New Commercial Developments In Illinois Making Waves In 2024

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Illinois Business Developments



Illinois as the biggest marketplace 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 today's competitive business. From world-class infrastructure which connects companies to customers and suppliers to highly talented workforce in various industries and an advanced manufacturing base, Illinois leads in many areas such as advanced and clean agricultural technology, energy, and life sciences, transportation logistics.




Illinois has seen a huge international investment growth in recent years. Countries like Britain, Japan, Germany and China were among the top countries investing in Illinois in 2023. By that time, the amount reached over USD $13.2 billion in manufacturing, agribusiness and other industries in Illinois all by itself.




In 2014, over $1 billion worth of incentives have been given out under Illinois' Reimagining Energy and Vehicles program to firms that supply electric vehicles and renewable energy production. Last month, DCEO also awarded PsiQuantum Manufacturing with an incentive package totaling over $200 million to build a modern manufacturing facility 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 officially launch CZ Biohub Chicago - a revolutionary research hub located in the forefront of scientific studies. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as to develop innovative therapeutics.




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




The Illinois Small Business Development Center located at Southern Illinois University is funded by a co-operative agreement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern illinois latest news (https://pressez.substack.com/about) University. The Center provides entrepreneurs from the local area with help in starting or expanding their businesses through programs such as free workshops on business planning, one-on-one counseling sessions with experienced Business Advisors and access funding opportunities.




State leaders in Indiana are informing employers to provide higher wages and benefits as a means of keeping childcare workers working across the nation as they face a shortage of jobs. This comes following the closure of a child care center located in Bronzeville which was struggling to retain employees.




Illinois Department of Labor also created an online tool to inform small-scale businesses about employment laws. Employers can search for keywords or browse through categories on this website, as well as connect with state agencies and information sources.




Illinois Business Development Authority (IBDA) is working to increase awareness about Illinois tax incentives for expanding businesses by hosting the IBDA's webinar this week on the subject. It was recorded and will be archived on their website.

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