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Illinois Business Developments

Illinois is the biggest markets in the Midwest and home to more than 22,000 corporate headquarters, a thriving startup scene, and over 1.2 million small enterprises, has all the resources that global companies require to thrive in the current business climate. From the world-class infrastructure that connects businesses with their suppliers and customers to a skilled workers in various fields and a thriving manufacturing base, Illinois leads in many areas such as clean and advanced agriculture, energy, IT life sciences logistics for transportation.

Illinois has seen a huge increase in foreign investment over the last few years. Countries such as Britain, Japan, Germany and China were among those most investing in Illinois; by 2023 this amount was over USD $13.2 billion across manufacturing, agribusiness and other sectors in Illinois all by itself.

Since 2014, more than $1 billion worth of incentives have been granted under Illinois Reimagining Energy and Vehicles program to firms that supply electric vehicles and clean energy production. Last month, DCEO also rewarded PsiQuantum Manufacturing with an incentive package that was worth over $200 million to build a modern manufacturing facility in East Alton.

Governor JB Pritzker joined representatives from 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 that is at the forefront in scientific research. The initiative will bring together university of Illinois press Jobs, form.Jotform.Com, of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well to develop innovative 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 located at Southern Illinois University is funded partly through a cooperative agreement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center provides local entrepreneurs with assistance for beginning or expanding their business with services that include free workshops on business planning individual counseling sessions with experienced 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 working across the nation and facing a lack of job. The decision comes after the closure of a care center in Bronzeville where it was difficult to retain employees.

Illinois Department of Labor also introduced an online tool to provide small-sized businesses with information on lawful employment practices. Employers can search by keyword or browse through categories on this site, and connect with state agencies and sources.

Illinois Business Development Authority (IBDA) is taking action to increase awareness about Illinois tax incentives for business expansion. The IBDA hosted the IBDA's webinar this week on the subject. It was recorded and will later become archived and posted on their site.