Illinois Business Developments

Illinois as the biggest marketplace in the Midwest and home to over two thousand corporate headquarters, a thriving business scene, and fbi press release - form.jotform.com, more than 1.2 million small businesses, provides all the resources global firms require to flourish in the modern business. From the world-class infrastructure that connects companies to suppliers and customers, to a skilled workforce across various industries and an advanced manufacturing base - Illinois has a leading position in many fields such as clean and advanced agriculture, energy, IT life sciences, transportation logistics.

Illinois has experienced a tremendous increase in increase in foreign investment over the last few years. Countries like Britain, Japan, Germany and China were among the most invested in Illinois; by 2023 this amount reached over USD $13.2 billion in manufacturing, agribusiness and other areas in Illinois alone.

Since 2014, over $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 awarded PsiQuantum Manufacturing with an incentive package of more than $200 million for their brand new state-of-the-art manufacturing facility in East Alton.

Governor JB Pritzker was present along with representatives from 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 research. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as to develop innovative therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current plant for manufacturing in Elgin, creating 50 full-time employment while keeping the 140 full-time positions they currently have.

The Illinois Small Business Development Center located at Southern Illinois University is funded in part 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 starting or expanding their businesses by offering services like free business planning workshops One-on-one counseling sessions with experienced Business Advisors and access financing options.

State officials in Indiana are pushing employers to offer better compensation and benefits as way to keep child care workers working across the nation as they face a shortage of job. This follows the closure of a care center in Bronzeville which struggled to retain staff.

Illinois Department of Labor also has launched an online tool to help small businesses understand employment laws. Employers can search using keywords or browse categories on the site; as well as connect to the appropriate state agencies and sources.

Illinois Business Development Authority (IBDA) is taking steps to raise awareness of Illinois tax incentives to expanding businesses by hosting a webinar this week on this subject, which was recorded and will be available on their website.