New Business Trends In Illinois Making Waves This Year
Illinois Business Developments
Illinois is the biggest markets in the Midwest and home to more than 22,000 corporate headquarters, a thriving business scene, and more than 1.2 million small businesses, is home to the infrastructure that companies require to thrive in business today. From the world-class infrastructure that connects businesses with their suppliers and customers to a skilled workers in various fields as well as an advanced manufacturing base, Illinois excels in a variety of areas such as advanced and clean agriculture, energy, IT life sciences, transportation logistics.
Illinois has seen tremendous foreign investment growth over recent years. Countries such as Britain, Japan, Germany and China were among those most invested in Illinois; by 2023 this amount reached over USD $13.2 billion across agricultural, manufacturing, and other industries in Illinois alone.
Since 2014, over $1 billion in incentives were distributed under Illinois' Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as green energy production. The program was announced last month. DCEO also awarded PsiQuantum Manufacturing with an incentive package of more than $200 million for their brand new state-of-the-art facility located in East Alton.
Governor JB Pritzker accompanied by representatives of his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of 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 the development of human tissues as well 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 positions while keeping the 140 full-time positions they currently have.
The Illinois Small Business Development Center located at Southern Illinois University is funded by a co-operative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and press release 53 gst council meeting (pressez.blog.fc2.com) Economic Opportunity and Southern Illinois University. The center provides local entrepreneurs with assistance for starting or expanding their businesses with services that include free workshops on business planning, one-on-one counseling sessions with expert Business Advisors and access funding opportunities.
State leaders in Indiana are pushing employers to offer better pay and benefits as a way to keep child care employees in the United States as they face a shortage of employment. The move comes after the closure of a child care center in Bronzeville which was struggling to retain employees.
Illinois Department of Labor also has launched an online tool to provide small-sized businesses with information on employment laws. Employers can search using keywords or browse through categories on this site, and connect to appropriate state agencies and resources.
Illinois Business Development Authority (IBDA) is taking steps to make people aware of Illinois tax incentives for business expansion by hosting the IBDA's webinar this week on this subject, which was recorded and will become archived and posted on their site.