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MarchNew Entrepreneurial Opportunities in the Prairie State to Watch This Year
Illinois Business Developments
Illinois, as the largest market in the Midwest and the home of more than 2000 corporate headquarters, a vibrant business scene, and more than 1.2 million small businesses, is home to the infrastructure that firms require to flourish in the current business climate. From the world-class infrastructure that connects companies to suppliers and customers, to a skilled workforce across various industries as well as a modern manufacturing base, Illinois has a leading position in many fields like advanced and clean technology, agriculture, energy, 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 those most invested in Illinois In 2023, this total was more than USD $13.2 billion across agriculture, manufacturing and other industries in Illinois alone.

Since 2014, over $1 billion in incentives has been granted under Illinois' Reimagining Energy and Vehicles program to firms that supply electric vehicles and green energy production. Last month, DCEO also provided PsiQuantum Manufacturing with an incentive package that was worth over 200 million dollars for their new modern manufacturing facility located in East Alton.
Governor JB Pritzker was joined by representatives from The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a cutting-edge research hub at the forefront of leading scientific research. This project 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 have announced they are expanding their current plant for manufacturing in Elgin, creating 50 full-time jobs while keeping 140 existing full-time positions intact.
The Illinois Small Business Development Center 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 provides entrepreneurs from the local area with help in the creation or expansion of their businesses with services that include free business planning workshops and one-on-one sessions with expert Business Advisors and access funding opportunities.
State officials in Indiana are insisting on employers offering higher salaries and benefits as a method of keeping child care workers employed nationwide which is a problem due to a shortage of job. This comes following the closure of a child care center located in Bronzeville that struggled to keep its employees.
Illinois Department of Labor also created an online tool to help small businesses understand labor laws. Employers can search for Quest diagnostics press release (independent.academia.edu) keywords or browse categories on this site; as well as connect to state agencies and sources.
Illinois Business Development Authority (IBDA) is working to increase awareness about Illinois tax incentives that can be used for business expansion by hosting an interactive webinar about this topic. The event was recorded and will become archived and posted on their site.
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