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MarchExciting Entrepreneurial Opportunities in Illinois to Watch Right Now
Illinois Business Developments
Illinois is the most populous market of the Midwest and the home of more than 2,000 corporate headquarters, a bustling startup scene, and over 1.2 million small-scale businesses, offers all the resources that global businesses require to succeed in business today. From world-class infrastructure which connects businesses to customers and suppliers to highly talented workforce in various industries and a thriving manufacturing base - Illinois has a leading position in many fields such as advanced and clean agriculture, energy, IT life sciences transportation logistics.
Illinois has seen tremendous international investment growth in recent years. Countries like Britain, Japan, Germany and China were among the top countries invested in Illinois and by 2023, this amount reached over USD $13.2 billion in agriculture, manufacturing and other sectors in Illinois alone.
Since 2014, more than $1 billion in incentives have been distributed under Illinois Reimagining Energy and Vehicles program to companies that provide electric vehicles as well as green energy production. The program was announced last month. DCEO also rewarded PsiQuantum Manufacturing with an incentive package totaling over $200 million to build a state-of-the-art manufacturing facility located in East Alton.
Governor JB Pritzker was joined by representatives from his organization, Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a innovative research hub that is at the forefront of leading research. The project will unite 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.
Governor JB Pritzker and Flender Corporation recently announced they are expanding their current manufacturing facility in Elgin, creating 50 full-time jobs while keeping 140 existing full-time positions intact.
The Illinois Small Business Development Center located at Southern Illinois University is funded partly through a cooperative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center assists entrepreneurs from the local area with help in starting or expanding their businesses by offering services like free business planning workshops, one-on-one counseling sessions with experienced Business Advisors as well as access to funding opportunities.
State leaders in Indiana are encouraging employers to offer higher compensation and benefits as means of keeping childcare workers employed nationwide, who face a shortage of job. This comes following the closure of a care center located in Bronzeville which struggled to retain staff.
fran mccaffery press conference illinois [form.jotform.Com] Department of Labor also has launched an online tool to help small businesses understand labor laws. Employers can search for keywords or browse categories on this website, as well as connect to state agencies and sources.
Illinois Business Development Authority (IBDA) is taking action to raise awareness of Illinois' tax incentives for business expansion by hosting a webinar this week on the subject. It was recorded. It will then be archived on their website.
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