Exciting Commercial Trends In Illinois On The Rise Right Now
Illinois Business Developments
Illinois is the biggest marketplace in the Midwest and home to more than 2,000 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 the current business climate. From world-class infrastructure that connects companies to suppliers and customers, to a skilled workers in various fields and an advanced manufacturing base - Illinois has a leading position in many fields such as clean and advanced energy, agribusiness, IT life sciences, transportation logistics.
Illinois has witnessed a significant expansion of foreign investments in recent years. Countries like Britain, Japan, Germany and China were among the top countries investing in Illinois in 2023. By that time, the sum was greater than USD $13.2 billion in agriculture, manufacturing and other areas in Illinois all by itself.
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Since 2014, more than $1 billion worth of incentives have been awarded under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as renewable energy production. This month, DCEO also provided PsiQuantum Manufacturing with an incentive package worth more than $200 million for their brand new advanced facility located in East Alton.
Governor JB Pritzker accompanied by representatives of 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 scientific research. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the human development of tissues as well and develop revolutionary therapies.
Governor JB Pritzker and Flender Corporation recently announced they are expanding their existing factory in Elgin which will create 50 full-time employment while keeping 140 existing full-time positions intact.
The Illinois Small Business Development Center at Southern Illinois University is funded by a co-operative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center assists entrepreneurs from the local area with help in starting or expanding their businesses with services that include free business planning workshops, one-on-one counseling sessions with expert Business Advisors as well as access to financing opportunities.
State officials in Indiana are encouraging employers to offer higher compensation and benefits as way of keeping child care employees in the United States, who face a shortage of jobs. This comes following the closure of a care facility located in Bronzeville which struggled to retain employees.
Illinois Department of Labor also has launched an online tool to provide small-sized businesses with information on the laws governing employment. Employers are able to search using keywords or browse categories on this site; as well as connect to state agencies and resources.
Illinois Business Development Authority (IBDA) has taken steps to promote awareness of illinois News motorcycle accident (diigo.Com) tax incentives that can be used for business expansion. The IBDA hosted an online webinar about this topic. The event was recorded and will be available on their website.