Economic Development News

Michigan State University is moving forward with budget cuts that could eliminate about 200 jobs as it reduces general fund spending by 6% this year, officials confirmed. President Kevin Guskiewicz said final layoff numbers are not yet determined, with union...

Port Pascagoula generated more than $18.25 billion in total economic output in fiscal 2024, supporting over 28,000 jobs across Mississippi, according to a new study by the University of Southern Mississippi's Trent Lott National Center. The report found the the port...

Apple CEO Tim Cook said the company will follow through on its $600 billion U.S. manufacturing investment, highlighting a major push into domestic semiconductor production. The spending plan includes a $2.5 billion expansion with glassmaker Corning in Kentucky and...

Pharmaceutical giant GSK announced a five-year, $30 billion investment in U.S. research, development, and manufacturing as President Donald Trump visits the U.K. The plan includes $1.2 billion for advanced manufacturing, AI, and digital technologies, such as a new...

New unemployment claims in the U.S. rose to more than 260,000, the highest level in four years, according to Bureau of Labor Statistics data. The spike comes alongside downward revisions showing 911,000 fewer jobs were created in 2024 than initially reported, while...

New data from Moody’s Analytics Chief Economist Mark Zandi shows a widening divide in U.S. consumer spending, with the top 20% of households driving economic growth while the bottom 80% have barely kept pace with inflation. The wealthiest households have outspent...

Pennsylvania’s tourism industry generated nearly $84 billion in 2024, supporting more than 514,000 jobs and drawing over 201 million visitors, according to a new state report. Visitor spending reached $49.9 billion, with international travelers making up 4.2% of...

Georgia-Pacific will invest $800 million to modernize and expand its Alabama River Cellulose mill in Monroe County, making it the largest softwood pulp mill in the U.S. The project, set to run from late 2025 through 2027, will boost production capacity by about 300...

Eli Lilly has chosen Goochland County, Virginia, as the site of a $5 billion manufacturing plant, the first of four new U.S. “mega sites” included in its $27 billion domestic investment plan. The facility will employ 650 people and focus on producing active...