New Entrepreneurial Developments In Illinois On The Rise This Year
Illinois Business Developments
Illinois as the biggest market in the Midwest and home to over 2,000 corporate headquarters, a bustling startup scene and over 1.2 million small businesses, is home to all of the assets global firms require to flourish in the modern business. From world-class infrastructure which connects companies to suppliers and customers to a skilled workers in various fields and an advanced manufacturing base, Illinois leads in many areas such as clean and advanced technology, agriculture, energy, life sciences and transportation logistics.
Illinois has experienced a tremendous increase in foreign investment growth over recent years. Countries like Britain, Japan, Germany and China were among the countries that most investing in Illinois and by 2023, this amount was over USD $13.2 billion across agricultural, manufacturing, and other areas in Illinois all by itself.
In 2014, over $1 billion in incentives have been given out under Illinois' Reimagining Energy and Vehicles program to companies providing electric vehicles and clean energy production. In the last month, DCEO also granted PsiQuantum Manufacturing with an incentive package worth more than $200 million for their brand new state-of-the-art facility in East Alton.
Governor JB Pritzker joined representatives from his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to launch CZ Biohub Chicago - a groundbreaking research hub in the forefront of scientific studies. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the human development of tissues as well as develop groundbreaking therapeutics.
Governor JB Pritzker and Flender Corporation recently announced they are expanding their existing manufacturing facility in Elgin, creating 50 full-time positions while keeping the 140 full-time jobs they have currently.
The Illinois Small Business Development Center located at Southern Illinois University is funded in part through a cooperative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center offers local entrepreneurs with assistance in the creation or moe press release - https://form.jotform.com, expansion of their businesses by offering services like free workshops on business planning individual counseling sessions with experienced Business Advisors as well as access to financing options.
State leaders in Indiana are pushing employers to offer better pay and benefits as a way of keeping child care workers working across the nation and facing a lack of job. This follows the closure of a child care center in Bronzeville where it was difficult to retain staff.
Illinois Department of Labor also has launched an online tool to help small businesses understand employment laws. Employers can search for keywords or browse through categories on this website; and connect to state agencies and resources.
Illinois Business Development Authority (IBDA) is taking steps to make people aware of Illinois' tax incentives for business expansion. The IBDA hosted an online webinar on the subject. It was recorded and will be available on their website.
