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Illinois Business Developments

Illinois, as the largest market in the Midwest and the home of more than two thousand corporate headquarters, a vibrant startup scene and over 1.2 million small businesses, provides all of the assets global businesses require to succeed in the modern business. The world's best infrastructure connects businesses to customers and suppliers to highly skilled workforce across various industries as well as an advanced manufacturing base, Illinois is a leader in many areas such as clean and advanced agriculture, energy, IT life sciences transportation logistics.

Illinois has witnessed a significant international investment growth in recent years. Countries like Britain, Japan, Germany and China were among the countries that most investing in Illinois; by 2023 this total was more than USD $13.2 billion in agriculture, manufacturing and other areas in Illinois all by itself.

Since 2014, over $1 billion worth of incentives have been granted under Illinois Reimagining Energy and Vehicles program to firms that supply electric vehicles and clean energy production. In the last month, DCEO also granted PsiQuantum Manufacturing with an incentive package worth more than $200 million for their brand new state-of-the-art facility located in East Alton.

Governor JB Pritzker was joined by representatives from his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a innovative research hub that is that is at the forefront in scientific studies. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well to develop innovative therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current manufacturing facility in Elgin, creating 50 full-time jobs 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 local entrepreneurs with assistance in beginning or expanding their business with services that include free business planning workshops individual counseling sessions with expert Business Advisors, and access to financing options.

State leaders in Indiana are encouraging employers to offer higher compensation and benefits as means of keeping childcare workers in the country and facing a lack of employment. The decision comes after the closing of a child care center in Bronzeville where it was difficult to retain employees.

Illinois Department of Labor also launched an online tool designed to help small businesses understand lawful employment practices. Employers can search by keyword or browse categories on this website, as well as connect to appropriate state agencies and information sources.

Illinois Business Development Authority (IBDA) what is a press release example (https://pressez.substack.com/) taking steps to promote awareness of Illinois tax incentives that can be used for expanding businesses by hosting a webinar this week about this topic. The event was recorded and will appear on the website.