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Illinois Business Developments

Illinois is the biggest market in the Midwest and the home of more than 2,000 corporate headquarters, an active startup scene and over 1.2 million small businesses, provides all the resources global firms require to flourish in the current business climate. The world's best infrastructure connects companies with suppliers and customers, to a talented workforce in various industries and a thriving manufacturing base, Illinois leads in many areas including advanced and sustainable agricultural technology, energy, and life sciences logistics for transportation.

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

In 2014, over $1 billion in incentives has 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 granted PsiQuantum Manufacturing with an incentive package that was worth over $200 million for their new high-tech manufacturing 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 bears press release (pressez.blog.fc2.com) to inaugurate CZ Biohub Chicago - a innovative research hub that is at the forefront of leading research. The 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 to develop innovative therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current production facility located in Elgin that will result in 50 full-time employment while keeping the 140 full-time positions they currently have.

The Illinois Small Business Development Center at Southern Illinois University is funded through a collaborative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The center provides entrepreneurs from the local area with help in beginning or expanding their business through services such as free business planning workshops One-on-one counseling sessions with expert Business Advisors, and access to funding opportunities.

State officials in Indiana are pushing employers to offer better wages and benefits as a way to keep child care workers employed nationwide which is a problem due to a shortage of work. This follows the closing of a child care facility in Bronzeville that struggled to keep its employees.

Illinois Department of Labor also launched an online tool designed to inform small-scale businesses about lawful employment practices. Employers can search using keywords or browse categories on this site, and connect to the appropriate state agencies and resources.

Illinois Business Development Authority (IBDA) has taken steps to raise awareness of Illinois' tax incentives for business expansion. The IBDA hosted the IBDA's webinar this week on this subject, which was recorded and will be available on their website.