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Illinois Business Developments



Illinois as the biggest market of the Midwest and home to over two thousand corporate headquarters, a vibrant business scene, and more than 1.2 million small enterprises, has all of the assets global firms require to flourish in business today. From world-class infrastructure that connects companies to customers and suppliers to highly skilled workers in various fields as well as an advanced manufacturing base - Illinois has a leading position in many fields like advanced and clean energy, agribusiness, IT life sciences and transportation logistics.




Illinois has experienced a tremendous increase in expansion of foreign investments in recent years. Countries like Britain, Japan, Germany and China were among those most invested in Illinois and by 2023, this amount was over USD $13.2 billion across manufacturing, agribusiness and other areas in Illinois alone.




In 2014, over $1 billion worth of incentives have been granted under Illinois Reimagining Energy and Vehicles program to companies providing electric vehicles and clean energy production. The [[https://paprogram.austincollege.edu/about-the-program/program-competencies/|program]] was announced last month. DCEO also awarded PsiQuantum Manufacturing with an incentive package worth more than $200 million for their new modern facility in East Alton.




Governor JB Pritzker was present along with representatives from Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to launch CZ [[https://www.google.co.uk/search?hl=en&gl=us&tbm=nws&q=Biohub%20Chicago&gs_l=news|Biohub Chicago]] - a groundbreaking research hub that is at the forefront in scientific studies. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well to develop innovative therapeutics.




Governor JB Pritzker and Flender Corporation recently announced they are expanding their current factory in Elgin, creating 50 full-time employees while maintaining the 140 full-time positions they currently have.




The Illinois Small Business Development Center located 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 offers entrepreneurs from the local area with help in starting or expanding their businesses through services such as free workshops on business planning individual counseling sessions with experienced Business Advisors and access to financing opportunities.




State leaders in Indiana are encouraging employers to offer higher salaries and benefits as a method of keeping child care workers in the country as they face a shortage of jobs. The decision comes after the closing of a child 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 the laws governing employment. Employers are able to search using keywords or browse categories on the site, and connect with state agencies and other resources.




Illinois Business Development Authority (IBDA) is taking action to make people aware of Illinois' tax incentives for expanding businesses by hosting the IBDA's webinar this week about this topic. The event was recorded and will appear on the website.
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