Stay informed about business news and updates in Chicago, IL.
Yuengling Brewery, America's oldest brewery, is set to expand its reach into Illinois by 2025, marking a significant milestone for the Pennsylvania-based company. The brewery will offer its line of beers at local restaurants, bars, and major retailers, catering to the growing demand for craft beer in the region.
Chicago's Community Investment Corp. has received a record-breaking $15 million donation from philanthropist MacKenzie Scott, marking her second contribution to the nonprofit. This generous gift could lead to the establishment of a new scholarship program, further enhancing community support and investment initiatives.
The Chicago Department of Aviation has announced new daily operating hours for its Small Business Resource Centers at O’Hare and Midway International Airports. This initiative aims to support local businesses by providing essential resources and guidance, enhancing economic opportunities in the region.
Mayor Brandon Johnson has announced that a London tech startup will establish its U.S. headquarters in Chicago, promising significant well-being benefits for businesses across the nation. This strategic move is set to enhance the local economy and foster innovation in the tech sector.
Mayor Brandon Johnson is leading a high-level business mission to London with World Business Chicago to explore economic growth opportunities for the city. This initiative aims to strengthen international ties and attract business investments, showcasing Chicago as a viable destination for global commerce.
Four industrial projects on Chicago's West Side have been approved for property tax incentives, saving over $13 million in taxes through Cook County. The City Council's decision aims to bolster local development and attract businesses to the area, enhancing economic growth.
The City Council approved a Cook County Class 7(d) property tax incentive for Pete's Fresh Market in Ashburn, aimed at offsetting construction costs for the newly opened supermarket. The $15 million store, which replaced an Ultra Foods location, is expected to benefit from an estimated $4.6 million tax reduction over 12 years, promoting investment in economically challenged areas.
The City Council has approved a Cook County Class 6(b) property tax incentive for IGS HQ LLC, a landscape decor company, to support a $2 million construction project in West Town. This initiative aims to enhance industrial retention and attraction in underutilized properties, ultimately providing 13,500 square feet for manufacturing and storage space.
Mayor Brandon Johnson announced a Request for Proposal for the Small Business Capacity Building Program, aimed at supporting small businesses in Chicago with resources for recovery and growth. The program, funded by the American Rescue Plan Act, will provide customized coaching and consultations to enhance business operations.
The Chicago Department of Aviation has announced expanded office hours for its Small Business Resource Centers at O'Hare and Midway International Airports to assist prospective vendors. These centers offer various resources, including one-on-one assistance, networking events, and workshops aimed at facilitating business opportunities at the airports.