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Illinois Business Developments

Illinois is the most populous market in the Midwest and the home of more than two thousand corporate headquarters, an active business scene, and more than 1.2 million small-scale businesses, offers all the resources global firms require to flourish in today's competitive business. The world's best infrastructure connects businesses to suppliers and customers to skilled workers in various fields as well as an advanced manufacturing base, Illinois excels in a variety of areas such as advanced and clean technology, agriculture, energy, life sciences logistics for transportation.

Illinois has experienced a tremendous increase in increase in foreign investment over the last few years. Countries such as 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 across manufacturing, agribusiness and other industries in Illinois all by itself.

Since 2014, more than $1 billion in incentives have been given out under Illinois Reimagining Energy and Vehicles program to firms that supply electric vehicles and renewable energy production. Last month, DCEO also provided PsiQuantum Manufacturing with an incentive package totaling over $200 million for their brand new advanced manufacturing facility located in East Alton.

Governor JB Pritzker joined representatives from The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a groundbreaking research hub that is at the forefront in research. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as and develop revolutionary therapies.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their existing plant for manufacturing in Elgin, creating 50 full-time positions while keeping 140 existing full-time positions intact.

The Illinois Small Business Development Center at Southern Illinois University is funded by a co-operative agreement among U.S. Small Business Administration, press release 45th gst council (pressez.substack.com) Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center provides entrepreneurs from the local area with help in creating or expanding their businesses through services such as free business planning workshops One-on-one counseling sessions with expert Business Advisors, and access to funding opportunities.

State officials in Indiana are pushing employers to offer better salaries and benefits as a way to keep child care workers employed nationwide as they face a shortage of work. The decision comes after the closing of a child care facility in Bronzeville which struggled to retain employees.

Illinois Department of Labor also launched an online tool designed to educate small businesses on employment laws. Employers can search using keywords or browse categories on this site; as well as connect to appropriate state agencies and sources.

Illinois Business Development Authority (IBDA) is taking action to make people aware of Illinois' tax incentives for business expansion. The IBDA hosted the IBDA's webinar this week on the subject. The webinar was recorded and will later be archived on their website.