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Blog entry by Josh Kula

New Entrepreneurial Developments in the Prairie State On the Rise This Year

New Entrepreneurial Developments in the Prairie State On the Rise This Year

Illinois Business Developments

Illinois as the biggest markets in the Midwest and home to over two thousand corporate headquarters, an active startup scene and over 1.2 million small businesses, is home to all of the assets global companies require to thrive in the current business climate. From world-class infrastructure which connects businesses with their suppliers and customers to skilled and knowledgeable workforces in various industries and a thriving manufacturing base - Illinois excels in a variety of areas including advanced and sustainable energy, agribusiness, IT life sciences and transportation logistics.

Illinois has witnessed a significant foreign investment growth over recent years. Countries such as Britain, Japan, Germany and China were among the most invested in Illinois and by 2023, this amount was over USD $13.2 billion in agriculture, manufacturing and other sectors in Illinois alone.

Since 2014, over $1 billion in incentives has been awarded under Illinois Reimagining Energy and Vehicles program to companies providing electric vehicles and renewable energy production. In the last month, DCEO also rewarded PsiQuantum Manufacturing with an incentive package totaling over $200 million for their new state-of-the-art 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 launch CZ Biohub Chicago - a revolutionary research hub located that is at the forefront in scientific research. This initiative will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study human tissue development as and develop revolutionary therapies.

Governor JB Pritzker and Flender Corporation recently announced they have expanded their factory in Elgin, creating 50 full-time employment while keeping 140 existing full-time positions intact.

The Illinois Small Business Development Center located at Southern Illinois University is funded by a co-operative agreement between U.S. Small Business Administration, illinois news live (independent.Academia.Edu) 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 experienced Business Advisors and access financing opportunities.

State leaders in Indiana are insisting on employers offering higher compensation and benefits as method of keeping child care workers in the country, who face a shortage of work. This follows the closing of a children's care center in Bronzeville that struggled to keep its employees.

Illinois Department of Labor also created an online tool to help small businesses understand employment laws. Employers can search for keywords or browse categories on the site; as well as connect with state agencies and sources.

Illinois Business Development Authority (IBDA) is taking action to make people aware of Illinois' tax incentives for business expansion by hosting a webinar this week on the subject. It was recorded and will appear on the website.

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