Emerging Entrepreneurial Trends In The Prairie State On The Rise Right Now
Illinois Business Developments
Illinois is the most populous marketplace in the Midwest and home to over 2000 corporate headquarters, a bustling startup scene, and over 1.2 million small businesses, provides all the resources global businesses require to succeed in business today. The world's best infrastructure connects businesses with their customers and suppliers to highly skilled and knowledgeable workforces in various industries as well as a modern manufacturing base, Illinois excels in a variety of areas such as advanced and clean technology, agriculture, energy, life sciences logistics for transportation.
Illinois has witnessed a significant increase in foreign investment over the last few years. Countries like Britain, Japan, Germany and China were among those most investing in Illinois; by 2023 this sum was greater than USD $13.2 billion across agricultural, manufacturing, and other areas in Illinois all by itself.
Since 2014, more than $1 billion in incentives were given out under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and clean energy production. In the last month, DCEO also awarded PsiQuantum Manufacturing with an incentive package worth more than $200 million to build a modern manufacturing facility in East Alton.
Governor JB Pritzker was joined by 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 groundbreaking research hub that is at the forefront in scientific studies. 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 in developing revolutionary therapeutics.
Governor JB Pritzker and Flender Corporation recently announced they are expanding their current plant for manufacturing in Elgin that will result in 50 full-time employees while maintaining the 140 full-time positions they currently have.
The Illinois Small Business Development Center at Southern Illinois University is funded in part through a cooperative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and press release sample - https://pressez.substack.com/p/the-importance-of-press-releases, Economic Opportunity and Southern Illinois University. The Center assists entrepreneurs from the local area with help in starting or expanding their businesses through programs such as free business planning workshops One-on-one counseling sessions with experienced Business Advisors and access financing options.
State officials in Indiana are encouraging employers to offer higher pay and benefits as a means of keeping childcare workers employed nationwide as they face a shortage of employment. The move comes after the closing of a child care center in Bronzeville which was struggling to retain employees.
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Illinois Department of Labor also created an online tool to inform small-scale businesses about labor laws. Employers can search by keyword or browse through categories on this site, and connect to the appropriate state agencies and other resources.
Illinois Business Development Authority (IBDA) has taken steps to raise awareness of Illinois' tax incentives for business expansion. The IBDA hosted the IBDA's webinar this week on this subject, which was recorded. It will then become archived and posted on their site.