Exciting Commercial Developments In Illinois On The Rise This Year
Illinois Business Developments
Illinois as the biggest markets in the Midwest and home to over 2000 corporate headquarters, an active startup scene, and over 1.2 million small-scale businesses, offers all the resources global companies require to thrive in today's competitive business. The world's best infrastructure connects companies with suppliers and customers to talented workforce in various industries and an advanced manufacturing base - Illinois excels in a variety of areas like advanced and clean technology, agriculture, energy, life sciences logistics for transportation.
Illinois has experienced a tremendous increase in expansion of foreign investments in recent years. Countries such as Britain, Japan, Germany and China were among the most invested in Illinois postgame press conference today youtube (pressez.substack.com) and by 2023, this amount was over USD $13.2 billion in agricultural, manufacturing, and other sectors in Illinois alone.
Since 2014, more than $1 billion in incentives were awarded under Illinois' Reimagining Energy and Vehicles program to firms that supply electric vehicles and clean energy production. In the last month, DCEO also provided PsiQuantum Manufacturing with an incentive package worth more than 200 million dollars for their new advanced facility in East Alton.
Governor JB Pritzker joined representatives from Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a revolutionary research hub located at the forefront of leading scientific studies. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well in developing revolutionary therapeutics.
Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current manufacturing facility in Elgin, creating 50 full-time employment while keeping 140 existing full-time positions intact.
The Illinois Small Business Development Center 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 in the area with support for starting or expanding their businesses with services that include free workshops on business planning and one-on-one sessions with experienced Business Advisors and access to financing opportunities.
State leaders in Indiana are encouraging employers to offer higher compensation and benefits as way to keep child care workers employed nationwide, who face a shortage of job. This follows the closing of a children's care facility in Bronzeville where it was difficult to retain employees.
Illinois Department of Labor also created an online tool to help small businesses understand lawful employment practices. Employers can search for keywords or browse categories on the website; and connect to state agencies and information sources.
Illinois Business Development Authority (IBDA) has taken steps to promote awareness of Illinois tax incentives to expanding businesses by hosting a webinar this week on the subject. It was recorded. The webinar will later become archived and posted on their site.