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Illinois Business Developments

Illinois as the biggest market of the Midwest and the home of more than 2,000 corporate headquarters, a vibrant startup scene, and over 1.2 million small businesses, provides all of the assets global businesses require to succeed in the modern business. From the world-class infrastructure that connects companies to suppliers and customers, to a talented workforce in various industries as well as a modern manufacturing base - Illinois has a leading position in many fields including advanced and sustainable technology, agriculture, energy, life sciences logistics for transportation.

Illinois has experienced a tremendous increase in international investment growth in recent years. Countries like Britain, Japan, Germany and China were among the most investing in Illinois in 2023. By that time, the sum was greater than USD $13.2 billion in agricultural, manufacturing, and other industries in Illinois all by itself.

In 2014, over $1 billion in incentives were distributed under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as clean energy production. This month, DCEO also rewarded PsiQuantum Manufacturing with an incentive package of more than $200 million to build a state-of-the-art facility in East Alton.

Governor JB Pritzker was present along with representatives from his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to launch CZ Biohub Chicago - a innovative research hub that is that is at the forefront of cutting-edge scientific studies. This 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 kpmg press release (hashnode.com) Flender Corporation recently announced they are expanding their current factory in Elgin and will create 50 full-time employees while maintaining the 140 full-time positions they currently have.

The Illinois Small Business Development Center located at Southern Illinois University is funded through a collaborative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center offers local entrepreneurs with assistance in beginning or expanding their business by offering services like free workshops on business planning, one-on-one counseling sessions with expert Business Advisors and access funding opportunities.

State leaders in Indiana are insisting on employers offering higher wages and benefits as a means of keeping childcare workers in the country as they face a shortage of employment. This follows the closure of a child care center in Bronzeville that struggled to keep its employees.

Illinois Department of Labor also has launched an online tool to educate small businesses on the laws governing employment. Employers can search by keyword or browse through categories on this website, as well as connect to the appropriate state agencies and resources.

Illinois Business Development Authority (IBDA) is taking steps to make people aware of Illinois tax incentives to business expansion. They hosted an online webinar on the subject. The webinar was recorded. It will then become archived and posted on their site.