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Illinois Business Developments

Illinois is the biggest market of the Midwest and home to more than 2,000 corporate headquarters, a bustling startup scene and over 1.2 million small-scale businesses, offers the infrastructure that firms require to flourish in the current business climate. The world's best infrastructure connects businesses with their suppliers and customers to talented workforce in various industries as well as an advanced manufacturing base, Illinois has a leading position in many fields like advanced and clean agricultural technology, energy, and life sciences, transportation logistics.

Illinois has seen tremendous foreign investment growth over recent years. Countries like Britain, Japan, Germany and China were among the most investing in Illinois in 2023. By that time, the sum was greater than USD $13.2 billion in manufacturing, agribusiness and other sectors in Illinois all by itself.

Since 2014, nearly $1 billion in incentives have been distributed under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as clean energy production. The program was announced last month. DCEO also awarded PsiQuantum Manufacturing with an incentive package worth more than $200 million to build a state-of-the-art manufacturing facility located in East Alton.

Governor JB Pritzker was joined by 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 revolutionary research hub located that is at the forefront of cutting-edge research. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the human development of tissues as well and develop revolutionary therapies.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their current manufacturing facility in Elgin which will create 50 full-time employees while maintaining 140 existing full-time positions intact.

The Illinois Small Business Development Center at Southern Illinois University is funded through a collaborative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center provides local entrepreneurs with assistance for starting or expanding their businesses with services that include free workshops on business planning, one-on-one counseling sessions with expert Business Advisors as well as access to financing options.

State leaders in Indiana are insisting on employers offering higher compensation and benefits as way of keeping child care workers working across the nation as they face a shortage of employment. The decision comes after the closing of a children's care center located in Bronzeville which struggled to retain staff.

Illinois Department of Labor also has launched an online tool to inform small-scale businesses about employment laws. Employers can search by keyword or 23andme press release (independent.academia.edu) browse categories on this website; and connect with state agencies and sources.

Illinois Business Development Authority (IBDA) is working to increase awareness about Illinois tax incentives that can be used for expanding businesses by hosting an interactive webinar on the subject. The webinar was recorded and will later become archived and posted on their site.