Exciting Commercial Opportunities In Illinois On The Rise In 2024
Illinois Business Developments
Illinois, as the largest market in the Midwest and the home of more than 2,000 corporate headquarters, an active startup scene, and over 1.2 million small businesses, provides the infrastructure that firms require to flourish in today's competitive business. From the world-class infrastructure that connects companies with suppliers and customers to a talented workforce in various industries and a thriving manufacturing base, Illinois has a leading position in many fields such as clean and advanced agriculture, energy, IT life sciences and transportation logistics.
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Illinois has seen a huge expansion of foreign investments in recent years. Countries such as Britain, Japan, Germany and China were among the top countries investing in Illinois in 2023. By that time, the amount was over USD $13.2 billion in agriculture, manufacturing and other areas 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 renewable energy production. The program was announced last month. DCEO also rewarded PsiQuantum Manufacturing with an incentive package of more than $200 million for their new modern facility located in East Alton.
Governor JB Pritzker accompanied by representatives of his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to officially launch CZ Biohub Chicago - a cutting-edge research hub that is at the forefront in scientific research. The initiative will bring together University of Chicago, press release email example Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well and develop revolutionary therapies.
Governor JB Pritzker and Flender Corporation recently announced they are expanding their existing factory in Elgin, creating 50 full-time employment while keeping 140 existing full-time positions intact.
The Illinois Small Business Development Center at Southern Illinois University is funded in part through a cooperative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center provides local entrepreneurs with assistance for the creation or expansion of their businesses by offering services like free workshops on business planning One-on-one counseling sessions with expert Business Advisors as well as access to financing options.
State officials in Indiana are insisting on employers offering higher salaries and benefits as a way to keep child care workers employed nationwide and facing a lack of job. This comes following the closing of a children's care center located in Bronzeville which was struggling to retain staff.
Illinois Department of Labor also created an online tool to educate small businesses on employment laws. Employers are able to search using keywords or browse categories on this site, and connect with state agencies and sources.
Illinois Business Development Authority (IBDA) is taking steps to make people aware of Illinois' tax incentives for expanding businesses by hosting the IBDA's webinar this week on the subject. It was recorded and will appear on the website.