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Illinois Business Developments

Illinois as the biggest market in the Midwest and home to over two thousand corporate headquarters, a thriving startup scene, and over 1.2 million small businesses, provides all the resources that global companies require to thrive in the current business climate. The world's best infrastructure connects companies with suppliers and customers to a skilled and knowledgeable workforces in various industries as well as a modern manufacturing base, Illinois leads in many areas including advanced and sustainable technology, agriculture, energy, life sciences and 750s press release (www.speedrun.com) transportation logistics.

Illinois has witnessed a significant increase in foreign investment over the last few years. Countries such as Britain, Japan, Germany and China were among the most invested in Illinois; by 2023 this total was more than USD $13.2 billion across agricultural, manufacturing, and other areas in Illinois alone.

Since 2014, over $1 billion in incentives has been distributed under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and clean energy production. This month, DCEO also awarded PsiQuantum Manufacturing with an incentive package totaling over $200 million for their brand new modern 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 for the launch of CZ Biohub Chicago - a revolutionary research hub located at the forefront of leading scientific research. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the human development of tissues as well to develop innovative therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their current plant for manufacturing in Elgin which will create 50 full-time jobs while keeping the existing 140 full-time employees.

The Illinois Small Business Development Center at Southern Illinois University is funded partly through a cooperative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center provides entrepreneurs in the area with support for the creation or expansion of their businesses with services that include free workshops on business planning One-on-one counseling sessions with experienced Business Advisors and access financing options.

State leaders in Indiana are insisting on employers offering higher compensation and benefits as method of keeping child care workers in the country which is a problem due to a shortage of work. This follows the closing of a children's care facility in Bronzeville where it was difficult to retain employees.

Illinois Department of Labor also created an online tool to provide small-sized businesses with information on labor laws. Employers can search for keywords or browse through categories on this website, as well as connect to appropriate state agencies and sources.

Illinois Business Development Authority (IBDA) is working to raise awareness of Illinois tax incentives for expanding businesses by hosting an interactive webinar on this subject, which was recorded and will be archived on their website.