New Entrepreneurial Trends In Illinois Making Waves In 2024

Illinois Business Developments



Illinois, as the largest markets in the Midwest and home to over 2,000 corporate headquarters, a vibrant startup scene and over 1.2 million small enterprises, has the infrastructure that businesses require to succeed in today's competitive business. The world's best infrastructure connects companies to suppliers and customers to skilled and knowledgeable workforces in various industries and an advanced manufacturing base, Illinois leads in many areas such as clean and advanced agricultural technology, energy, and life sciences, transportation logistics.

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Illinois has seen a huge foreign investment growth over recent years. Countries like Britain, Japan, Germany and China were among the most investing in Illinois; by 2023 this sum was greater than USD $13.2 billion across manufacturing, agribusiness and other areas in Illinois alone.



In 2014, over $1 billion in incentives were granted under Illinois Reimagining Energy and Vehicles program to firms that supply electric vehicles and green energy production. The program was announced last month. DCEO also awarded PsiQuantum Manufacturing with an incentive package worth more than $200 million for their new high-tech 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 to inaugurate CZ Biohub cite Press release chicago (https://independent.academia.edu/) - a innovative research hub that is at the forefront of leading scientific studies. 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 as develop groundbreaking therapeutics.



Governor JB Pritzker and Flender Corporation recently announced they have announced they are expanding their current manufacturing facility in Elgin, creating 50 full-time positions while keeping 140 existing full-time positions intact.




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 offers entrepreneurs from the local area with help in creating or expanding their businesses by offering services like free business planning workshops One-on-one counseling sessions with experienced Business Advisors and access financing opportunities.




State officials in Indiana are insisting on employers offering higher salaries and benefits as a way of keeping child care workers employed nationwide, who face a shortage of jobs. This comes following the closure of a care facility located in Bronzeville where it was difficult to retain staff.




Illinois Department of Labor also launched an online tool designed to inform small-scale businesses about lawful employment practices. Employers can search using keywords or browse through categories on this site; as well as connect to the appropriate state agencies and information sources.




Illinois Business Development Authority (IBDA) is taking action to increase awareness about Illinois tax incentives that can be used for expanding businesses by hosting the IBDA's webinar this week about this topic. The event was recorded. It will then appear on the website.