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Illinois Business Developments

illinois news gas (click here.) is the biggest marketplace in the Midwest and home to more than 2,000 corporate headquarters, a vibrant startup scene and over 1.2 million small-scale businesses, offers all the resources that global companies require to thrive in today's competitive business. From the world-class infrastructure that connects businesses to suppliers and customers to skilled workers in various fields as well as an advanced manufacturing base - Illinois leads in many areas including advanced and sustainable technology, agriculture, energy, life sciences, transportation logistics.

Illinois has seen a huge foreign investment growth over recent years. Countries like Britain, Japan, Germany and China were among the most investing in Illinois in 2023. By that time, the total was more than USD $13.2 billion across manufacturing, agribusiness and other areas in Illinois alone.

In 2014, over $1 billion in incentives were awarded under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and renewable energy production. Last month, DCEO also awarded PsiQuantum Manufacturing with an incentive package worth more than $200 million to build a advanced facility in East Alton.

Governor JB Pritzker joined representatives from his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to launch CZ Biohub Chicago - a cutting-edge research hub at the forefront of leading scientific research. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as in developing revolutionary therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their current plant for manufacturing in Elgin and 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 through a collaborative agreement among 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 starting or expanding their businesses through programs such as 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 informing employers to provide higher pay and benefits as a means of keeping childcare workers working across the nation, who face a shortage of employment. This follows the closure of a child care facility in Bronzeville that struggled to keep its employees.

Illinois Department of Labor also launched an online tool designed to help small businesses understand lawful employment practices. Employers can search using keywords or browse categories on this site; as well as connect to appropriate state agencies and information sources.

Illinois Business Development Authority (IBDA) is taking steps to make people aware of Illinois' tax incentives for business expansion. They hosted an interactive webinar on this subject, which was recorded and will become archived and posted on their site.