Economic Development News
The latest trends, news and insights on economic development.
U.S. Steel Strengthens Alabama Operations with $75M Project
U.S. Steel will invest $75 million to install a new Premium Thread Line at its Fairfield Tubular Operations in Alabama, strengthening its capacity to produce high-quality steel pipe and tube products for the energy sector. The project will add 44 permanent jobs,...
GM Reduces EV Workforce by 3400, Pauses Plant Operations
General Motors plans to cut over 3,400 jobs across its electric vehicle and battery operations as demand for EVs continues to cool. The company will lay off about 1,200 workers at Factory Zero in Detroit and 550 at its Ultium Cells plant in Warren, Ohio, while...
Supreme Court Weighs Legality of Trump’s Tariffs
The U.S. Supreme Court heard oral arguments on the legality of former President Donald Trump’s tariff policy, examining whether the use of emergency powers under the International Emergency Economic Powers Act permits such levies. Justices questioned both the limits...
U.S. Clean Energy Sector Faces $24B in Cancellations
More than $24 billion worth of renewable energy projects have been canceled across the U.S. this year, disrupting plans by major manufacturers like GM, Toyota and Kore Power. Analysts attribute the wave of cancellations, impacting an estimated 21,000 jobs, to new...
OpenAI Unveils $7 Billion Data Center Campus to Power Michigan’s Economy
OpenAI, in partnership with Oracle and Related Digital, will invest $7 billion to develop the Stargate Michigan campus in Saline Township, touted as the largest economic project in the state’s history. The 2.2-million-square-foot facility is expected to break ground...
Top 5 RFPs in Urban Planning: November 2025
Top 5 Urban Planning RFPs of November 2025 Powered by the CivMetrics Urban Planning RFP Library 5. Broward County, FL Seeks Consultant for General Planning Issuing Agency: Broward Metropolitan Planning Organization RFP Description: BMPO is seeking...
UPS Cuts 48,000 Jobs Amid Ongoing Restructuring Effort
UPS has cut 48,000 jobs in 2025, including 14,000 management and 34,000 operational roles, as it restructures to adapt to shifting market conditions. The company said the reductions are part of a cost-saving plan which also involves facility closures. Executives said...
Industrial Demand Rebound Drives Market Stability in Q3 2025
U.S. industrial demand rebounded in Q3 2025 as vacancy held steady at 7.4%, signaling a more balanced market after rapid increases in prior years. Net absorption climbed to 60 million square feet, the strongest quarterly total since early 2023, led by Phoenix and...
U.S. Manufacturing Slump Deepens as PMI Remains Under 50
The U.S. ISM Manufacturing PMI stayed below the 50-point threshold for the seventh consecutive month, signaling continued contraction in the industrial sector as tariffs and weak global demand weigh on production. While the index saw a slight September uptick, rising...
PEGATRON to Invest $35M in First U.S. Manufacturing Plant in Texas
Taiwan-based PEGATRON Corporation will open its first U.S. manufacturing facility in Georgetown, Texas, investing at least $35 million and occupying a 168,784-square-foot site at the Blue Springs development. The project is expected to create hundreds of jobs,...
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