Illinois Business Developments
Illinois as the biggest marketplace in the Midwest and the home of more than 2000 corporate headquarters, a thriving startup scene, and over 1.2 million small enterprises, has all of the assets global businesses need to be successful in the modern business. From world-class infrastructure that connects companies with suppliers and customers to skilled and knowledgeable workforces in various industries as well as a modern manufacturing base, Illinois leads in many areas including advanced and sustainable agricultural technology, energy, and life sciences, transportation logistics.
Illinois has witnessed a significant international investment growth in recent years. Countries like Britain, Japan, Germany and China were among those most invested in Illinois and by 2023, this amount reached over USD $13.2 billion in manufacturing, agribusiness and other industries in Illinois all by itself.
In 2014, over $1 billion worth of incentives have been awarded under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as green energy production. This month, DCEO also granted PsiQuantum Manufacturing with an incentive package of more than $200 million to build a state-of-the-art manufacturing facility in East Alton.
Governor JB Pritzker accompanied by representatives of Chan Zuckerberg Initiative, 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 in the forefront of research. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the human development of tissues as well as develop groundbreaking therapeutics.
Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current production facility located in Elgin, creating 50 full-time employment while keeping the existing 140 full-time employees.
The Illinois Small Business Development Center 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 from the local area with help in starting or expanding their businesses through services such as free business planning workshops and one-on-one sessions with experienced Business Advisors and access financing opportunities.
State leaders in Indiana are insisting on employers offering higher compensation and benefits as means of keeping childcare workers employed nationwide as they face a shortage of job. This follows the closing of a child care facility in Bronzeville where it was difficult to retain employees.
Illinois Department of Labor also launched an online tool designed to inform small-scale businesses about employment laws. Employers can search using keywords or Press Conference 296 - Https://hashnode.com/, browse categories on this site; as well as connect with state agencies and other resources.
Illinois Business Development Authority (IBDA) is taking action to make people aware of Illinois' tax incentives for business expansion. They hosted an online webinar about this topic. The event was recorded and will appear on the website.