Illinois Business Developments

Illinois as the biggest marketplace in the Midwest and home to over two thousand corporate headquarters, an active business scene, and more than 1.2 million small businesses, provides the infrastructure that businesses require to succeed in the modern business. From the world-class infrastructure that connects companies with suppliers and customers to skilled workers in various fields and a thriving manufacturing base - Illinois is a leader in many areas such as clean and advanced agricultural technology, energy, and life sciences, transportation logistics.

Illinois has seen tremendous international investment growth in recent years. Countries like Britain, Japan, Germany and China were among those most investing in Illinois; by 2023 this amount was over USD $13.2 billion in agriculture, manufacturing and other sectors in Illinois alone.

Since 2014, more than $1 billion in incentives were awarded under Illinois' Reimagining Energy and Vehicles program to companies providing electric vehicles and green energy production. This month, DCEO also provided PsiQuantum Manufacturing with an incentive package worth more than $200 million to build a advanced manufacturing facility located in East Alton.

Governor JB Pritzker was joined by representatives from Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to officially launch CZ Biohub Chicago - a revolutionary research hub located 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 to develop innovative therapeutics.

Governor press release yes bank (https://hashnode.com/) JB Pritzker and Flender Corporation recently announced they are expanding their existing plant for manufacturing 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 by a co-operative agreement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center assists entrepreneurs from the local area with help in the creation or expansion of their businesses with services that include free workshops on business planning and one-on-one sessions with expert Business Advisors and access to funding opportunities.

State officials in Indiana are insisting on employers offering higher salaries and benefits as a means of keeping childcare workers in the country and facing a lack of jobs. The move comes after the closure of a child care facility in Bronzeville that struggled to keep its staff.

Illinois Department of Labor also introduced an online tool to educate small businesses on labor laws. Employers can search by keyword or browse through categories on this site, and connect with state agencies and resources.

Illinois Business Development Authority (IBDA) is taking steps to make people aware of Illinois' tax incentives for business expansion by hosting the IBDA's webinar this week about this topic. The event was recorded and will later appear on the website.