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Illinois Business Developments

Illinois is the most populous market in the Midwest and the home of more than 2000 corporate headquarters, a thriving startup scene and over 1.2 million small businesses, provides the infrastructure that businesses need to be successful in the modern business. From world-class infrastructure which connects companies with suppliers and customers to talented workforce in various industries and a thriving manufacturing base - Illinois has a leading position in many fields including advanced and sustainable technology, agriculture, energy, life sciences, transportation logistics.

Illinois has seen tremendous increase in foreign investment over the last few years. Countries such as Britain, Japan, Germany and China were among the most invested in Illinois and by 2023, this amount reached over USD $13.2 billion in manufacturing, agribusiness and other areas in Illinois all by itself.

Since 2014, nearly $1 billion in incentives has been awarded under Illinois' Reimagining Energy and Vehicles program to firms that supply electric vehicles and clean energy production. Last month, DCEO also provided PsiQuantum Manufacturing with an incentive package worth more than $200 million to build a modern 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 officially launch CZ Biohub Chicago - a revolutionary research hub located in the forefront of scientific research. The project will unite University of Chicago, Urbana-Champaign State university of illinois press labor - Https://independent.Academia.edu, (UIUC) and Northwestern University researchers to study the development of human tissues as well in developing revolutionary therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current factory in Elgin and will create 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 in the area with support for the creation or expansion of their businesses through programs such as free business planning workshops and one-on-one sessions with experienced Business Advisors, and 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, who face a shortage of employment. This comes following the closure of a care center in Bronzeville that struggled to keep its employees.

Illinois Department of Labor also has launched an online tool to provide small-sized businesses with information on employment laws. Employers can search using keywords or browse through categories on this website; and connect to appropriate state agencies and sources.

Illinois Business Development Authority (IBDA) has taken steps to raise awareness of Illinois tax incentives to business expansion by hosting a webinar this week on the subject. The webinar was recorded and will become archived and posted on their site.