Economic Development News
The latest trends, news and insights on economic development.
Korn Ferry: ‘Job Hugging’ Replaces Job Hopping in Today’s Market
A new Korn Ferry report says the post-pandemic trend of job hopping has been replaced with “job hugging,” with employees clinging to positions amid layoffs, AI disruption, and economic uncertainty. Surveys show most workers view the job market as “treacherous” and...
John Deere Cuts 238 Jobs at East Moline, Moline, and Waterloo Plants
John Deere announced another round of layoffs, citing weak demand and lower number of orders. The cuts affect 115 workers at Harvester Works in East Moline, 52 at Moline’s Seeding and Cylinder site, and 71 at the Waterloo Foundry. The move follows a 9% quarterly...
New York Awards $51M to Prepare Shovel-Ready Sites
New York awarded more than $51 million through its FAST NY program to make sites shovel-ready for high-tech companies and large employers. The FAST NY program, administered by Empire State Development, funds both pre-development work and infrastructure improvements...
Johnson & Johnson Expands in North Carolina With $2 Billion Investment
Johnson & Johnson plans to expand its North Carolina footprint with a new $2 billion 160,000-square-foot manufacturing facility in Holly Springs, creating 120 jobs. The company also has an ongoing construction of a Wilson plant expected to employ over 500 people....
Santa Monica, CA Eases Rules in Bid to Boost Local Business and Downtown Activity
Santa Monica, California is putting efforts to create a more vibrant and business-friendly downtown with new city council reforms. The Santa Monica City Council approved permanent reforms to boost local business and attract new ventures including expedited alcohol...
Court Ruling Paves Path for Workforce Reduction at Consumer Financial Protection Bureau
The U.S. Court of Appeals for D.C. has cleared the way for the Trump administration to move forward with mass layoffs at the Consumer Financial Protection Bureau (CFPB), overturning a lower court injunction. The decision allows the agency to cut roughly 80% of its...
T-Mobile to Cut 121 Jobs in Bellevue Following $4.4B Acquisition Move
T-Mobile US Inc. will lay off 121 employees at its Bellevue, Washington headquarters, effective October 17, as part of cost-cutting and post-merger integration efforts following its $4.4 billion acquisition of U.S. Cellular assets. The reductions are said to primarily...
Barrett Firearms Breaks Ground on $76.4 Million Manufacturing Campus in Tennessee
Barrett Manufacturing and Technology Campus broke ground in Murfreesboro, kicking off a $76.4 million economic development project. The facility is anticipated to create 183 jobs, supporting the local community’s workforce. Slated for completion in early 2027, the...
Koon Chun Brings 50 Jobs to Georgia With $70 Million Sauce Facility
Koon Chun (USA), a sauce manufacturer that specializes in Asian condiments, plans a $70 million investment to establish a new U.S. manufacturing headquarters in Gainesville, Georgia. This new 41-acre facility in Gainesville 85 Business Park is expected to create up to...
$250 US Visa Fee Could Cost U.S. $11 Billion in Tourism Revenue
President Trump’s new $250 visa integrity fee could deter travelers and cost the U.S. economy $11 billion in three years, according to a Tourism Economics analysis by Forbes. The fee applies to non-immigrant visa travelers from countries not in the Visa Waiver...
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