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Illinois Business Developments
Illinois, as the largest markets in the Midwest and home to over 2,000 corporate headquarters, a vibrant business scene, and more than 1.2 million small enterprises, has all the resources that global businesses need to be successful in business today. From the world-class infrastructure that connects companies with customers and suppliers to highly skilled workforce across various industries and an advanced manufacturing base, Illinois excels in a variety of areas including advanced and sustainable agricultural technology, energy, and life sciences transportation logistics.
Illinois has seen a huge increase in foreign investment over the last few years. Countries like Britain, Japan, Germany and China were among the top countries invested in Illinois In 2023, this amount reached over USD $13.2 billion in the agribusiness, manufacturing and manufacturing sectors in Illinois all by itself.
In 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. Last month, DCEO also granted PsiQuantum Manufacturing with an incentive package worth more than $200 million for their brand new advanced facility in East Alton.
governor kemp press release, diigo.com, JB Pritzker accompanied by representatives of the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a revolutionary research hub located in the forefront of 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 develop revolutionary therapies.
Governor JB Pritzker and Flender Corporation recently announced they have expanded their plant for manufacturing in Elgin and will create 50 full-time jobs while keeping 140 existing full-time positions intact.
The Illinois Small Business Development Center at Southern Illinois University is funded by a co-operative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center provides local entrepreneurs with assistance in starting or expanding their businesses with services that include free workshops on business planning, one-on-one counseling sessions with expert Business Advisors and access to financing options.
State officials in Indiana are insisting on employers offering higher pay and benefits as a way to keep child care workers employed nationwide and facing a lack of work. The decision comes after the closing of a children's care facility located in Bronzeville which struggled to retain staff.
Illinois Department of Labor also launched an online tool designed to educate small businesses on the laws governing employment. Employers are able to search using keywords or browse through categories on this website; and connect to appropriate state agencies and information sources.
Illinois Business Development Authority (IBDA) is taking action to promote awareness of Illinois tax incentives to business expansion. The IBDA hosted the IBDA's webinar this week on this subject, which was recorded and will appear on the website.
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