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Illinois Business Developments
Illinois as the biggest market in the Midwest and home to more than 2000 corporate headquarters, a bustling business scene, and more than 1.2 million small businesses, is home to all of the assets global businesses require to succeed in the current business climate. The world's best infrastructure connects businesses to suppliers and customers, to a skilled workers in various fields and a thriving manufacturing base, Illinois excels in a variety of areas such as clean and advanced agricultural technology, energy, and life sciences, transportation logistics.
Illinois has witnessed a significant foreign investment growth over recent years. Countries such as Britain, Japan, Germany and China were among the most investing in Illinois; by 2023 this sum was greater than USD $13.2 billion in manufacturing, agribusiness and other areas in Illinois all by itself.
In 2014, over $1 billion in incentives were awarded under Illinois Reimagining Energy and Vehicles program to companies providing electric vehicles and renewable energy production. Last month, DCEO also provided PsiQuantum Manufacturing with an incentive package of more than $200 million for their new high-tech facility 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 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 in developing revolutionary therapeutics.
Governor JB Pritzker and Flender Corporation recently announced they have expanded their factory in Elgin, creating 50 full-time employees while maintaining the 140 full-time positions they currently have.
The Illinois Small Business Development Center located at Southern Associated press illinois football rankings (www.Speedrun.com) University is funded by a co-operative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center assists local entrepreneurs with assistance in starting or expanding their businesses by offering services like free workshops on business planning individual counseling sessions with experienced Business Advisors and access funding opportunities.
State officials in Indiana are insisting on employers offering higher wages and benefits as a way to keep child care workers employed nationwide as they face a shortage of job. This comes following the closure of a child care facility in Bronzeville which struggled to retain employees.
Illinois Department of Labor also introduced an online tool to educate small businesses on labor laws. Employers are able to search using keywords or browse through categories on this site, and connect to state agencies and other resources.
Illinois Business Development Authority (IBDA) is taking action to make people aware of Illinois' tax incentives for expanding businesses by hosting an online webinar on this subject, which was recorded and will later appear on the website.
