Economic Development News

BelGioioso Cheese will invest over $23 million to upgrade its Glenville and Campbell facilities, creating at least 30 new jobs and using an additional 100 million pounds of milk from New York dairy farmers. The expansion, supported by state and local incentives, will...

British drugmaker AstraZeneca will invest $2 billion to expand its Frederick biologics plant and establish a new clinical manufacturing site in Gaithersburg, Maryland. The projects will create 300 new jobs and enable the production of rare disease products and medical...

FedEx will close its Coppell, Texas supply chain facility, resulting in 856 job losses due to a major customer moving operations to another provider. The layoffs, set to begin January 16, 2026, will continue through April 29, 2026. Affected employees will receive...

U.S. core wholesale prices in September rose just 0.1%, below expectations and signaling potential easing in pipeline inflation pressures, according to the Bureau of Labor Statistics. Producer price index increased 0.3% for the month, driven largely by a sharp 0.9%...

The biotech firm Moderna is investing $140 million to scale up its Moderna Technology Center in Norwood, Massachusetts to complete domestic end-to-end mRNA production by 2027. The project is expected to create hundreds of construction and biomanufacturing jobs,...

Nokia announced a $4 billion investment to boost its manufacturing and research capabilities across the U.S., including Texas, New Jersey, and Pennsylvania. The funding will focus on AI-ready technologies, advanced networking, and R&D, with $3.5 billion dedicated...

The U.S. labor market shows signs of weakening as private companies shed an average of 13,500 jobs per week over the past four weeks, up from 2,500 weekly losses in the prior report, according to ADP. With government shutdowns delaying key economic data, alternative...

The New York City Economic Development Corporation’s 2025 Incentives Portfolio Annual Report shows that its three tax incentive programs have leveraged over $40 billion in private investment since 2011. The incentive programs have supported hundreds of projects,...