Economic Development News
The latest trends, news and insights on economic development.
Amazon to Cut 15% of HR Staff Amid AI-Focused Restructuring
Amazon plans to lay off about 15% of its human resources workforce, affecting its People eXperience and Technology (PXT) division of more than 10,000 employees. The move is part of a broader effort to reduce employee costs while investing $100 billion in AI and cloud...
Economists Lay Out Positive Growth Forecast, But Warn of Weak Job Market
The U.S. economy is expected to grow 1.8%, up from a 1.3% forecast in June, according to the National Association for Business Economics, which also projects 1.7% growth in 2026. The group’s survey of 40 economists found that easing interest rates and stronger...
Poll: Most Americans Say Costs Have Risen Despite Trump’s “No Inflation” Claim
Nine months into Donald Trump’s presidency, 74% of Americans say their monthly household expenses have increased by at least $100, according to a new Harris poll, despite Trump’s claims that prices are “way down.” Many voters across political parties continue to cite...
Stellantis Unveils $13 Billion U.S. Investment to Boost Vehicle Production and Jobs
Stellantis announced a $13 billion investment plan to increase U.S. vehicle production by 50% and add over 5,000 new jobs across plants in Illinois, Ohio, Michigan, and Indiana. The plan includes reopening the Belvidere Assembly Plant in Illinois, building a new...
French Quantum Firm Pasqal to Open $65 Million U.S. Headquarters in Chicago
French quantum computing company Pasqal will invest $65 million to establish its first U.S. headquarters at Chicago’s Illinois Quantum and Microelectronics Park, creating at least 50 new jobs. The facility, expected to open in 2027, will house what Pasqal says will be...
Amazon Hiring 250,000 Workers Ahead of Holiday Rush
Amazon is adding 250,000 full-time, part-time, and seasonal positions across its U.S. fulfillment and transportation network, including its largest hub at CVG in Northern Kentucky. The company is investing over $1 billion in additional pay and benefits, bringing...
Deloitte Survey Finds U.S. Consumers Gloomy Ahead of Holiday Season
A new Deloitte survey shows that 57% of U.S. consumers expect the economy to weaken in the year ahead, which is the most negative outlook since the firm began tracking sentiment in 1997. Shoppers plan to spend an average of $1,595 this holiday season, about 10% less...
AllianceTexas Drives $834.6 Million in Trade
A new report from the Texas Comptroller’s office shows AllianceTexas generated $834.6 million in international trade in 2024, marking a 550.7% increase since 2016. Acting Comptroller Kelly Hancock said the logistics hub exemplifies how innovation and infrastructure...
Louisiana Launches $150M FastSites Initiative
Louisiana has launched FastSites, a $150 million program aimed at transforming land and existing infrastructures into project-ready sites for new investments. The program, funded through the Site Investment and Infrastructure Fund created by Act 365, emphasizes speed,...
Axium Packaging Expands in Central Ohio with $45 Million Investment
Axium Packaging will invest $45 million in a new 300,000-square-foot facility in Jersey Township, expanding tube manufacturing operations and adding a specialized warehouse. The project, which will create 70 new jobs and retain over 1,200 existing positions, will...
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