Exciting Commercial Opportunities In The Prairie State To Watch In 2024

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Illinois Business Developments



Illinois is the biggest markets in the Midwest and home to over 2000 corporate headquarters, a bustling business scene, and more than 1.2 million small enterprises, has all of the assets global firms require to flourish in today's competitive business. From world-class infrastructure which connects companies with suppliers and customers to a skilled workers in various fields and a thriving manufacturing base - Illinois is a leader in many areas such as clean and advanced agriculture, energy, IT life sciences, transportation logistics.




Illinois has witnessed a significant increase in foreign investment over the last few years. Countries such as Britain, Japan, Germany and China were among the countries that most invested in Illinois and by 2023, this total was more than USD $13.2 billion across agriculture, manufacturing and other areas in Illinois alone.




Since 2014, more than $1 billion in incentives has been given out under Illinois' Reimagining Energy and Vehicles program to firms that supply electric vehicles and renewable energy production. In the last month, DCEO also rewarded PsiQuantum Manufacturing with an incentive package of more than $200 million for their brand new high-tech manufacturing facility located in East Alton.




Governor JB Pritzker accompanied by representatives of the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to launch CZ Biohub Chicago - a cutting-edge research hub that is at the forefront of cutting-edge research. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the human development of tissues as well and develop revolutionary therapies.




Governor JB Pritzker and Flender Corporation recently announced they are expanding their existing production facility located 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 through a collaborative agreement between 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 press release vs pitch (https://www.diigo.com/profile/pressez) starting or expanding their businesses through programs such as free workshops on business planning individual counseling sessions with expert Business Advisors, and access to financing options.




State leaders in Indiana are encouraging employers to offer higher compensation and benefits as method of keeping child care employees in the United States and facing a lack of job. The move comes after the closing of a child care facility located in Bronzeville that struggled to keep its employees.




Illinois Department of Labor also launched an online tool designed to help small businesses understand labor laws. Employers are able to search using keywords or browse through categories on this website, as well as connect with state agencies and sources.




Illinois Business Development Authority (IBDA) is taking action to promote awareness of Illinois tax incentives that can be used for business expansion by hosting an online webinar on the subject. The webinar was recorded and will be archived on their website.

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