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Illinois Business Developments

Illinois as the biggest marketplace in the Midwest and the home of more than 2000 corporate headquarters, a vibrant entrepreneurial scene, and more than 1.2 million small businesses, provides all the resources that global firms require to flourish in the modern business. From world-class infrastructure that connects companies with customers and suppliers to highly skilled workers in various fields as well as a modern manufacturing base, Illinois has a leading position in many fields such as clean and advanced energy, agribusiness, IT life sciences logistics for transportation.

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 and by 2023, this total was more than USD $13.2 billion across the agribusiness, manufacturing and manufacturing areas in Illinois all by itself.

Since 2014, more than $1 billion worth of incentives have been distributed under Illinois Reimagining Energy and Vehicles program to companies providing electric vehicles and renewable energy production. This 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 accompanied by representatives of The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in chicago press release (pressez.blog.fc2.com) to officially launch CZ Biohub Chicago - a groundbreaking research hub that is at the forefront of cutting-edge research. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as as develop groundbreaking therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their current manufacturing facility in Elgin, creating 50 full-time jobs 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 among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center provides local entrepreneurs with assistance in creating or expanding their businesses through programs such as free business planning workshops One-on-one counseling sessions with expert Business Advisors and access to financing options.

State leaders in Indiana are insisting on employers offering higher pay and benefits as a means of keeping childcare workers in the country which is a problem due to a shortage of work. The move comes after the closure of a care facility located in Bronzeville which struggled to retain employees.

Illinois Department of Labor also created an online tool to educate small businesses on lawful employment practices. Employers can search by keyword or browse through categories on this website; and connect to state agencies and other resources.

Illinois Business Development Authority (IBDA) is taking steps to make people aware of Illinois tax incentives to business expansion. The IBDA hosted the IBDA's webinar this week on the subject. The webinar was recorded. It will then appear on the website.