Illinois Business Developments

Illinois is the most populous market in the Midwest and home to more than 2,000 corporate headquarters, an active startup scene, and over 1.2 million small-scale businesses, offers all the resources that global companies require to thrive in the current business climate. From world-class infrastructure which connects businesses with their suppliers and customers to a skilled workforce across various industries and an advanced manufacturing base - Illinois excels in a variety of areas including advanced and sustainable agriculture, energy, IT life sciences, transportation logistics.

Illinois has witnessed a significant foreign investment growth over recent years. Countries like Britain, Japan, Germany and China were among those most invested in Illinois In 2023, this amount was over USD $13.2 billion across agricultural, manufacturing, and other industries in Illinois all by itself.

In 2014, over $1 billion in incentives were awarded under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and green energy production. Last month, DCEO also awarded PsiQuantum Manufacturing with an incentive package worth more than $200 million to build a advanced facility located 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 to officially launch CZ Biohub Chicago - a innovative research hub that is at the forefront of leading scientific studies. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well as develop groundbreaking therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current plant press release example for new product (https://pressez.blog.fc2.com) manufacturing in Elgin which will create 50 full-time positions while keeping the existing 140 full-time employees.

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 provides entrepreneurs from the local area with help in starting or expanding their businesses by offering services like free business planning workshops and one-on-one sessions with experienced Business Advisors and access to financing opportunities.

State officials in Indiana are pushing employers to offer better salaries and benefits as a way of keeping child care workers in the country and facing a lack of employment. This follows the closure of a child care facility in Bronzeville that struggled to keep its employees.

Illinois Department of Labor also created an online tool to help small businesses understand labor laws. Employers can search for keywords or browse categories on the website, as well as connect to the appropriate state agencies and other resources.

Illinois Business Development Authority (IBDA) is working to raise awareness of Illinois tax incentives for expanding businesses by hosting an interactive webinar about this topic. The event was recorded and will later be archived on their website.