Emerging Commercial Trends in Illinois Making Waves This Year
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Illinois Business Developments
Illinois is the biggest markets in the Midwest and home to over 22,000 corporate headquarters, a thriving business scene, and more than 1.2 million small businesses, provides the infrastructure that businesses need to be successful in the modern business. The world's best infrastructure connects businesses to customers and suppliers to highly skilled workforce across various industries as well as an advanced manufacturing base, Illinois leads in many areas including advanced and sustainable agriculture, energy, IT life sciences transportation logistics.
Illinois has seen tremendous international investment growth in recent years. Countries such as Britain, Japan, Germany and China were among the top countries invested in Illinois; by 2023 this amount was over USD $13.2 billion across agricultural, manufacturing, and other sectors in Illinois all by itself.
In 2014, over $1 billion in incentives have been distributed under Illinois' Reimagining Energy and Vehicles program to firms that supply electric vehicles and clean energy production. Last month, DCEO also granted PsiQuantum Manufacturing with an incentive package totaling over $200 million for their new advanced manufacturing facility located in East Alton.
Governor JB Pritzker accompanied by representatives of The Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago for the launch of CZ Biohub Chicago - a revolutionary research hub located 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 human development of tissues as well as develop groundbreaking therapeutics.
Governor JB Pritzker and Flender Corporation recently announced they are expanding their current production facility located in Elgin which will create 50 full-time positions while keeping the 140 full-time jobs they have currently.
The Illinois Small Business Development Center located at Southern Illinois University is funded partly through a cooperative arrangement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois university of illinois press city (https://Pressez.blog.fc2.Com/). The center provides local entrepreneurs with assistance in starting or expanding their businesses by offering services like free workshops on business planning and one-on-one sessions with expert Business Advisors and access financing opportunities.
State officials in Indiana are encouraging employers to offer higher wages and benefits as a way to keep child care workers in the country and facing a lack of work. 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 created an online tool to help small businesses understand the laws governing employment. Employers can search for keywords or browse categories on this site, and connect with state agencies and information sources.
Illinois Business Development Authority (IBDA) is working to raise awareness of Illinois' tax incentives for business expansion. They hosted an interactive webinar on the subject. It was recorded. The webinar will later appear on the website.
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