Emerging Entrepreneurial Opportunities In Illinois Making Waves In 2024

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Illinois Business Developments



Illinois is the biggest marketplace in the Midwest and home to more than 2,000 corporate headquarters, an active startup scene and over 1.2 million small businesses, is home to all the resources that global businesses require to succeed in the current business climate. From world-class infrastructure that connects companies to suppliers and customers to a skilled workers in various fields and a thriving manufacturing base - Illinois leads in many areas including advanced and sustainable agricultural technology, energy, and life sciences transportation logistics.




Illinois has seen a huge increase in foreign investment over the last few years. Countries like Britain, Japan, Germany and China were among those most investing in Illinois; by 2023 this total was more than USD $13.2 billion across manufacturing, agribusiness and other areas in Illinois alone.




Since 2014, nearly $1 billion in incentives have been given out under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as green energy production. In the last month, DCEO also rewarded PsiQuantum Manufacturing with an incentive package of more than $200 million to build a high-tech manufacturing facility in East Alton.




Governor JB Pritzker was joined by representatives from Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to launch CZ Biohub Chicago - a cutting-edge research hub that is at the forefront of cutting-edge scientific research. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well and develop revolutionary therapies.

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Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current factory in Elgin which will create 50 full-time jobs 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 provides entrepreneurs from the local area with help in starting or expanding their businesses through services such as free business planning workshops and one-on-one sessions with expert Business Advisors and access to funding opportunities.




State officials in Indiana are pushing employers to offer better wages and benefits as a way of keeping child care workers working across the nation as they face a shortage of work. The decision comes after the closure of a child care center located in Bronzeville which was struggling to retain employees.




Illinois Department of Labor also introduced an online tool to help small businesses understand employment laws. Employers are able to search using keywords or browse through categories on this site, and connect to appropriate state agencies and other resources.




illinois supreme court press releases (pressez.blog.fc2.com) Business Development Authority (IBDA) has taken steps to promote awareness of Illinois tax incentives for business expansion. They hosted the IBDA's webinar this week on this subject, which was recorded and will later become archived and posted on their site.