Emerging Commercial Opportunities In The Prairie State On The Rise This Year
Illinois Business Developments
Illinois is the biggest markets in the Midwest and home to more than two thousand corporate headquarters, an active entrepreneurial scene, and more than 1.2 million small-scale businesses, offers all the resources that global businesses require to succeed in business today. From world-class infrastructure which connects businesses to suppliers and customers to skilled workforce across various industries as well as an advanced manufacturing base - Illinois is a leader in many areas like advanced and clean energy, agribusiness, IT life sciences transportation logistics.
Illinois has seen a huge expansion of foreign investments in recent years. Countries like Britain, Japan, Germany and China were among the most invested in Illinois in 2023. By that time, the amount was over USD $13.2 billion in the agribusiness, manufacturing and manufacturing industries in Illinois all by itself.
Since 2014, nearly $1 billion in incentives have been awarded under Illinois' Reimagining Energy and Vehicles program to companies providing electric vehicles and green energy production. This month, DCEO also awarded PsiQuantum Manufacturing with an incentive package worth more than $200 million for their new advanced facility located in East Alton.
Governor JB Pritzker was present along with representatives from Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to officially launch CZ Biohub Chicago - a revolutionary research hub located that is at the forefront in research. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well and develop revolutionary therapies.
Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current manufacturing facility in Elgin which will create 50 full-time employees while maintaining 140 existing full-time positions intact.
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 offers entrepreneurs in the area with support for beginning or expanding their business by offering services like free workshops on business planning and one-on-one sessions with experienced Business Advisors as well as access to financing options.
State officials in Indiana are insisting on employers offering higher pay and benefits as a means of keeping childcare workers in the country and facing a lack of work. The move comes after the closing of a child care center located in Bronzeville which was struggling to retain staff.
illinois media contacts Department of Labor also has launched an online tool to educate small businesses on employment laws. Employers are able to search using keywords or browse categories on this website; and connect to the appropriate state agencies and sources.
Illinois Business Development Authority (IBDA) is taking steps to raise awareness of Illinois tax incentives for business expansion by hosting an interactive webinar on the subject. It was recorded. The webinar will later be available on their website.