Economic Development News

Toyota is investing $50 million to upgrade its Arizona Proving Grounds near Wittman, enhancing its vehicle testing and development capabilities. The expansion includes a new 5.5-mile oval track, off-road park, and ride-and-handling surfaces, with completion expected...

Rhoads Industries is investing nearly $100 million to expand its manufacturing operations at the Philadelphia Navy Yard, creating 450 new jobs and retaining 541 existing positions. The expansion includes a 95,000-square-foot facility that will support submarine...

Online retail in the U.S. has seen its steepest decline in over a decade, with nearly all major e-commerce categories experiencing double-digit drops, according to a new AlixPartners survey. The downturn coincides with President Trump’s aggressive trade policy and...

U.S. private sector employment unexpectedly declined by 33,000 in June, marking the first drop in recent years and raising concerns about labor market strength. The losses were concentrated in professional, business, education, and health services, while sectors like...

Microsoft is laying off nearly 9,100 employees in its largest round of job cuts since 2023. This follows another round of layoffs in May that impacted about 6,000 employees, as the company moves to streamline operations and reduce management layers across teams and...

Hikma Pharmaceuticals has announced a $1 billion investment to expand its U.S. manufacturing and R&D operations by 2030, reinforcing its role as a major generic drug supplier amid growing tariff uncertainty. The investment targets facilities in Columbus and...

Electrical distribution transformer and technology products manufacturer Howard Industries is investing nearly $237 million to expand its operations across Clarke, Jones, and Simpson counties in Mississippi, creating 450 new jobs. The expansion will help the company...

President Trump is preparing to impose sharply higher “reciprocal” tariffs on over a dozen countries, with letters detailing new rates, some as high as 70%. The move marks the end of a three-month tariff moratorium and comes as few trade agreements have been...

According to BLS’ latest Job Openings and Labor Turnover Survey, U.S. job openings rose to 7.77 million in May, reaching a six-month high and surprising economists who expected a slowdown amid ongoing economic uncertainty. Gains were led by the accommodation and food...