Economic Development News

Gilead Sciences is investing an additional $11 billion to expand and upgrade its U.S. operations, bringing its total domestic commitment to $32 billion and aiming to generate $43 billion in economic value over the next five years. The investment includes constructing...

Eaton is investing $18.5 million to expand its aerospace facility in Orchard Park, New York, creating 77 skilled manufacturing jobs and adding 50,000 square feet of production space for critical technologies like oxygen and actuation systems used in defense,...

Five advanced energy companies in New Mexico have been awarded $3.3 million through the state’s Advanced Energy Award Pilot Program to accelerate innovation and commercialization. The grants, administered by the Economic Development Department’s Office of Strategy,...

Eli Lilly broke ground on its $4.5 billion Medicine Foundry in Lebanon, Indian, an industry-first facility combining research, development, and clinical trial manufacturing at one site. Gov. Mike Braun joined the ceremony, calling it a major step in reshoring...

Governor Gretchen Whitmer and the Michigan Economic Development Corporation announced $25 million in Revitalization and Placemaking grants to support 64 projects in 48 communities statewide. The grants aim to stimulate over $120 million in public space investments and...

German-based Tench Group will invest over $50 million to build its first U.S. manufacturing facility in southwest Charlotte, creating 74 high-paying jobs by 2026. The plant will produce bushings, which are critical components in high-voltage power transformers, and...

AIRSYS Cooling Technologies is investing $40 million in a new global headquarters and advanced manufacturing facility in Woodruff, South Carolina, creating 215 jobs. The 264,000-square-foot site will include one of the world’s largest 3D printing factories for...

Tennessee is investing $45 million through the newly approved Rural Development Fund to boost infrastructure and business growth in rural communities. Economic Development Commissioner Stuart McWhorter called it one of the largest investments under Gov. Bill Lee,...

Governor Kathy Hochul signed new legislation under the FY26 Enacted Budget to boost New York’s economy by supporting small businesses and investing in advanced industries. The plan expands access to low-interest capital through the Low Interest Capital Program (LINC),...

New Jersey Community Capital has closed an $8.5 million New Markets Tax Credit loan to support construction of The Hip Hop Museum in the Bronx, NY. As the world’s first museum dedicated to preserving and celebrating Hip Hop, the museum is expected to attract over a...