Economic Development News

The U.S. cable industry generates $568.7 billion in economic output and supports 1.3 million jobs, according to a new report from NCTA. Cable broadband providers alone drive $366 billion in impact and support nearly 888,000 jobs, while cable programmers contribute...

Capital One Financial will cut about 382 jobs tied to Discover Financial Services’ headquarters in Riverwoods, Illinois, as part of its ongoing integration after acquiring Discover. Most cuts will take effect Nov. 17, with the final separations occurring by March...

The Organization for Economic Cooperation and Development projects U.S. growth will slow to 1.8% in 2025 and 1.5% in 2026, down from 2.8% in 2024, as the full impact of tariff hikes sets in. The report warns that companies’ efforts to absorb costs by cutting profit...

New Balance has opened a $65 million factory in Skowhegan, Maine, employing 400 workers as part of its U.S. manufacturing network. Company leaders and state officials praised the investment as a major boost for the region’s economy and a sign of the brand’s long-term...

Lenovo Global Technology U.S. Inc. confirmed plans to expand its Whitsett, North Carolina operations with a $77 million investment that will create 420 jobs. The company will launch production in a 520,583-square-foot facility at 6550 Judge Adams Road in Rock Creek...

Accelore Group, a contractor for Amazon Logistics, will lay off 214 workers at two facilities in Fort Worth and Mesquite, Texas, by Nov. 1, according to a state filing. The job cuts include mostly delivery associates, along with several managers, after the company...

Business growth in the U.S. slowed in September as demand weakened across both manufacturing and services, according to S&P Global’s latest PMI survey. The poll found unsold factory stockpiles rose at a record pace, while companies reported tariffs driving higher...

Mölnlycke has broken ground on a $135 million expansion of its Brunswick Landing facility in Maine, adding new production lines, warehousing, and assembly operations for wound care dressings. The project, supported by the state’s Dirigo Business Incentive Program,...

WEG, a global producer of transformers, will invest $77 million to expand its Washington, Missouri facility, creating 50 new jobs and paying wages above the county average. The project will increase capacity for the company’s Utility and Clean Energy customers....