Illinois Business Developments

Illinois is the biggest market of the Midwest and home to over 2,000 corporate headquarters, a thriving business scene, and more than 1.2 million small-scale businesses, offers all the resources that global companies require to thrive in today's competitive business. From world-class infrastructure that connects businesses with their customers and suppliers to highly skilled workers in various fields as well as an advanced manufacturing base, Illinois is a leader in many areas such as clean and advanced energy, agribusiness, IT life sciences and transportation logistics.

Illinois has witnessed a significant increase in foreign investment over the last few years. Countries such as Britain, Japan, Germany and China were among the most invested in Illinois; by 2023 this total was more than USD $13.2 billion in the agribusiness, manufacturing and manufacturing areas in northern illinois press (www.diigo.com

) all by itself.

Since 2014, over $1 billion in incentives were 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 provided PsiQuantum Manufacturing with an incentive package totaling over $200 million to build a advanced manufacturing facility in East Alton.

Governor JB Pritzker accompanied by representatives of The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to officially launch CZ Biohub Chicago - a innovative research hub that is at the forefront of leading scientific studies. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well in developing revolutionary therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their production facility located in Elgin which will create 50 full-time positions while keeping the existing 140 full-time employees.

The Illinois Small Business Development Center located at Southern Illinois University is funded through a collaborative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The center provides entrepreneurs from the local area with help in beginning or expanding their business through programs such as free workshops on business planning individual counseling sessions with expert 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, who face a shortage of employment. This comes following the closure of a child care facility located in Bronzeville which struggled to retain employees.

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

Illinois Business Development Authority (IBDA) is taking steps to promote awareness of Illinois tax incentives that can be used for expanding businesses by hosting the IBDA's webinar this week on this subject, which was recorded and will later become archived and posted on their site.