Economic Development News

IBM is reportedly notifying thousands of U.S. employees of layoffs, with insiders estimating cuts of about 45% in the infrastructure group and over 50% in the cloud division. The move comes as the company aims to boost profitability and faces ongoing challenges in its...

A new report from the Global Electronics Association shows that U.S. electronics manufacturing directly and indirectly supports 5.2 million jobs, contributes $853 billion to GDP, and generates $1.8 trillion in total economic output. Despite global trade pressures and...

SBA Home has begun mass production at its first North American factory in Mocksville, North Carolina, marking a major milestone for the Lithuanian furniture maker. The $70 million investment is expected to create 250 jobs and produce more than 2 million furniture...

Vulcan Elements has entered a $1.4 billion partnership with the U.S. government and ReElement Technologies to expand a fully domestic rare earth magnet supply chain. The deal includes federal loans and incentives, supporting plans for the construction of a...

U.S. job postings fell to their lowest level in four years as of late October, according to new data from Indeed, reflecting a softening labor market amid the ongoing government shutdown. The firm’s Job Postings Index dropped to 101.9, a 0.5% decline from early...

Another wave of tech layoffs has hit Silicon Valley, with new state filings showing job cuts at Hewlett Packard Enterprise, Hitachi Vantara, and diagnostics firm Cepheid. HPE is cutting 52 positions in San Jose, Hitachi Vantara will eliminate 128 roles in Santa Clara,...

Montana’s manufacturing industry remains a vital driver of the state’s economy, generating more than $2 billion in base labor earnings in 2024, according to new reports from the University of Montana. The sector has grown faster than the national average since 2020...

XNRGY, a Canada-based company specializing in cooling systems for data centers, has opened its first U.S. manufacturing facility in Mesa, Arizona. The 275,000-square-foot Mesa 1 plant is part of a $300 million investment expected to create 900 jobs, with an additional...