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Illinois Business Developments

Illinois as the biggest markets in the Midwest and home to over 2000 corporate headquarters, a vibrant startup scene, and over 1.2 million small businesses, provides all the resources that global companies require to thrive in the current business climate. The world's best infrastructure connects companies to suppliers and customers to a skilled and knowledgeable workforces in various industries and a thriving manufacturing base, Illinois is a leader in many areas including advanced and sustainable agricultural technology, energy, and life sciences transportation logistics.

Illinois has seen a huge international investment growth in recent years. Countries like Britain, Japan, Germany and China were among the most invested in Illinois; by 2023 this sum was greater than USD $13.2 billion across the agribusiness, manufacturing and manufacturing industries in Illinois all by itself.

Since 2014, over $1 billion in incentives have been distributed under Illinois' Reimagining Energy and Vehicles program to firms that supply electric vehicles and green energy production. The program was announced last month. DCEO also provided PsiQuantum Manufacturing with an incentive package that was worth over $200 million to build cite a press release in chicago style [https://hashnode.com] modern 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 to inaugurate CZ Biohub Chicago - a revolutionary research hub located that is at the forefront in scientific research. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well in developing revolutionary therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their current

manufacturing facility 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 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 entrepreneurs from the local area with help in beginning or expanding their business by offering services like 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 encouraging employers to offer higher pay and benefits as a method of keeping child care workers employed nationwide which is a problem due to a shortage of jobs. The decision comes after the closure of a child care center in Bronzeville where it was difficult to retain staff.

Illinois Department of Labor also has launched an online tool to inform small-scale businesses about employment laws. Employers can search using keywords or browse through categories on this website, as well as connect to appropriate state agencies and resources.

Illinois Business Development Authority (IBDA) is working to promote awareness of Illinois tax incentives to business expansion. The IBDA hosted an online webinar on the subject. It was recorded. The webinar will later be available on their website.