Illinois Business Developments

Illinois is the most populous market in the Midwest and home to more than 22,000 corporate headquarters, an active startup scene and over 1.2 million small-scale businesses, offers all the resources that global businesses need to be successful in the modern business. From world-class infrastructure that connects companies with suppliers and customers to a skilled and knowledgeable workforces in various industries as well as an advanced manufacturing base - Illinois excels in a variety of areas such as advanced and clean energy, agribusiness, IT life sciences and transportation logistics.

Illinois has seen a huge foreign investment growth over 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 total was more than USD $13.2 billion in agricultural, manufacturing, and other sectors in Illinois alone.

Since 2014, nearly $1 billion in incentives were awarded under Illinois Reimagining Energy and Vehicles program to firms that supply electric vehicles and renewable energy production. The program was announced last month. DCEO also granted PsiQuantum Manufacturing with an incentive package totaling over $200 million for their new high-tech manufacturing facility located in East Alton.

Governor JB Pritzker joined representatives from The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a innovative research hub that is at the forefront of leading research. This project 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 are expanding their existing manufacturing facility in Elgin that will result in 50 full-time employees while maintaining the existing 140 full-time employees.

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 entrepreneurs in the area with support for the creation or expansion of their businesses by offering services like free business planning workshops One-on-one counseling sessions with expert Business Advisors as well as access to financing options.

State leaders in Indiana are encouraging employers to offer higher salaries and benefits as cite a press release in chicago style, start.me, method of keeping child care employees in the United States and facing a lack of job. This comes following the closing of a child care facility in Bronzeville that struggled to keep its staff.

Illinois Department of Labor also has launched an online tool 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 other resources.

Illinois Business Development Authority (IBDA) is working to make people aware of Illinois' tax incentives for business expansion by hosting an interactive webinar about this topic. The event was recorded and will later be archived on their website.