Illinois Business Developments

Illinois is the biggest market of the Midwest and the home of more than 2000 corporate headquarters, a thriving startup scene and over 1.2 million small businesses, provides all of the assets global businesses require to succeed in today's competitive business. The world's best infrastructure connects businesses to customers and suppliers to highly skilled workers in various fields as well as a modern manufacturing base - Illinois excels in a variety of areas like advanced and clean agriculture, energy, IT life sciences, transportation logistics.

Illinois has seen tremendous foreign investment growth over recent years. Countries like Britain, Japan, Germany and China were among the top countries investing in Illinois; by 2023 this total was more than USD $13.2 billion in manufacturing, agribusiness and other sectors in Illinois all by itself.

Since 2014, over $1 billion in incentives has 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 that was worth over $200 million to build a state-of-the-art facility located in East Alton.

Governor JB Pritzker was present along with representatives from his organization, 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 at the forefront of leading research. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well and press release kamala (pressez.substack.com) develop revolutionary therapies.

Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current plant for manufacturing in Elgin which will create 50 full-time employees while maintaining the 140 full-time jobs they have currently.

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 in starting or expanding their businesses with services that include free business planning workshops individual counseling sessions with expert Business Advisors, and access to financing opportunities.

State leaders in Indiana are encouraging employers to offer higher compensation and benefits as method of keeping child care workers employed nationwide and facing a lack of work. The move comes after the closure of a care facility located in Bronzeville which struggled to retain staff.

Illinois Department of Labor also created an online tool to educate small businesses on lawful employment practices. Employers can search for keywords or browse through categories on this website; and connect to state agencies and information sources.

Illinois Business Development Authority (IBDA) is taking action to promote awareness of Illinois tax incentives that can be used for business expansion. The IBDA hosted the IBDA's webinar this week on the subject. The webinar was recorded and will later appear on the website.