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Illinois Business Developments

Illinois is the most populous markets in the Midwest and the home of more than 2000 corporate headquarters, an active entrepreneurial scene, and more than 1.2 million small-scale businesses, offers all the resources global firms require to flourish in today's competitive business. From world-class infrastructure which connects businesses with their suppliers and customers, to a skilled workers in various fields and a thriving manufacturing base - Illinois is a leader in many areas such as advanced and clean agricultural technology, energy, and life sciences transportation logistics.

Illinois has experienced a tremendous increase in foreign investment growth over recent years. Countries such as Britain, Japan, Germany and China were among those most investing in Illinois; by 2023 this total was more than USD $13.2 billion in the agribusiness, manufacturing and manufacturing areas in illinois e-news release (form.jotform.com) all by itself.

Since 2014, over $1 billion in incentives have been distributed under Illinois' Reimagining Energy and Vehicles program to businesses that offer electric vehicles and clean energy production. The program was announced last month. DCEO also granted PsiQuantum Manufacturing with an incentive package worth more than $200 million to build a modern facility 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 inaugurate CZ Biohub Chicago - a groundbreaking research hub 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 human tissue development as well in developing revolutionary therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their current production facility located in Elgin that will result in 50 full-time employment while keeping the existing 140 full-time employees.

The Illinois Small Business Development Center located at Southern Illinois University is funded partly through a cooperative arrangement between 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 and one-on-one sessions with expert Business Advisors, and access to funding opportunities.

State leaders in Indiana are pushing employers to offer better wages and benefits as a way of keeping child care workers working across the nation as they face a shortage of employment. This follows the closure of a care center in Bronzeville where it was difficult to retain employees.

Illinois Department of Labor also introduced an online tool to provide small-sized businesses with information on lawful employment practices. Employers are able to search using keywords or browse categories on this website; and connect to state agencies and other resources.

Illinois Business Development Authority (IBDA) is taking action to promote awareness of Illinois' tax incentives for business expansion. They hosted an interactive webinar on the subject. It was recorded and will be available on their website.