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Illinois Business Developments

Illinois as the biggest markets in the Midwest and the home of more than two thousand corporate headquarters, a bustling startup scene, and over 1.2 million small businesses, provides the infrastructure that companies require to thrive in the current business climate. From the world-class infrastructure that connects businesses to customers and suppliers to highly skilled and knowledgeable workforces in various industries and an advanced manufacturing base - Illinois has a leading position in many fields such as clean and advanced agricultural technology, energy, doj press release (Mirror.xyz) and life sciences transportation logistics.

Illinois has witnessed a significant foreign investment growth over recent years. Countries such as Britain, Japan, Germany and China were among the top countries investing in Illinois in 2023. By that time, the sum was greater than USD $13.2 billion across the agribusiness, manufacturing and manufacturing areas in Illinois all by itself.

Since 2014, over $1 billion in incentives have been granted under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and green energy production. The program was announced last month. DCEO also granted PsiQuantum Manufacturing with an incentive package worth more than $200 million for their brand new advanced manufacturing facility in East Alton.

Governor JB Pritzker was present along with representatives from Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a innovative research hub that is 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 have announced they are expanding their current manufacturing facility in Elgin which will create 50 full-time jobs while keeping the existing 140 full-time employees.

The Illinois Small Business Development Center at Southern Illinois University is funded in part through a cooperative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center offers local entrepreneurs with assistance for creating or expanding their businesses by offering services like free workshops on business planning One-on-one counseling sessions with expert Business Advisors, and access to funding opportunities.

State officials in Indiana are pushing employers to offer better pay and benefits as a method of keeping child care workers in the country which is a problem due to a shortage of employment. The move comes after the closure of a care center in Bronzeville which was struggling to retain employees.

Illinois Department of Labor also created an online tool to educate small businesses on labor laws. Employers can search using keywords or browse through categories on this site; as well as connect to the appropriate state agencies and sources.

Illinois Business Development Authority (IBDA) is taking steps to promote awareness of Illinois' tax incentives for business expansion. They hosted the IBDA's webinar this week on the subject. The webinar was recorded. The webinar will later be available on their website.