Exciting Business Developments In The Prairie State Making Waves In 2024
Illinois Business Developments
Illinois as the biggest markets in the Midwest and home to over 2000 corporate headquarters, a thriving business scene, and more than 1.2 million small businesses, provides all of the assets global businesses require to succeed in business today. From the world-class infrastructure that connects companies with customers and suppliers to highly skilled and knowledgeable workforces in various industries as well as a modern manufacturing base, Illinois excels in a variety of areas such as clean and advanced agricultural technology, energy, and life sciences and transportation logistics.
Illinois has witnessed a significant international investment growth in recent years. Countries such as Britain, Japan, Germany and China were among the countries that most invested in Illinois in 2023. By that time, the total was more than USD $13.2 billion in agriculture, manufacturing and other sectors in Illinois all by itself.
In 2014, over $1 billion in incentives were awarded under Illinois' Reimagining Energy and Vehicles program to companies providing electric vehicles and green energy production. Last month, DCEO also provided PsiQuantum Manufacturing with an incentive package that was worth over $200 million for their brand new advanced manufacturing facility in East Alton.
Governor JB Pritzker was present along with representatives from the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a innovative research hub that is that is at the forefront in scientific studies. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as well as develop groundbreaking therapeutics.
Governor JB Pritzker and Flender Corporation recently announced they are expanding their current production facility located in Elgin which will create 50 full-time jobs while keeping the 140 full-time jobs they have currently.
The Illinois Small Business Development Center at Southern Illinois University is funded through a collaborative agreement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center assists entrepreneurs from the local area with help in starting or expanding their businesses through services such as free workshops on business planning One-on-one counseling sessions with expert Business Advisors as well as access to financing options.
State leaders in Indiana are encouraging employers to offer higher wages and benefits as a way of keeping child care workers working across the nation which is a problem due to a shortage of job. This follows the closing of a children's care center located in Bronzeville which was struggling How To Cite Press Release Chicago; Start.Me, retain staff.
Illinois Department of Labor also introduced an online tool to help small businesses understand labor laws. Employers can search using keywords or browse through categories on this website; and connect to state agencies and resources.
Illinois Business Development Authority (IBDA) has taken steps to increase awareness about Illinois tax incentives that can be used for business expansion. The IBDA hosted a webinar this week on the subject. It was recorded. The webinar will later be available on their website.