Illinois Business Developments

Illinois as the biggest marketplace in the Midwest and home to over 2,000 corporate headquarters, a vibrant startup scene, and over 1.2 million small enterprises, has the infrastructure that businesses need to be successful in today's competitive business. The world's best infrastructure connects companies with customers and suppliers to highly talented workforce in various industries and an advanced manufacturing base, Illinois excels in a variety of areas like advanced and clean technology, agriculture, energy, life sciences logistics for transportation.

Illinois has witnessed a significant international investment growth in recent years. Countries such as Britain, Japan, Germany and China were among the most investing in Illinois and by 2023, this amount was over USD $13.2 billion in the agribusiness, manufacturing and manufacturing sectors in Illinois alone.

Since 2014, more than $1 billion in incentives were granted under Illinois' Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as clean energy production. This month, DCEO also granted PsiQuantum Manufacturing with an incentive package totaling over $200 million to build a modern facility located in East Alton.

Governor JB Pritzker accompanied by representatives of Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to launch CZ Biohub Chicago - a cutting-edge research hub that is at the forefront in research. 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 are expanding their existing production facility located in Elgin and 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 agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center assists entrepreneurs in the area with support for the creation or expansion of their businesses by offering services like free business planning workshops individual counseling sessions with expert Business Advisors and access funding opportunities.

State officials in Indiana are encouraging employers to offer higher wages and benefits as a method of keeping child care employees in the United States and facing a lack of jobs. This comes following the closure of a child care facility in Bronzeville that struggled to keep its staff.

Illinois Department of Labor also introduced an online tool to help small businesses understand labor laws. Employers can search for keywords or browse through categories on this site, and connect with state agencies and resources.

Illinois Business Development Authority (IBDA) is working to promote awareness of Illinois tax incentives that can be used for expanding businesses by hosting an interactive webinar on this subject, which was recorded. The webinar will later be available on their website.