DOING BUSINESS IN ILLINOIS

The View From Illinois: Governor JB Pritzker

During 2023, Illinois saw stellar economic growth, which continued in 2024 under the leadership of Governor JB Pritzker.

As one indicator, during 2023 the number of jobs created by the state’s Economic Development for a Growing Economy (EDGE) program and the Reimagining Energy and Vehicles (REV) program increased more than 50%, from 2,691 to 4,279 with the number of retained jobs increasing from 151 to 2,962. By comparison, prior to the pandemic in 2019, company investments from EDGE totaled $348 million, new jobs totaled 1,667, and REV did not yet exist.

And, through the Advantage Illinois (AI) program, the state issued a record 145 low-interest loans totaling $35.7 million to small businesses—the most issued in a year since the program’s inception in 2012. Nearly 70% of loans were provided to Socially and Economically Disadvantaged Individuals (SEDI) or through the Fund for the Advancement of Minority Enterprises (FAME). The Illinois Department of Commerce and Economic Opportunity (DCEO) is expanding small business support due to $350 million in funding as part of the State Small Business Credit Initiative (SSBCI) administered by the U.S. Department of the Treasury.

With competitive incentives, modern infrastructure, significant transportation options, and an abundant and qualified workforce, Illinois is attracting companies making large-scale, long-term investments.

Business Facilities spoke with Gov. Pritzker, who took office in January 2019, about the latest for business and residents in Illinois…

Click here to read the rest of this article.