Illinois Business Developments

Illinois is the biggest markets in the Midwest and home to over 2,000 corporate headquarters, a thriving startup scene, 02 press release; browse around this site, and over 1.2 million small enterprises, has the infrastructure that businesses require to succeed in the current business climate. From world-class infrastructure that connects companies with customers and suppliers to highly skilled and knowledgeable workforces in various industries as well as an advanced manufacturing base - Illinois has a leading position in many fields like advanced and clean technology, agriculture, energy, life sciences, transportation logistics.

Illinois has witnessed a significant expansion of foreign investments in recent years. Countries like Britain, Japan, Germany and China were among the most invested in Illinois in 2023. By that time, the total was more than USD $13.2 billion across the agribusiness, manufacturing and manufacturing industries in Illinois alone.

Since 2014, nearly $1 billion in incentives has been awarded under Illinois' Reimagining Energy and Vehicles program to companies providing electric vehicles and clean energy production. This month, DCEO also granted PsiQuantum Manufacturing with an incentive package of more than $200 million for their brand new advanced manufacturing facility in East Alton.

Governor JB Pritzker was joined by representatives from his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a groundbreaking 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 have expanded their production facility located in Elgin which will create 50 full-time employees while maintaining 140 existing full-time positions intact.

The Illinois Small Business Development Center 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 offers entrepreneurs in the area with support for beginning or expanding their business through services such as free workshops on business planning One-on-one counseling sessions with expert Business Advisors as well as access to funding opportunities.

State leaders in Indiana are encouraging employers to offer higher compensation and benefits as way of keeping child care workers working across the nation and facing a lack of job. This comes following the closure of a child care center in Bronzeville where it was difficult to retain staff.

Illinois Department of Labor also created an online tool to educate small businesses on the laws governing employment. Employers can search for keywords or browse through categories on this site; as well as connect with state agencies and resources.

Illinois Business Development Authority (IBDA) is taking action to increase awareness about Illinois' tax incentives for business expansion. They hosted a webinar this week on the subject. It was recorded. The webinar will later be available on their website.