This is a budget that invests in economic development, job training, business attraction and more to bring and create new jobs here in Illinois. The budget allocates $10 million for grants to minority entrepreneurs and another $10 million to help smaller communities offer incentives to attract job creators—encouraging diverse businesses to expand throughout the state.

Whether it is a young person finding their path after high school or someone looking to make a career change, Illinois is making robust investments to build a highly skilled and diverse workforce ready for the industries of the future. Increased investments to develop advanced manufacturing, EV technology and data center workforce training will further build the pipeline of qualified workers in key industries.

It also includes $10 million toward a new, multi-year initiative to develop and implement a one-stop business portal to assist people looking to start new businesses or relocate businesses to Illinois, fostering entrepreneurship and connecting them with business development resources.

The budget takes the diverse needs of the business community into account and takes steps to make it easier to do business in Illinois. By moving to phase out the franchise tax, allocating new funding to revitalize commercial corridors and providing an additional $40 million in forgivable loans to social equity cannabis licensees, this budget lays the foundation for a competitive business environment in every industry and community across the state.