Illinois Business Developments

Illinois is the biggest market of the Midwest and the home of more than 22,000 corporate headquarters, an active entrepreneurial scene, and more than 1.2 million small-scale businesses, offers the infrastructure that firms require to flourish in business today. From world-class infrastructure which connects businesses with their suppliers and 49th gst council meeting press release pdf customers to a talented workforce in various industries and an advanced manufacturing base, Illinois leads in many areas such as clean and advanced technology, agriculture, energy, life sciences and transportation logistics.

Illinois has seen a huge increase in foreign investment over the last few years. Countries such as Britain, Japan, Germany and China were among the countries that most invested in Illinois and by 2023, this sum was greater than USD $13.2 billion in manufacturing, agribusiness and other sectors in Illinois alone.

Since 2014, over $1 billion in incentives were given out under Illinois' Reimagining Energy and Vehicles program to companies providing electric vehicles and clean energy production. Last month, DCEO also provided PsiQuantum Manufacturing with an incentive package totaling over $200 million for their new state-of-the-art manufacturing facility in East Alton.

Governor JB Pritzker was present along with representatives from The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a revolutionary research hub located that is at the forefront in research. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well as develop groundbreaking therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current plant for manufacturing in Elgin which will create 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 by a co-operative agreement between 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 creating or expanding their businesses through services such as free workshops on business planning and one-on-one sessions with experienced Business Advisors as well as access to financing opportunities.

State leaders in Indiana are insisting on employers offering higher pay and benefits as a way of keeping child care workers in the country and facing a lack of job. The move comes after the closure of a child care center located in Bronzeville which was struggling to retain employees.

Illinois Department of Labor also has launched an online tool to educate small businesses on labor laws. Employers are able to search using keywords or browse through categories on this website; and connect with state agencies and other resources.

Illinois Business Development Authority (IBDA) has taken steps to make people aware of Illinois tax incentives to business expansion. The IBDA hosted an interactive webinar on the subject. The webinar was recorded and will later be archived on their website.