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Blog entry by David Busey

Exciting Commercial Trends in Illinois to Watch This Year

Exciting Commercial Trends in Illinois to Watch This Year

Illinois Business Developments

Illinois is the most populous market in the Midwest and home to over 22,000 corporate headquarters, a bustling startup scene and over 1.2 million small-scale businesses, offers the infrastructure that firms require to flourish in today's competitive business. From the world-class infrastructure that connects companies with suppliers and press release youtube; https://pressez.blog.fc2.com/, customers to skilled and knowledgeable workforces in various industries and a thriving manufacturing base - Illinois has a leading position in many fields including advanced and sustainable energy, agribusiness, IT life sciences and transportation logistics.

Illinois has witnessed a significant international investment growth in recent years. Countries like Britain, Japan, Germany and China were among the countries that most invested in Illinois in 2023. By that time, the total was more than USD $13.2 billion across agricultural, manufacturing, and other sectors in Illinois alone.

Since 2014, more than $1 billion worth of incentives have been distributed under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and clean energy production. In the last month, DCEO also provided PsiQuantum Manufacturing with an incentive package worth more than $200 million for their new advanced manufacturing facility in East Alton.

Governor JB Pritzker accompanied by representatives of The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a groundbreaking research hub in the forefront of research. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as in developing revolutionary therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they are expanding their current manufacturing facility in Elgin which will create 50 full-time jobs while keeping the 140 full-time positions they currently have.

The Illinois Small Business Development Center located at Southern Illinois University is funded in part through a cooperative agreement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center offers local entrepreneurs with assistance in creating or expanding their businesses by offering services like free workshops on business planning and one-on-one sessions with experienced Business Advisors, and access to funding opportunities.

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 as they face a shortage of job. This follows the closure of a child care facility located in Bronzeville that struggled to keep its employees.

Illinois Department of Labor also introduced 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 taking steps to raise awareness of Illinois tax incentives to business expansion by hosting the IBDA's webinar this week about this topic. The event was recorded. It will then appear on the website.

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