Illinois Business Developments

Illinois is the biggest market of the Midwest and the home of more than two thousand corporate headquarters, a bustling startup scene, and over 1.2 million small businesses, is home to the infrastructure that businesses need to be successful in business today. From world-class infrastructure which connects companies to suppliers and customers, to a skilled workers in various fields as well as an advanced manufacturing base - Illinois News Team (Pressez.Substack.Com) leads in many areas such as advanced and clean agriculture, energy, IT life sciences logistics for transportation.

Illinois has seen a huge expansion of foreign investments in recent years. Countries such as Britain, Japan, Germany and China were among the top countries investing in Illinois; by 2023 this amount reached over USD $13.2 billion across agriculture, manufacturing and other industries in Illinois alone.

Since 2014, more than $1 billion in incentives have been distributed under Illinois Reimagining Energy and Vehicles program to companies providing electric vehicles and clean energy production. The program was announced last month. DCEO also rewarded PsiQuantum Manufacturing with an incentive package worth more than 200 million dollars for their new modern 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 officially launch CZ Biohub Chicago - a innovative research hub that is that is at the forefront of cutting-edge scientific studies. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well and develop revolutionary therapies.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their 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 located at Southern Illinois University is funded in part 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 from the local area with help in starting or expanding their businesses with services that include free business planning workshops One-on-one counseling sessions with experienced Business Advisors as well as access to financing opportunities.

State leaders in Indiana are insisting on employers offering higher pay and benefits as a way of keeping child care employees in the United States as they face a shortage of work. The decision comes after the closing of a child care facility in Bronzeville which struggled to retain employees.

Illinois Department of Labor also launched an online tool designed to educate small businesses on lawful employment practices. Employers can search for keywords or browse categories on the site; as well as connect with state agencies and resources.

Illinois Business Development Authority (IBDA) is taking steps to increase awareness about Illinois' tax incentives for business expansion. The IBDA hosted a webinar this week on the subject. It was recorded. It will then become archived and posted on their site.