Emerging Entrepreneurial Opportunities in the Prairie State to Watch R…
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Illinois Business Developments
Illinois is the most populous markets in the Midwest and home to over 2000 corporate headquarters, a thriving business scene, and more than 1.2 million small-scale businesses, offers the infrastructure that firms require to flourish in the modern business. The world's best infrastructure connects companies with customers and suppliers to highly talented workforce in various industries as well as a modern manufacturing base, Illinois excels in a variety of areas such as clean and advanced energy, agribusiness, IT life sciences, transportation logistics.
Illinois has experienced a tremendous increase in expansion of foreign investments in recent years. Countries such as Britain, Japan, Germany and China were among the countries that most investing in Illinois; by 2023 this amount was over USD $13.2 billion across manufacturing, agribusiness and other areas in Illinois alone.
In 2014, over $1 billion in incentives were distributed under Illinois Reimagining Energy and Vehicles program to businesses that offer electric vehicles and green energy production. This month, DCEO also provided PsiQuantum Manufacturing with an incentive package worth more than $200 million for their brand new advanced facility in East Alton.
Governor JB Pritzker was present along with representatives from The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a groundbreaking 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 human tissue development as well to develop innovative therapeutics.
Governor JB Pritzker and Flender Corporation recently announced they have expanded their production facility located in Elgin and will create 50 full-time positions while keeping the 140 full-time jobs they have currently.
The Illinois Small Business Development Center at Southern Illinois University is funded in part through a cooperative agreement among U.S. Small Business Administration, Illinois juneau police department press release (hashnode.com) 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 workshops on business planning One-on-one counseling sessions with experienced Business Advisors and access to financing options.
State officials in Indiana are encouraging employers to offer higher pay and benefits as a way to keep child care workers working across the nation and facing a lack of jobs. This follows the closure of a care facility in Bronzeville where it was difficult to retain staff.
Illinois Department of Labor also introduced an online tool to inform small-scale businesses about lawful employment practices. Employers can search for keywords or browse through categories on this website; and connect to state agencies and sources.
Illinois Business Development Authority (IBDA) has taken steps to make people aware of Illinois tax incentives for business expansion. They hosted a webinar this week on this subject, which was recorded and will later be available on their website.