Exciting Entrepreneurial Trends in Illinois Making Waves in 2024
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Illinois Business Developments
Illinois is the biggest markets in the Midwest and home to over 2000 corporate headquarters, an active entrepreneurial scene, and more than 1.2 million small enterprises, has all the resources that global businesses require to succeed in today's competitive business. From world-class infrastructure which connects companies with suppliers and customers to skilled workers in various fields as well as a modern manufacturing base, Illinois excels in a variety of areas such as advanced and clean agriculture, energy, IT life sciences and transportation logistics.
Illinois has seen tremendous international investment growth in recent years. Countries such as Britain, Japan, Germany and China were among the countries that most invested in Illinois In 2023, this amount was over USD $13.2 billion across the agribusiness, manufacturing and manufacturing sectors in Illinois all by itself.
Since 2014, over $1 billion in incentives were awarded under Illinois' Reimagining Energy and Vehicles program to companies providing electric
Governor JB Pritzker joined representatives from the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a cutting-edge research hub that is at the forefront of cutting-edge scientific research. This project will bring together University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well in developing revolutionary therapeutics.
Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current plant for manufacturing in Elgin and will create 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 in part through a cooperative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The center provides local entrepreneurs with assistance in creating or expanding their businesses by offering services like free workshops on business planning and one-on-one 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 of keeping child care workers working across the nation as they face a shortage of work. The move comes after the closing of a children's care center in Bronzeville where it was difficult to retain staff.
Illinois Department of Labor also has launched an online tool to educate small businesses on the laws governing employment. Employers are able to search using keywords or viasat press release (Pressez.substack.Com) browse categories on the site, and connect to the appropriate state agencies and other resources.
Illinois Business Development Authority (IBDA) is taking action to raise awareness of Illinois tax incentives to expanding businesses by hosting a webinar this week on this subject, which was recorded and will later be archived on their website.