Economic Development News

Goodyear Tire & Rubber Company is investing $320 million over four years to expand its Lawton, Oklahoma plant and increase production of large-rim tires used by electric and autonomous vehicles. The project will boost production capacity by nearly 30%, adding 10...

One of the leaders in the steel industry, Alton Steel Inc. is receiving a $4 million boost through New Markets Tax Credits from Heartland Regional Investment Fund, LLC, a subsidiary of the St. Louis Economic Development Partnership, in partnership with Advantage...

Luxury giants LVMH and Hermès are starting to feel the impact of Trump tariffs, with LVMH reporting lower Q1 revenue and Hermès preparing to raise U.S. prices. While LVMH explores shifting more production to the U.S., it acknowledges potential disruptions to its...

Jasper Lumber Co. is nearing completion of a $135 million sawmill upgrade at its Walker County, Alabama facility, which is set to increase output from 65 million to 225 million board feet annually by 2026. The multi-year modernization will not only improve production...

AgriAmerica Fruit Products LLC has completed the upgrade of its grape juice processing facility in Fredonia, Chautauqua County, which includes the installation of $2.5 million in new machinery, significantly boosting Western New York's fruit processing capacity. This...

North Carolina announced that the Rural Infrastructure Authority (RIA) has approved $1.89 million in grants for rural economic development, aiming to create 67 new jobs and attract over $15.5 million in private investment. The approved funds will be allocated to...

The Colorado Economic Development Commission approved nearly $20 million in incentives for five companies eyeing expansion or relocation to the state, with projects spanning batteries, aerospace, nutrition and food, bio oil, satellite imagery, and electric motors. The...

President Trump's 25% tariffs on imported cars are already causing significant disruptions in the auto industry, with several carmakers halting exports to the U.S., idling factories, and laying off workers. Jaguar Land Rover, Stellantis, and Audi have all paused...

Bayer, a multinational pharmaceutical and biotechnology company, has completed a $44 million, 70,000-square-foot expansion of its Consumer Health Manufacturing Operation in Myerstown, Pennsylvania, boosting production and packaging capabilities for its...

Connecticut has announced the approval of $77 million in funding for the sixth round of grants under the Community Investment Fund 2030, which will support 35 economic development projects across 21 towns and cities in the state. Aiming to revitalize underserved areas...