Exciting Business Trends In Illinois On The Rise In 2024
Illinois Business Developments
Illinois, as the largest marketplace 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 businesses need to be successful in the modern business. From the world-class infrastructure that connects companies with suppliers and customers to talented workforce in various industries as well as an advanced manufacturing base - Illinois excels in a variety of areas like advanced and clean energy, agribusiness, IT life sciences, transportation logistics.
Illinois has seen tremendous expansion of foreign investments in recent years. Countries like Britain, Japan, Germany and China were among the countries that most investing in Illinois In 2023, this sum was greater than USD $13.2 billion in agricultural, manufacturing, and other sectors in Illinois alone.
In 2014, over $1 billion in incentives have been distributed under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and renewable energy production. In the last month, DCEO also awarded PsiQuantum Manufacturing with an incentive package of more than $200 million to build a high-tech facility in East Alton.
Governor JB Pritzker joined representatives from The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a innovative research hub that is that is at the forefront of cutting-edge scientific research. This project will bring together University of Chicago, roche Press release [www.speedrun.Com] 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 are expanding their current factory in Elgin, creating 50 full-time jobs while keeping the 140 full-time positions they currently have.
The Illinois Small Business Development Center located 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 local entrepreneurs with assistance for the creation or expansion of their businesses through services such as free workshops on business planning individual counseling sessions with expert Business Advisors, and access to financing options.
State officials in Indiana are insisting on employers offering higher pay and benefits as a way to keep child care employees in the United States, who face a shortage of work. This follows the closing of a children's care facility located in Bronzeville which struggled to retain employees.
Illinois Department of Labor also has launched an online tool to inform small-scale businesses about labor laws. Employers can search for keywords or browse categories on the site; as well as connect to state agencies and information sources.
Illinois Business Development Authority (IBDA) is taking steps to raise awareness of Illinois tax incentives for business expansion. The IBDA hosted an online webinar about this topic. The event was recorded. It will then be available on their website.