Economic Development News
The latest trends, news and insights on economic development.
Over 36,000 Fast Food Jobs Axed in California Post-Wage Hike
California has lost more than 36,565 fast food jobs since the $20 minimum wage law (AB 1228) was signed in 2023, according to new federal data from the federal Bureau of Labor Statistics. Job losses have been driven by rising labor costs, automation, and location...
Tennessee Leaders Heads to Paris Air Show to Attract Jobs and Forge Global Partnerships
Tennessee Governor Bill Lee and Economic Commissioner Stuart McWhorter will attend the 55th International Paris Air Show as part of an international recruitment mission to attract new jobs and investment to the state. The trip will also include meetings with global...
JPMorgan CEO Warns of U.S. Economic Slowdown Ahead
JPMorgan CEO Jamie Dimon warned that the U.S. economy may soon weaken as the effects of pandemic-era government spending and monetary policy fade. While job growth and consumer spending remain solid, Dimon said weakening could appear in employment and inflation...
29 Illinois Manufacturers Receive $1.3 Million in State Grants for Growth
Illinois awarded $1.35 million in grants to 29 small and mid-sized manufacturers through its 2025 Made in Illinois Grant Program. The funding aims to boost innovation, productivity, and competitiveness in the state’s manufacturing sector. Administered by Illinois...
Cargill Invests $90 Million in High-Tech Upgrade at Colorado Beef Plant
Cargill will invest $90 million in automation and computer vision at its Fort Morgan, Colorado beef plant to improve cutting accuracy and get more meat from each animal. The automated solution called CarVe uses computer vision to improve cutting precision in real...
P&G to Cut 7,000 White-Collar Jobs Across U.S.
Procter & Gamble is cutting around 7,000 white-collar jobs across U.S. over the next two years as part of a broad shift toward digital tools, AI, and automation. The layoffs will affect corporate departments such as marketing and R&D but will not impact...
Consumer Prices Hold Steady, Rise 0.1% in May
U.S. inflation remained mild in May, with consumer price index rising less than expected despite ongoing trade tensions and new tariffs. U.S. consumer prices index rose just 0.1% in May, with annual inflation hitting 2.4. Core CPI, which excludes food and energy, also...
Five New Bills Aim to Strengthen Texas’ Small Business Climate
Governor Greg Abbott signed five new bills aimed at making it easier and cheaper to start and run a small business in Texas. The laws expand tax exemptions, including a 5,000% increase in the business personal property tax exemption, and streamline business filings....
General Motors Expands U.S. Manufacturing with $4 Billion Investment
General Motors plans to invest $4 billion in its U.S. assembly plants across Michigan, Kansas, and Tennessee to boost production of gas and electric vehicles. The move is part of a broader strategy to strengthen domestic manufacturing amid rising tariffs, and follows...
Michigan Wine Industry to Generate Nearly $9 Billion in Economic Impact in 2025
Michigan’s wine industry is on track to generate nearly $9 billion in economic impact this year, according to a new economic impact study. With nearly 300 wineries now operating across the state, the sector supports 28,000 direct jobs and draws 1.7 million tourists...
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