Economic Development News
The latest trends, news and insights on economic development.
Ford Expands Louisville, Kentucky Footprint with $41 Million Land Purchase
Ford Motor Co. has expanded its Louisville presence with the $41.28 million purchase of more than 65 acres of land next to its Kentucky Truck Plant on Chamberlain Lane. The property, previously bought for $575,000 in 2018 by Cincinnati-based Nine Five, highlights...
US Senate Confirms Three New Commerce Department Leaders
The Senate voted 51-47 to confirm three new leaders at the U.S. Department of Commerce, including David Fogel as assistant secretary for global markets and director general of the United States and Foreign Commercial Service, Pierre Gentin as general counsel, and...
Takeda Cuts 137 Jobs in Cambridge, Massachusetts
Takeda Pharmaceuticals will lay off 137 employees next year as it discontinues its cell therapy program, marking a move separate from last year’s 1,000 job cuts under a broader efficiency plan. The layoffs, affecting staff across three Cambridge locations, will begin...
White House Suggests Not All Furloughed Workers Will Be Paid
Federal workers face growing uncertainty as the government shutdown deepens, with a White House memo suggesting not all furloughed employees may receive back pay once operations resume. The Trump administration’s stance contradicts existing federal law requiring back...
Glaukos Expands to Huntsville with $80 Million Facility, Bringing 150 Jobs
Glaukos Corp. is investing $80 million to build a new research, development, and manufacturing facility in Huntsville that will create more than 150 full-time jobs. The 200,000-square-foot site in Cummings Research Park will focus on developing innovative therapies...
Isuzu Breaks Ground on $280M Truck Plant in South Carolina, Creating 700 Jobs
Isuzu has broken ground on a $280 million truck manufacturing facility in Greenville, South Carolina, with the project expected to employ more than 700 workers. The state-of-the-art plant will produce N-Series Gas, N-Series Electric, and F-Series Diesel trucks, aiming...
369 Starbucks Workers in WA to Be Laid Off as Stores Close
Starbucks will lay off 369 workers in Washington following a wave of store closures nationwide, according to a state filing. The layoffs, effective Dec. 5, stem from the closure of locations including the Capitol Hill Reserve Roastery and Sodo Reserve store in...
Fannie Mae Survey Shows Deepening Economic and Housing Gloom
A new Fannie Mae survey shows growing economic pessimism in the U.S., with nearly 70% of Americans believing the economy is on the wrong track and 73% saying it’s a bad time to buy a home. Persistently high mortgage rates and home prices continue to challenge...
Automation Could Impact 23 Million American Jobs, SHRM Finds
Roughly 15% of U.S. jobs, or 23 million positions, are at high risk of automation, according to SHRM’s latest study. The report highlights computer and mathematics occupations as the most vulnerable, with 32% of tasks potentially automated. However, SHRM says “job...
Stellantis Plans $10 Billion Investment to Strengthen U.S. Manufacturing Footprint
According to Bloomberg, Stellantis plans to invest $10 billion in U.S. manufacturing, expanding operations in Illinois and Michigan. The move would add $5 billion in new funding to a previous U.S. commitment as the automaker navigates tariffs and renewed pressure to...
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