Economic Development News
The latest trends, news and insights on economic development.
ADP Reports Weakest Private-Sector Job Gains Since March 2023
Recorded as the weakest monthly gain since March 2023, U.S. private-sector job growth slowed sharply in May, with just 37,000 positions added, according to ADP. The slowdown fell well below economists’ expectations of 130,000 jobs and reflects growing hiring hesitancy...
Illinois Targets Economic Growth with $500 Million Site Development Investment
Governor JB Pritzker’s seventh balanced budget includes a record $500 million investment in Illinois' new Site Readiness initiative, aimed at transforming unused state properties into economic assets. The investment allocates $300 million to the "Surplus to Success"...
Rolls-Royce Invests $24 Million to Increase U.S. Production, to Create 100 Jobs
Rolls-Royce is investing $24 million to increase production of backup power systems for data centers, including the development of a 250,000-square-foot Logistics Operations Centre (LOC) near its existing manufacturing facility in Mankato, Minnesota. The expansion is...
Trump’s Tax Bill Sparks Economic Clash With Elon Musk
Tensions escalated between President Trump and Elon Musk after Musk blasted Trump’s “Big and Beautiful Bill” as a “mountain of disgusting pork,” criticizing its elimination of EV tax credits and warning it could increase the federal deficit. The bill, a centerpiece of...
WalletHub Releases Best and Worst State Economies Report
WalletHub’s 2025 Best and Worst State Economies report ranked Massachusetts as the top-performing state, followed by Utah, Washington, California, New Hampshire, North Carolina, Idaho, Texas, Maryland, and Colorado. At the other end, Wyoming, Nebraska, Mississippi,...
Kaiser Announces Latest Round of California Layoffs
Kaiser has laid off 55 employees across California, including 40 in the Bay Area, in its latest round of permanent job cuts. Affected locations include Oakland, San Francisco, Fremont, and Vallejo, as well as sites in Los Angeles County and San Diego. These layoffs...
GlobalFoundries Adds $3 Billion to U.S. Expansion Plans
GlobalFoundries is investing an additional $3 billion to expand semiconductor manufacturing and packaging capabilities in Malta, New York, and Essex Junction, Vermont, building on its previously announced $13 billion commitment. The move comes as the company looks to...
$54 Million Grillo’s Pickles Facility Coming to Bartholomew County, Indiana
Grillo's Pickles is investing $54 million in a new 155,000-square-foot food manufacturing facility in Bartholomew County, Indiana, creating up to 150 jobs to meet growing national demand. The site sits adjacent to the previously announced $175 million King’s Hawaiian...
Florida Eyes Deeper Economic Ties with Italy in November Trade Trip
Florida Governor Ron DeSantis will lead a trade delegation to Italy from November 11–15 to strengthen economic ties with the state’s 14th largest trade partner. The mission will span major Italian cities and include representatives from sectors such as aerospace,...
Consumer Prices Rise at Slowest Pace in Seven Months
A key U.S. inflation gauge showed further cooling in April, as consumer prices rose at their slowest annual pace in seven months, according to a report from the Commerce Department. Inflation eased with consumer prices rising 2.1%, the slowest pace since September,...
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