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Illinois Business Developments

Illinois, as the largest markets in the Midwest and home to over 2,000 corporate headquarters, an active startup scene, and over 1.2 million small-scale businesses, offers all the resources that global firms require to flourish in business today. From world-class infrastructure which connects businesses to suppliers and customers to a skilled and knowledgeable workforces in various industries and a thriving manufacturing base - Illinois excels in a variety of areas like advanced and clean agricultural technology, energy, and life sciences and transportation logistics.

Illinois has witnessed a significant foreign investment growth over recent years. Countries like Britain, Japan, Germany and China were among the countries that most investing in Illinois In 2023, this total was more than USD $13.2 billion across agricultural, manufacturing, and other sectors in Illinois all by itself.

Since 2014, over $1 billion in incentives were awarded under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as renewable energy production. Last month, DCEO also awarded PsiQuantum Manufacturing with an incentive package that was worth over $200 million for their new modern facility in East Alton.

Governor JB Pritzker joined representatives from Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a revolutionary research hub located at the forefront of leading 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 to develop innovative therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their current manufacturing facility in Elgin, creating 50 full-time employees while maintaining the existing 140 full-time employees.

The Illinois Small Business Development Center located at Southern Wayne County Press Fairfield Illinois (Https://Pressez.Blog.Fc2.Com/) University is funded in part through a cooperative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The center provides entrepreneurs in the area with support for creating or expanding their businesses with services that include free workshops on business planning, one-on-one counseling sessions with expert Business Advisors, and access to financing opportunities.

State officials in Indiana are insisting on employers offering higher compensation and benefits as way of keeping child care workers employed nationwide as they face a shortage of work. The decision comes after the closure of a care facility in Bronzeville which was struggling to retain employees.

Illinois Department of Labor also created an online tool to inform small-scale businesses about lawful employment practices. Employers are able to search using keywords or browse categories on the website, as well as connect with state agencies and sources.

Illinois Business Development Authority (IBDA) is taking steps to make people aware of Illinois tax incentives to business expansion by hosting an interactive webinar about this topic. The event was recorded. The webinar will later become archived and posted on their site.