Emerging Entrepreneurial Opportunities In Illinois To Watch In 2024
Illinois Business Developments
Illinois as the biggest marketplace in the Midwest and home to more than two thousand corporate headquarters, a thriving startup scene, and over 1.2 million small enterprises, has all the resources that global businesses need to be successful in the current business climate. The world's best infrastructure connects companies with suppliers and customers, to a skilled and knowledgeable workforces in various industries and a thriving manufacturing base - Illinois excels in a variety of areas such as clean and advanced agricultural technology, energy, and life sciences, transportation logistics.
Illinois has seen tremendous increase in foreign investment over the last few years. Countries like Britain, Japan, Germany and China were among the top countries invested in Illinois in 2023. By that time, the amount was over USD $13.2 billion in the agribusiness, manufacturing and manufacturing industries in Illinois alone.
siol.net
In 2014, over $1 billion in incentives have been granted 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 to build a high-tech manufacturing facility in East Alton.
Governor JB Pritzker accompanied by representatives of Chan Zuckerberg Initiative, the Chan Zuckerberg Initiative, Chan Zuckerberg Biohub Network and local officials today in Chicago to inaugurate CZ Biohub Chicago - a innovative research hub that is that is at the forefront in scientific studies. The project will unite University of Chicago, Urbana-Champaign State University (UIUC) and Northwestern University researchers to study the development of human tissues as well and develop revolutionary therapies.
Governor JB Pritzker and Flender Corporation recently announced they are expanding their existing manufacturing facility in Elgin which will create 50 full-time employees while maintaining the existing 140 full-time employees.
The Illinois Small Business Development Center at Southern Illinois University is funded in part through a cooperative agreement between U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity and Southern Illinois University. The Center provides entrepreneurs from the local area with help in beginning or expanding their business by offering services like free workshops on business planning individual counseling sessions with expert Business Advisors, and access to funding opportunities.
State officials in Indiana are encouraging employers to offer higher pay and benefits as a way to keep child care employees in the United States as they face a shortage of employment. The move comes after the closure of a child care center in Bronzeville which was struggling to retain staff.
Illinois Department of Labor also has launched an online tool to provide small-sized businesses with information on lawful employment practices. Employers can search for keywords or browse categories on the site; as well as connect with state agencies and other resources.
Illinois Business Development Authority (IBDA) is taking steps to promote awareness of prairie press newspaper paris illinois (pressez.substack.com) tax incentives that can be used for expanding businesses by hosting an interactive webinar about this topic. The event was recorded and will later appear on the website.