New Entrepreneurial Opportunities In The Prairie State On The Rise This Year
Illinois Business Developments
Illinois is the most populous market of the Midwest and the home of more than 2000 corporate headquarters, a vibrant startup scene and over 1.2 million small-scale businesses, offers all of the assets global businesses require to succeed in the modern business. From the world-class infrastructure that connects companies with suppliers and customers, to a skilled workforce across various industries as well as a modern manufacturing base, Illinois has a leading position in many fields such as advanced and clean agricultural technology, energy, and life sciences transportation logistics.
Illinois has seen a huge international investment growth in recent years. Countries like Britain, Japan, Germany and China were among those most invested in Illinois; by 2023 this amount reached over USD $13.2 billion across agriculture, manufacturing and other areas in Illinois all by itself.
In 2014, over $1 billion in incentives have been awarded under Illinois' Reimagining Energy and Vehicles program to businesses that offer electric vehicles and gilead press release evoke 01, https://www.diigo.Com/profile/pressez, green energy production. In the last month, DCEO also provided PsiQuantum Manufacturing with an incentive package totaling over 200 million dollars for their new high-tech manufacturing facility located in East Alton.
Governor JB Pritzker joined representatives from his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a groundbreaking research hub that is at the forefront of cutting-edge research. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as to develop innovative therapeutics.
Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current plant for manufacturing in Elgin that will result in 50 full-time positions 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 arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center provides entrepreneurs in the area with support for the creation or expansion of their businesses by offering services like free business planning workshops, one-on-one counseling sessions with expert Business Advisors as well as access to financing opportunities.
State leaders in Indiana are informing employers to provide higher pay and benefits as a means of keeping childcare workers working across the nation which is a problem due to a shortage of work. This follows the closure of a care facility in Bronzeville where it was difficult to retain employees.
Illinois Department of Labor also introduced an online tool to help small businesses understand labor laws. Employers can search for keywords or browse categories on the site, and connect to state agencies and other resources.
Illinois Business Development Authority (IBDA) is working to increase awareness about Illinois tax incentives that can be used for expanding businesses by hosting the IBDA's webinar this week on this subject, which was recorded and will later be available on their website.