Emerging Business Developments In Illinois On The Rise In 2024
Illinois Business Developments
Illinois is the most populous markets in the Midwest and the home of more than 2000 corporate headquarters, a bustling startup scene and over 1.2 million small-scale businesses, offers all the resources that global firms require to flourish in the current business climate. The world's best infrastructure connects companies with suppliers and customers to a skilled and knowledgeable workforces in various industries and a thriving manufacturing base - Illinois leads in many areas including advanced and sustainable agriculture, energy, IT life sciences, transportation logistics.
Illinois has witnessed a significant international investment growth in recent years. Countries such as Britain, Japan, Germany and China were among those most invested in Illinois in 2023. By that time, the total was more than USD $13.2 billion in manufacturing, agribusiness and other sectors in Illinois all by itself.
Since 2014, nearly $1 billion in incentives has been granted under Illinois Reimagining Energy and Vehicles program to firms that supply electric vehicles and renewable energy production. In the last month, DCEO also awarded PsiQuantum Manufacturing with an incentive package totaling over 200 million dollars for their new state-of-the-art manufacturing facility located 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 in the forefront of scientific 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 have announced they are expanding their current factory in Elgin that will result in 50 full-time positions while keeping the 140 full-time positions they currently have.
The Illinois Small Business Development Center located 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 entrepreneurs from the local area with help in the creation or expansion of their businesses through programs such as free workshops on business planning, one-on-one counseling sessions with expert Business Advisors and access financing options.
State leaders in Indiana are encouraging employers to offer higher compensation and benefits as way of keeping child care workers employed nationwide as they face a shortage of employment. The decision comes after the closing of a child care facility located in Bronzeville that struggled to keep its staff.
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illinois news crime (independent.Academia.edu) Department of Labor also has launched an online tool to help small businesses understand employment laws. Employers can search by keyword or browse categories on this site; as well as connect to state agencies and other resources.
Illinois Business Development Authority (IBDA) is working to increase awareness about Illinois tax incentives that can be used for business expansion. They hosted the IBDA's webinar this week about this topic. The event was recorded and will later become archived and posted on their site.
