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Illinois Business Developments

Illinois, as the largest marketplace in the Midwest and home to over 2000 corporate headquarters, a bustling startup scene and over 1.2 million small enterprises, has the infrastructure that businesses require to succeed in business today. From world-class infrastructure that connects companies to suppliers and customers, to a talented workforce in various industries as well as an advanced manufacturing base, Illinois excels in a variety of areas such as advanced and clean energy, agribusiness, IT life sciences transportation logistics.

Illinois has experienced a tremendous increase in increase in foreign investment over the last few years. Countries such as Britain, Japan, Germany and China were among the most investing in Illinois In 2023, press release vs article; https://pressez.blog.fc2.com/, this amount reached over USD $13.2 billion in agriculture, manufacturing and other industries in Illinois all by itself.

Since 2014, over $1 billion in incentives have been awarded under Illinois' Reimagining Energy and Vehicles program to businesses that offer electric vehicles and renewable energy production. In the last month, DCEO also rewarded PsiQuantum Manufacturing with an incentive package of more than 200 million dollars for their new modern manufacturing facility located in East Alton.

Governor JB Pritzker was present along with representatives from The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a revolutionary research hub located in the forefront of scientific research. The 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 in developing revolutionary therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their existing production facility located in Elgin and will create 50 full-time employees while maintaining the existing 140 full-time employees.

The Illinois Small Business Development Center located at Southern Illinois University is funded partly through a cooperative arrangement 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 starting or expanding their businesses through programs such as free business planning workshops, one-on-one counseling sessions with experienced Business Advisors as well as access to financing options.

State leaders in Indiana are insisting on employers offering higher pay and benefits as a means of keeping childcare workers working across the nation, who face a shortage of employment. This comes following the closing of a child care center located in Bronzeville that struggled to keep its staff.

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

Illinois Business Development Authority (IBDA) has taken steps to promote awareness of Illinois tax incentives that can be used for expanding businesses by hosting the IBDA's webinar this week on the subject. The webinar was recorded and will later be available on their website.