Illinois Business Developments

Illinois is the biggest market of the Midwest and home to over two thousand corporate headquarters, a bustling entrepreneurial scene, and more than 1.2 million small enterprises, has all the resources that global businesses require to succeed in business today. From world-class infrastructure that connects businesses to suppliers and customers to skilled workforce across various industries as well as a modern manufacturing base - Illinois has a leading position in many fields like advanced and clean technology, agriculture, energy, life sciences and transportation logistics.

Illinois has seen a huge expansion of foreign investments in recent years. Countries such as Britain, Japan, Germany and China were among the most investing in Illinois in 2023. By that time, the amount was over USD $13.2 billion in the agribusiness, manufacturing and manufacturing sectors in Illinois all by itself.

In 2014, over $1 billion in incentives has been given out under Illinois' Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as clean energy production. In the last month, DCEO also rewarded PsiQuantum Manufacturing with an incentive package worth more than $200 million to build a high-tech manufacturing facility located in East Alton.

Governor JB Pritzker accompanied by representatives of his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a groundbreaking research hub in the forefront of research. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as as develop groundbreaking therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their current production facility located in Elgin and will create 50 full-time employees while maintaining the existing 140 full-time employees.

The Illinois Small Business Development Center at Southern Illinois University is funded in part through a cooperative agreement between 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 creating or expanding their businesses by offering services like free business planning workshops One-on-one counseling sessions with experienced Business Advisors as well as access to financing options.

State leaders in Indiana are informing employers to provide higher compensation and benefits as way of keeping child care workers in the country, who face a shortage of employment. This follows the closure of a care facility located in Bronzeville which was struggling to retain staff.

Illinois Department of Labor also created an online tool to help small businesses understand the laws governing employment. Employers can search using keywords or browse categories on this website, as well as connect to state agencies and resources.

Illinois Business Development Authority (IBDA) has taken steps to increase awareness about presser vs. illinois (www.speedrun.com)' tax incentives for business expansion by hosting the IBDA's webinar this week about this topic. The event was recorded. It will then become archived and posted on their site.