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Illinois Business Developments

Illinois is the biggest marketplace in the Midwest and home to over 2000 corporate headquarters, a bustling startup scene, and over 1.2 million small enterprises, has all the resources that global businesses require to succeed in business today. From world-class infrastructure which connects businesses to suppliers and customers to a skilled workforce across various industries and an advanced manufacturing base, Illinois leads in many areas such as clean and advanced agricultural technology, energy, and life sciences, transportation logistics.

Illinois has experienced a tremendous increase in expansion of foreign investments in recent years. Countries such as Britain, Japan, Germany and China were among those most investing in Illinois; by 2023 this sum was greater than USD $13.2 billion in agricultural, manufacturing, and other sectors in Illinois alone.

Since 2014, over $1 billion in incentives have been granted under Illinois' Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as renewable energy production. The program was announced last month. DCEO also awarded PsiQuantum Manufacturing with an incentive package that was worth over $200 million for their brand new high-tech facility in East Alton.

Governor JB Pritzker was joined by representatives from the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a groundbreaking research hub at the forefront of leading scientific studies. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well and develop revolutionary therapies.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their existing manufacturing facility in Elgin which will create 50 full-time employment while keeping the 140 full-time positions they currently have.

The Illinois Small Business Development Center located at Southern Illinois University is funded through a collaborative agreement 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 beginning or expanding their business with services that include free workshops on business planning One-on-one counseling sessions with experienced Business Advisors and access to financing opportunities.

State leaders in Indiana are pushing employers to offer better salaries and benefits as a means of keeping childcare workers working across the nation 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 launched an online tool designed to inform small-scale businesses about lawful employment practices. Employers can search for keywords or browse categories on this site; as well as connect to the appropriate state agencies and other resources.

Illinois Business Development Authority (IBDA) has taken steps to raise awareness of Illinois tax incentives that can be used for press release 5 w's (pressez.blog.fc2.com) business expansion. They hosted an online webinar about this topic. The event was recorded. The webinar will later be available on their website.