Illinois has a leading position in many fields like advanced and clean agriculture, energy, IT life sciences, transportation logistics.

Illinois has witnessed a significant foreign investment growth over recent years. Countries such as Britain, Japan, Germany and China were among those most investing in Illinois in 2023. By that time, the sum was greater than USD $13.2 billion in the agribusiness, manufacturing and manufacturing areas in Illinois all by itself.

Since 2014, nearly $1 billion in incentives have been awarded under Illinois Reimagining Energy and Vehicles program to companies providing electric vehicles and clean energy production. This month, DCEO also granted PsiQuantum Manufacturing with an incentive package of more than 200 million dollars for their new advanced facility in East Alton.

Governor JB Pritzker accompanied by representatives of The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a innovative research hub that is that is at the forefront in scientific research. This project 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 manufacturing facility in Elgin and will create 50 full-time employees while maintaining 140 existing full-time positions intact.

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 offers entrepreneurs in the area with support for beginning or expanding their business through programs such as free business planning workshops individual counseling sessions with expert Business Advisors as well as access to financing opportunities.

State leaders in Indiana are encouraging employers to offer higher compensation and benefits as method of keeping child care employees in the United States and facing a lack of work. This follows the closing of a children's care facility located in Bronzeville which struggled to retain employees.

illinois media production companies (mirror.xyz) Department of Labor also created an online tool to help small businesses understand employment laws. Employers are able to search using keywords or browse categories on the site, and connect to the appropriate state agencies and sources.

Illinois Business Development Authority (IBDA) is taking steps to promote awareness of Illinois tax incentives that can be used for business expansion by hosting an interactive webinar about this topic. The event was recorded and will become archived and posted on their site.