SEDE Hosts Meeting for Top Executives (SEDE) The State Economic Development Executives (SEDE) Network is holding its summer meeting for state economic development executives or their top deputy in Washington, DC on the afternoon of May 12^th. Leaders are encouraged to attend SelectUSA and take time to stop over for this afternoon SEDE meeting which will be just two blocks the Investment Summit. The agenda includes discussions of current issues facing states including the changing federal landscape. Much of the meeting will be dedicated to opportunities for networking among the state economic development commissioners, secretaries and executive directors or their top deputy. Top leaders or their deputy can offer input on the agenda and register here.

SEDE Vice-Chair Becomes Head of VEDA (VermontBiz) After leading the Vermont Department of Economic Development for nearly 10 years, Joan Goldstein has been named the next chief executive office for the Vermont Economic Development Authority, or VEDA. Joan was initially appointed by former Governor Shumlin and reappointed in 2017 by Governor Scott. During that time, she has taken an innovative approach to redeveloping programs. Goldstein and her team also created and implemented investment programs for COVID-19, flood relief and recovery managed by the Department. “Joan has been a valued member of my team and has demonstrated strong leadership and creativity in her role as commissioner,” said Governor Phil Scott. “She was instrumental during the pandemic and floods to create programs that filled gaps and met the needs of Vermont employers. I’m grateful for her service and wish her all the best in her new role.” Joan was a founding member of SEDE and her leadership has been key to its success.

SEDE Member Spotlight: Mike Graney, Executive Director, West Virginia Department of Economic Development, SEDE Vice-Chair

With Joan Goldstein moving to the Vermont Economic Development Authority, the SEDE Vice Chair needed new leadership! The SEDE Steering Committee has selected Michael Graney, a long-time economic development leader, to become the new Vice Chair.

Mike was appointed to the post of executive director of the West Virginia Development Office by Governor Jim Justice in 2018 under the West Virginia Department of Commerce and extended that title to him in the newly formed West Virginia Department of Economic Development, May 2021. On October 17, 2024, he was appointed by Governor Jim Justice as Acting Cabinet Secretary of the West Virginia Department of Economic Development.

Graney earned his BA from the University of Virginia and his MBA from the University of Virginia Darden Graduate School of Business in 1990. Since then, he has spent much of his professional career in executive or co-founder positions with companies related to the petroleum industry. In those roles, he was responsible for managing different facets of business, including acquisition, construction, finance, administration, retail operations and environmental compliance including serving as president of One Stop, a chain of convenience stores based in West Virginia, between 1991 and 2015. He has been a member of numerous oil industry professional organizations and is active in many community and non-profit organizations. Thank you for your SEDE leadership!

Apr 17 Webinar: Strategies to Bridge Housing Gaps and Fuel Economic Development (SEDE) Join the SEDE Network in a discussion on housing supply and economic development. Speakers Maurice Harris from Transwestern’s Minneapolis office and Eric Lynch from the National Association of Home Builders will equip economic development leaders with the knowledge and tools needed to address housing shortages in their regions, ultimately supporting economic growth and community prosperity. Attendees will have the opportunity to engage with our speakers during a Q&A session following the presentations. Join us on April 17 at 3:00PM ET! Register here.

SBA Announces Made in America Manufacturing Initiative (SBA) The U.S. Small Business Administration announced the agency’s new Made in America Initiative to restore American economic dominance and national security by empowering small manufacturers. As part of the initiative, SBA will cut $100 billion in regulation through the Office of Advocacy, launch a Red Tape Hotline, and deploy the newly announced Office of Manufacturing and Trade to offer small manufacturers dedicated resources and training. SBA will also expand the use of the 7(a) Working Capital Pilot program and promote a skilled manufacturing workforce by partnering with agencies, trade schools and private sector stakeholders to create a pipeline of skilled workers to support manufacturing.

