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Illinois Business Developments

Illinois is the biggest marketplace in the Midwest and home to over 22,000 corporate headquarters, a thriving startup scene and over 1.2 million small-scale businesses, offers the infrastructure that companies require to thrive in today's competitive business. From the world-class infrastructure that connects companies to suppliers and customers to a talented workforce in various industries as well as a modern manufacturing base - Illinois excels in a variety of areas such as clean and advanced energy, agribusiness, IT life sciences and transportation logistics.

Illinois has experienced a tremendous increase in international investment growth in recent years. Countries such as Britain, Japan, Germany and China were among the countries that most invested in Illinois in 2023. By that time, the amount was over USD $13.2 billion across agriculture, manufacturing and other sectors in Illinois alone.

Since 2014, nearly $1 billion worth of incentives have been given out under Illinois Reimagining Energy and Vehicles program to firms that supply electric vehicles and renewable energy production. Last month, DCEO also granted PsiQuantum Manufacturing with an incentive package worth more than $200 million for their new state-of-the-art manufacturing facility located in East Alton.

Governor 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 groundbreaking research hub at the forefront of leading research. This 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 and develop revolutionary therapies.

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

The Illinois Small Business Development Center located 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 assists local entrepreneurs with assistance in creating or expanding their businesses through programs such as free business planning workshops individual counseling sessions with expert Business Advisors and access funding opportunities.

State officials in Indiana are encouraging employers to offer higher salaries and benefits as a way to keep child care workers working across the nation as they face a shortage of jobs. This comes following the closing of a children's care center in Bronzeville that struggled to keep its staff.

Illinois Department of Labor also created an online tool to inform small-scale businesses about employment laws. Employers can search using keywords or browse through categories on this site, and connect to state agencies and sources.

Illinois Purdue postgame Press conference Business Development Authority (IBDA) is working to make people aware of Illinois tax incentives to expanding businesses by hosting the IBDA's webinar this week about this topic. The event was recorded and will become archived and posted on their site.