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Blog entry by Zack Selfe

Exciting Commercial Opportunities in Illinois to Watch Right Now

Exciting Commercial Opportunities in Illinois to Watch Right Now

Illinois Business Developments

Illinois as the biggest marketplace in the Midwest and the home of more than 2000 corporate headquarters, a vibrant entrepreneurial scene, and more than 1.2 million small businesses, is home to all the resources that global businesses require to succeed in business today. From world-class infrastructure that connects businesses to customers and suppliers to highly talented workforce in various industries and an advanced manufacturing base, Illinois is a leader in many areas such as advanced and clean agricultural technology, energy, and life sciences transportation logistics.

Illinois has witnessed a significant foreign investment growth over recent years. Countries like Britain, Japan, Germany and China were among the most investing in Illinois in 2023. By that time, the sum was greater than USD $13.2 billion across manufacturing, agribusiness and other sectors in Illinois alone.

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Since 2014, more than $1 billion in incentives were given out under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and clean energy production. The program was announced last month. DCEO also granted PsiQuantum Manufacturing with an incentive package of more than $200 million for their brand new modern manufacturing facility in East Alton.

Governor JB Pritzker was present along with representatives from Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to officially launch CZ Biohub Chicago - a cutting-edge research hub in the forefront of scientific studies. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as as develop groundbreaking therapeutics.

Governor JB Pritzker and police press release (https://form.jotform.com/230100573203033) Flender Corporation recently announced they have expanded their plant for manufacturing in Elgin and will create 50 full-time jobs while keeping the existing 140 full-time employees.

The Illinois Small Business Development Center at Southern Illinois University is funded by a co-operative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center offers entrepreneurs from the local area with help in the creation or expansion of their businesses with services that include free workshops on business planning, one-on-one counseling sessions with experienced Business Advisors and access financing opportunities.

State leaders in Indiana are encouraging employers to offer higher wages and benefits as a means of keeping childcare workers working across the nation, who face a shortage of employment. The decision comes after the closing of a children's care center located in Bronzeville which was struggling to retain staff.

Illinois Department of Labor also launched an online tool designed to inform small-scale businesses about employment laws. Employers can search by keyword or browse categories on the website; and connect to appropriate state agencies and information sources.

Illinois Business Development Authority (IBDA) is taking action to make people aware of Illinois' tax incentives for business expansion. The IBDA hosted an interactive webinar about this topic. The event was recorded. The webinar will later appear on the website.

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