Illinois Business Developments

Illinois, as the largest markets in the Midwest and home to more than 22,000 corporate headquarters, an active entrepreneurial scene, and more than 1.2 million small businesses, provides all the resources that global firms require to flourish in the current business climate. The world's best infrastructure connects businesses to suppliers and customers to a skilled workforce across various industries and a thriving manufacturing base - Illinois is a leader in many areas including advanced and sustainable agricultural technology, energy, and life sciences transportation logistics.

Illinois has witnessed a significant foreign investment growth over recent years. Countries like Britain, Japan, Germany and China were among the top countries invested in Illinois and press release new hire - start.me, 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, nearly $1 billion in incentives has been distributed under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as clean energy production. Last month, DCEO also provided PsiQuantum Manufacturing with an incentive package worth more than $200 million to build a state-of-the-art manufacturing facility located in East Alton.

Governor JB Pritzker was present along with representatives from The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to launch CZ Biohub Chicago - a innovative research hub that is at the forefront of leading scientific 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 existing production facility located in Elgin and will create 50 full-time employment while keeping the 140 full-time jobs they have currently.

The Illinois Small Business Development Center at Southern Illinois University is funded through a collaborative agreement 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 beginning or expanding their business with services that include free business planning workshops and one-on-one sessions with expert Business Advisors and access funding opportunities.

State officials in Indiana are informing employers to provide higher wages and benefits as a way to keep child care employees in the United States, who face a shortage of employment. The move comes after the closing of a children's care center located in Bronzeville where it was difficult to retain staff.

Illinois Department of Labor also created an online tool to inform small-scale businesses about labor laws. Employers can search using keywords or browse through categories on this site; as well as connect with state agencies and sources.

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