Illinois Business Developments
Illinois, as the largest marketplace in the Midwest and home to over two thousand corporate headquarters, an active business scene, and more than 1.2 million small businesses, provides all of the assets global businesses need to be successful in the modern business. The world's best infrastructure connects businesses with their suppliers and customers to skilled and knowledgeable workforces in various industries as well as an advanced manufacturing base, 7-11 press release (form.jotform.com) Illinois has a leading position in many fields including advanced and sustainable agriculture, energy, IT life sciences logistics for transportation.
Illinois has seen a huge international investment growth in recent years. Countries such as Britain, Japan, Germany and China were among the top countries investing in Illinois; by 2023 this total was more than USD $13.2 billion across the agribusiness, manufacturing and manufacturing areas in Illinois all by itself.
Since 2014, over $1 billion worth of incentives have been distributed under Illinois' Reimagining Energy and Vehicles program to companies providing electric vehicles and renewable energy production. Last month, DCEO also awarded PsiQuantum Manufacturing with an incentive package that was worth over $200 million for their brand new advanced manufacturing facility 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 innovative research hub that is in the forefront of scientific studies. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the human development of tissues as well and develop revolutionary therapies.
Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current manufacturing facility in Elgin which will create 50 full-time jobs while keeping 140 existing full-time positions intact.
The Illinois Small Business Development Center at Southern Illinois University is funded in part through a cooperative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The center provides local entrepreneurs with assistance for the creation or expansion of their businesses through programs such as free business planning workshops individual counseling sessions with expert Business Advisors and access funding opportunities.
State leaders in Indiana are pushing employers to offer better salaries and benefits as a way of keeping child care workers in the country and facing a lack of jobs. The decision comes after the closure of a care facility located in Bronzeville which struggled to retain employees.
Illinois Department of Labor also created an online tool to educate small businesses on the laws governing employment. Employers can search using keywords or browse categories on this site; as well as connect to state agencies and sources.
Illinois Business Development Authority (IBDA) has taken steps to promote awareness of Illinois tax incentives to business expansion by hosting an interactive webinar on this subject, which was recorded. It will then become archived and posted on their site.
