Economic Development News
The latest trends, news and insights on economic development.
OECD Sees U.S. Growth Slowing as Tariff Impact Deepens
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...
$65M New Balance Plant Brings 400 Jobs to Maine
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 Expansion to Add 420 Jobs in Guilford County with $77 Million Investment
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...
Amazon Logistics Contractor, Accelore Group, Cutting 214 Jobs in North Texas
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...
U.S. Business Growth Weakens in September; PMI falls to three-month low
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...
$135M Medical Products Facility Expansion Breaks Ground in Brunswick, Maine
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,...
Global Transformer Producer WEG’s $77 Million Expansion in Missouri
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....
Los Angeles Averts 2025-26 City Layoffs
An agreement signed by Los Angeles Mayor Karen Bass has averted all remaining layoffs and furloughs of city workers in the 2025-26 fiscal year. The agreement prevents 600 planned job cuts, by transferring staff, reducing overtime expenses, and instituting unpaid leave...
Report: Clean Energy Sector Added Nearly 100,000 Jobs in 2024, but Momentum is Slowing
A new report from E2 shows clean energy jobs in the U.S. grew more than three times faster than the overall economy in 2024, adding nearly 100,000 positions and bringing the sector’s total to 3.56 million. But growth has slowed since Donald Trump returned to office,...
Denver Appoints New Members to Downtown Development Authority
The City and County of Denver announced new appointments to the Denver Downtown Development Authority Board of Directors, expanding it to seven members. Mary Nguyen, a leader in Denver’s culinary scene, and Patty Salazar, a seasoned regulatory and legislative...
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