Illinois Business Developments

Illinois is the biggest market in the Midwest and the home of more than 22,000 corporate headquarters, a thriving entrepreneurial scene, and more than 1.2 million small businesses, provides all the resources global companies require to thrive in the modern business. The world's best infrastructure connects companies to suppliers and customers to talented workforce in various industries as well as an advanced manufacturing base - Illinois is a leader in many areas including advanced and sustainable energy, agribusiness, IT life sciences and transportation logistics.

Illinois has experienced a tremendous increase in international investment growth in recent years. Countries like Britain, Japan, Germany and China were among those most investing in Illinois and by 2023, this total was more than USD $13.2 billion in agricultural, manufacturing, and other industries in Illinois alone.

Since 2014, nearly $1 billion in incentives were awarded under Illinois Reimagining Energy and Vehicles program to companies providing electric vehicles and renewable energy production. The program was announced last month. DCEO also rewarded PsiQuantum Manufacturing with an incentive package totaling over $200 million to build a advanced manufacturing facility in East Alton.

Governor JB Pritzker was joined by representatives from the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago Park District Press Release to officially launch CZ Biohub Chicago - a cutting-edge research hub that is at the forefront in research. The 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 to develop innovative therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their current plant for manufacturing in Elgin which will create 50 full-time jobs while keeping the 140 full-time jobs they have currently.

The Illinois Small Business Development Center at Southern Illinois University is funded partly through a cooperative 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 the creation or expansion of their businesses by offering services like free workshops on business planning individual counseling sessions with expert Business Advisors as well as access to funding opportunities.

State leaders in Indiana are insisting on employers offering higher wages and benefits as a method of keeping child care employees in the United States and facing a lack of jobs. This follows the closure of a care facility located in Bronzeville where it was difficult to retain staff.

Illinois Department of Labor also launched an online tool designed to educate small businesses on lawful employment practices. Employers can search by keyword or browse categories on the site, and connect to the appropriate state agencies and sources.

Illinois Business Development Authority (IBDA) has taken steps to promote awareness of Illinois' tax incentives for expanding businesses by hosting an interactive webinar about this topic. The event was recorded and will later appear on the website.