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Illinois Business Developments

Illinois is the biggest market of the Midwest and home to over two thousand corporate headquarters, a vibrant startup scene, and over 1.2 million small businesses, is home to all the resources global firms require to flourish in today's competitive business. From the world-class infrastructure that connects businesses to suppliers and customers to a skilled workforce across various industries and an advanced manufacturing base - Illinois is a leader in many areas like advanced and clean agricultural technology, energy, and life sciences transportation logistics.

Illinois has seen a huge international investment growth in recent years. Countries such as Britain, Japan, Germany and China were among those most investing in Illinois In 2023, this total was more than USD $13.2 billion across the agribusiness, manufacturing and manufacturing areas in Illinois all by itself.

Since 2014, nearly $1 billion in incentives were distributed under Illinois' Reimagining Energy and Vehicles program to firms that supply electric vehicles and renewable energy production. The program was announced last month. DCEO also provided PsiQuantum Manufacturing with an incentive package that was worth over $200 million for their brand new state-of-the-art 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 7 news chicago live (pressez.substack.Com) to officially launch CZ Biohub Chicago - a revolutionary research hub located 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 as develop groundbreaking therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their factory in Elgin which will create 50 full-time positions while keeping the existing 140 full-time employees.

The Illinois Small Business Development Center at Southern Illinois University is funded by a co-operative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and 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 to financing options.

State leaders in Indiana are insisting on employers offering higher pay and benefits as a means of keeping childcare workers employed nationwide and facing a lack of job. This follows the closure of a child care facility in Bronzeville that struggled to keep its employees.

Illinois Department of Labor also has launched an online tool to inform small-scale businesses about lawful employment practices. Employers can search using keywords or browse through categories on this site, and connect to state agencies and sources.

Illinois Business Development Authority (IBDA) has taken steps to make people aware of Illinois' tax incentives for expanding businesses by hosting the IBDA's webinar this week on this subject, which was recorded and will later become archived and posted on their site.