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Illinois Business Developments

Illinois, as the largest marketplace in the Midwest and the home of more than 2,000 corporate headquarters, a thriving entrepreneurial scene, and more than 1.2 million small enterprises, has the infrastructure that firms require to flourish in the current business climate. From world-class infrastructure which connects businesses to suppliers and customers to skilled workers in various fields as well as an advanced manufacturing base - Illinois has a leading position in many fields such as clean and advanced agriculture, energy, press release 39th gst council meeting; www.speedrun.com, IT life sciences and transportation logistics.

Illinois has seen tremendous foreign investment growth over recent years. Countries like Britain, Japan, Germany and China were among those most invested in Illinois in 2023. By that time, the sum was greater than USD $13.2 billion across agricultural, manufacturing, and other sectors in Illinois all by itself.

In 2014, over $1 billion worth of incentives have been awarded under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and renewable energy production. Last month, DCEO also provided PsiQuantum Manufacturing with an incentive package of more than 200 million dollars for their new high-tech manufacturing facility located 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 launch CZ Biohub Chicago - a groundbreaking research hub that is at the forefront of cutting-edge scientific research. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well as develop groundbreaking therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their factory in Elgin which will create 50 full-time employment while keeping 140 existing full-time positions intact.

The Illinois Small Business Development Center located 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 provides local entrepreneurs with assistance for starting or expanding their businesses with services that include free workshops on business planning, one-on-one counseling sessions with experienced Business Advisors and access to financing options.

State leaders in Indiana are informing employers to provide higher pay and benefits as a method of keeping child care workers working across the nation as they face a shortage of job. This follows the closing of a child care facility located in Bronzeville where it was difficult to retain employees.

Illinois Department of Labor also introduced an online tool to educate small businesses on employment laws. Employers are able to search using keywords or browse categories on the site, and connect with state agencies and information sources.

Illinois Business Development Authority (IBDA) is taking steps to make people aware of Illinois tax incentives for expanding businesses by hosting an interactive webinar on the subject. It was recorded and will appear on the website.