Exciting Business Developments In Illinois On The Rise This Year
Illinois Business Developments
Illinois is the most populous market in the Midwest and home to over 22,000 corporate headquarters, a vibrant entrepreneurial scene, and more than 1.2 million small businesses, is home to all the resources that global businesses need to be successful in today's competitive business. The world's best infrastructure connects businesses with their suppliers and customers, to a skilled and knowledgeable workforces in various industries and a thriving manufacturing base, Illinois leads in many areas such as clean and advanced agricultural technology, energy, and life sciences and transportation logistics.
Illinois has witnessed a significant expansion of foreign investments in recent years. Countries such as Britain, Japan, Germany and China were among the countries that most investing in Illinois In 2023, this total was more than USD $13.2 billion across the agribusiness, manufacturing and manufacturing sectors in Illinois alone.
Since 2014, more than $1 billion worth of incentives have been awarded under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as renewable energy production. This month, DCEO also awarded PsiQuantum Manufacturing with an incentive package worth more than $200 million to build a advanced facility located in East Alton.
Governor JB Pritzker joined 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 that is at the forefront of cutting-edge research. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the human development of tissues as well and develop revolutionary therapies.
Governor JB Pritzker and Flender Corporation recently announced they are expanding their existing factory in Elgin that will result in 50 full-time employees while maintaining the 140 full-time jobs they have currently.
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 entrepreneurs in the area with support for beginning or expanding their business through programs such as free business planning workshops, united airlines press release (https://www.diigo.com) one-on-one counseling sessions with expert Business Advisors as well as access to funding opportunities.
State officials in Indiana are informing employers to provide higher compensation and benefits as means of keeping childcare workers employed nationwide, who face a shortage of work. This comes following the closing of a child care center located in Bronzeville that struggled to keep its employees.
Illinois Department of Labor also introduced an online tool to help small businesses understand lawful employment practices. Employers can search by keyword or browse through categories on this site; as well as connect to appropriate state agencies and resources.
Illinois Business Development Authority (IBDA) is taking action to increase awareness about Illinois tax incentives for business expansion. The IBDA hosted an online webinar on the subject. It was recorded and will be available on their website.