Illinois Business Developments

Illinois as the biggest marketplace in the Midwest and the home of more than 2000 corporate headquarters, an active entrepreneurial scene, and more than 1.2 million small-scale businesses, offers the infrastructure that businesses require to succeed in business today. From world-class infrastructure that connects businesses to suppliers and customers to a skilled workers in various fields and a thriving manufacturing base, Illinois is a leader in many areas including advanced and sustainable agriculture, energy, IT life sciences, transportation logistics.

Illinois has witnessed a significant expansion of foreign investments in recent years. Countries like Britain, Japan, Germany and China were among the countries that most invested in Illinois; by 2023 this total was more than USD $13.2 billion across manufacturing, agribusiness and other areas in Illinois alone.

Since 2014, more than $1 billion in incentives has been awarded under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as clean energy production. The program was announced last month. DCEO also provided PsiQuantum Manufacturing with an incentive package of more than $200 million for their new modern facility in East Alton.

Governor JB Pritzker was joined by representatives from the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a revolutionary research hub located in the forefront of research. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well to develop innovative therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their factory in Elgin and will create 50 full-time jobs while keeping the 140 full-time positions they currently have.

The Illinois Small Business Development Center at Southern Illinois University is funded

State officials in Indiana are encouraging employers to offer higher compensation and benefits as means of keeping childcare workers employed nationwide and facing a lack of jobs. The move comes after the closing of a child care center in Bronzeville which was struggling to retain staff.

Illinois Department of Labor also created an online tool to help small businesses understand labor laws. Employers can search for keywords or browse categories on the site; as well as connect to the appropriate state agencies and other resources.

Illinois Business Development Authority (IBDA) is taking action to increase awareness about illinois department of natural resources press releases (https://mirror.xyz) tax incentives that can be used for expanding businesses by hosting an interactive webinar on the subject. The webinar was recorded and will later become archived and posted on their site.