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Illinois Business Developments

Illinois is the most populous market in the Midwest and home to over 22,000 corporate headquarters, a vibrant startup scene, and over 1.2 million small enterprises, has the infrastructure that businesses require to succeed in today's competitive business. From the world-class infrastructure that connects businesses to customers and suppliers to highly skilled and knowledgeable workforces in various industries as well as a modern manufacturing base, Illinois is a leader in many areas such as clean and advanced agriculture, energy, IT life sciences transportation logistics.

Illinois has experienced a tremendous increase in foreign investment growth over recent years. Countries such as Britain, Japan, Germany and China were among those most investing in Illinois in 2023. By that time, the amount reached over USD $13.2 billion across the agribusiness, manufacturing and manufacturing industries in Illinois all by itself.

Since 2014, over $1 billion in incentives have been distributed under Illinois' Reimagining Energy and Vehicles program to businesses that offer electric vehicles and green energy production. This month, DCEO also awarded PsiQuantum Manufacturing with an incentive package of more than $200 million for their new advanced facility located in East Alton.

Governor JB Pritzker joined representatives from Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to launch CZ Biohub Chicago - a groundbreaking research hub at the forefront of leading scientific research. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well as develop groundbreaking therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current manufacturing facility in Elgin, creating 50 full-time positions while keeping the existing 140 full-time employees.

The Illinois Small Business Development Center located at Southern Illinois University is funded in part through a cooperative agreement between 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 the creation or Press Release Music (Https://Hashnode.Com/@Pressez) expansion of their businesses by offering services like free workshops on business planning, one-on-one counseling sessions with experienced Business Advisors and access to financing options.

State leaders in Indiana are informing employers to provide higher compensation and benefits as way to keep child care workers employed nationwide and facing a lack of job. The move comes after the closing of a children's care facility located in Bronzeville that struggled to keep its staff.

Illinois Department of Labor also launched an online tool designed to provide small-sized businesses with information on the laws governing employment. Employers are able to search using keywords 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 action to make people aware of Illinois tax incentives for business expansion. The IBDA hosted an online webinar on this subject, which was recorded. The webinar will later be available on their website.