Economic Development News
The latest trends, news and insights on economic development.
ISM Forecast: Manufacturing Growth Stalls Under Tariff Pressure
The U.S. manufacturing sector is bracing for a tough year, with revenue growth projected at just 0.1% amid rising costs and ongoing tariff uncertainty, according to a new ISM forecast. The outlook marks a steep decline from December’s 4.2% growth projection and is...
Piramal Pharma Invests $90M to Expand Manufacturing Facilities in Kentucky and Michigan
Piramal Pharma is expanding its U.S. manufacturing footprint with a $90 million investment toward the expansion of its Lexington, Kentucky, and Riverview, Michigan, facilities. The Lexington site will add 24,000 square feet of manufacturing space, a new lab, filling...
Montgomery Awarded $1.27M SEEDS Grant for Industrial Site Acquisition
A $1.27 million SEEDS grant has been awarded by the Alabama Department of Commerce to the Montgomery Area Chamber of Commerce and the Montgomery Industrial Development Board for the acquisition of the 111-acre Del Sol property. Strategically located along U.S. Highway...
John Deere Commits $20 Billion to U.S. Manufacturing Industry
Manufacturing company John Deere announced a $20 billion investment in U.S. manufacturing over the next decade, reinforcing the company’s commitment to American workers and communities. This builds on John Deere’s legacy with $2.5 billion invested in U.S. factories...
NY Gov. Hochul Announces Major Investment in 23 Long Island Downtown Redevelopment Projects
Governor Kathy Hochul announced 23 transformative projects on Long Island funded through the Downtown Revitalization Initiative and NY Forward programs. Smithtown-Kings Park will advance eight projects as the Round 7 recipient of a $10 million Downtown Revitalization...
Mercedes-Benz to Base North American HQ and New R&D Facility in Metro Atlanta
Mercedes-Benz will establish its North American headquarters in Atlanta, relocating up to 500 jobs to its existing “1MB” facility in Sandy Springs, which will house sales, financial services, and corporate teams. The company also plans a multi-million-dollar...
Pharma Giant Eli Lilly Expands U.S. Footprint with $5.9 Billion Texas Facility
Eli Lilly and Company plans to invest $5.9 billion in a new active pharmaceutical ingredient manufacturing facility at Houston’s Generation Park, creating 604 full-time jobs. The project, part of Lilly’s $27 billion U.S. expansion, is expected to begin construction in...
AVL Manufacturing Chooses North Carolina For First $56 Million U.S. Facility
AVL Manufacturing will invest $56 million to establish its first U.S. production facility in Charlotte, North Carolina, creating over 325 jobs to build industrial enclosures for power generators. The Canadian company selected North Carolina for its skilled...
Project Beep: $247 Million Aerospace Development Set to Create 1,000 Jobs in Florida
An undisclosed aerospace company, referred to as “Project Beep,” plans to invest $247 million to develop facilities near NASA’s Kennedy Space Center, creating about 1,000 jobs. The project would span 25 acres at Exploration Park through a 30-year land lease with Space...
NY Gov. Hochul Awards $50M to Revitalize Communities Across New York
Governor Kathy Hochul announced over $50 million in awards for 50 projects through the Restore New York Communities Initiative, aimed at eliminating blight and boosting local revitalization efforts. Notable grants include $3.5 million each to the cities of Rome and...
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