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Blog entry by Maxine Orozco

Emerging Entrepreneurial Trends in the Prairie State On the Rise Right Now

Emerging Entrepreneurial Trends in the Prairie State On the Rise Right Now

Illinois Business Developments

Illinois is the biggest marketplace in the Midwest and home to more than 2,000 corporate headquarters, a thriving entrepreneurial scene, and more than 1.2 million small businesses, is home to all the resources global businesses need to be successful in today's competitive business. The world's best infrastructure connects companies to suppliers and customers to a skilled workers in various fields as well as an advanced manufacturing base, Illinois leads in many areas like advanced and clean agricultural technology, energy, and life sciences, transportation logistics.

Illinois has experienced a tremendous increase in foreign investment growth over recent years. Countries like Britain, Japan, Germany and China were among those most investing in Illinois; by 2023 this sum was greater than USD $13.2 billion across the agribusiness, manufacturing and manufacturing industries in Illinois all by itself.

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 renewable energy production. In the last month, DCEO also awarded PsiQuantum Manufacturing with an incentive package that was worth over $200 million for their brand new advanced manufacturing facility 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 in the forefront of research. The initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well to develop innovative therapeutics.

Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current plant for manufacturing in Elgin which will create 50 full-time Press Release Writer jobs while keeping the existing 140 full-time employees.

The Illinois Small Business Development Center located at Southern Illinois University is funded through a collaborative agreement among U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The center provides local entrepreneurs with assistance in beginning or expanding their business through programs such as free workshops on business planning individual counseling sessions with expert Business Advisors as well as access to funding opportunities.

State leaders in Indiana are insisting on employers offering higher pay and benefits as a way to keep child care workers in the country as they face a shortage of work. The move comes after the closing of a children's care facility in Bronzeville where it was difficult to retain staff.

Illinois Department of Labor also has launched an online tool to help small businesses understand lawful employment practices. Employers can search using keywords or browse through categories on this site, and connect to appropriate state agencies and sources.

Illinois Business Development Authority (IBDA) is taking steps to increase awareness about Illinois' tax incentives for expanding businesses by hosting the IBDA's webinar this week on this subject, which was recorded and will later appear on the website.

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