Are Federal Infrastructure Dollars Meeting Your Community’s Needs? (Urban Institute) In recent years, the federal government has prioritized funding large-scale investments in infrastructure through major spending initiatives. This new wave of spending has sought to expand access to clean energy, broadband, transit, affordable homes, and more. The Urban Institute analyzed dozens of federal funding programs to determine how much federal infrastructure money communities are receiving and if that funding meets community needs. This dataset includes programs enacted through the Infrastructure Investment and Jobs Act, the Inflation Reduction Act, the CHIPS Act, and other federal laws, but it is not exhaustive. The data shows that transit funding targets places with greater bus and train ridership, broadband programs support areas with greater internet needs, and housing funds may disproportionately go to areas with higher housing cost burdens but may underfund areas with poor housing quality.

*Economy 💰*

U.S. Economy Added 151,000 Jobs in February (UPI News) The U.S. created 151,000 jobs in February according to the Bureau of Labor Statistics, which was fewer than most economists expected but enough to sustain growht. Employment was up in health care, financial activities, transportation, warehousing, and social assistance. Healthcare was a driver adding 52,000 jobs in February, in line with the average monthly gain of 54,000 over the prior 12 months. Average hourly wages for all workers on private non-farm payrolls rose 10 cents to $35.93 an hour. Wages have gone up 4% since February 2024, according to the BLS.

What is a Recession, and is the U.S. Economy Heading for One? Here’s what Economists Say (CBS News) A recession is typically defined as a widespread, sustained decline in economic activity, often measured as two consecutive quarters of negative economic growth. The National Bureau of Economic Research (NBER) officially identifies recessions by analyzing six key indicators: real personal income, non-farm payroll employment, household survey employment, personal consumption, manufacturing and trade sales, and industrial production. Currently, economic data suggests a U.S. recession is unlikely in the near term. While layoffs are increasing, the labor market continues to add jobs at a steady pace. Economic growth is slowing but not collapsing. However, warning signs like declining retail spending are emerging, which could signal a sharper downturn ahead. Last month, the unemployment rate rose slightly to 4.1% from 4%, but employers still added 151,000 jobs—enough to keep unemployment relatively stable and indicate ongoing hiring activity.

OECD Economic Outlook, Interim Report March 2025 (OECD) The global economy remained resilient in 2024, expanding at a solid annualized pace of 3.2% through the second half of the year. However, recent activity indicators point to a softening of global growth prospects. Business and consumer sentiment have weakened in some countries and inflationary pressures continue to linger in many economies. At the same time, policy uncertainty has been high and significant risks remain. Higher-than-expected inflation would prompt more restrictive monetary policy and could give rise to disruptive repricing in financial markets. On the upside, agreements that lower tariffs from current levels could result in stronger growth.

‘Anti-Displacement Tool’ for Funding Louisville Projects that Won’t Price Out Residents (Shelterforce) The City of Louisville will soon begin using a newly developed algorithmic tool that aims to stop city funding from going to housing projects that would displace local residents. The tool was mandated by a tenant-led 2023 law and, after a year of development by researchers at Boston University, was approved for use in November 2024. The tool analyzes whether a given project meets the neighborhood’s housing needs and income levels, ensuring that rents match local incomes. If the development does not meet these standards, then the city cannot subsidize it. The tool has a range of inputs for proposed developments including the project’s address, number of units, and median incomes for those units, ranging from 30 percent to 80 percent. The new anti-displacement tool hasn’t been utilized yet, but because it’s now a mandatory part of the development process when city subsidies are in play, housing advocates believe it will be put to use soon.

*Trade 📈*

USMCA Forward 2025 (The Brookings Institution) As the United States, Mexico, and Canada begin discussions in the run-up to the 2026 review of the United States-Mexico-Canada Agreement (USMCA), this compilation of expert papers aims to identify areas where strengthening relations between the three countries can advance key economic and national security goals for the United States—and where USMCA reform can help. This year’s contributions coalesce around three key areas: securing the supply of critical minerals and rare earth elements, building globally competitive electric vehicles and batteries, and securing North American leadership in artificial intelligence.

U.S. Trade Representative Announces 2025 Trade Policy Agenda (Office of the USTR) The U.S. Trade Representative delivered the 2025 Trade Policy Agenda, 2024 Annual report, and World Trade Organization at Thirty report to Congress. The agenda lays out the Administration’s vision for trade, describing the economic and national security challenges facing the United States and articulates a plan for rebalancing trade to address those challenges. Congress requires the U.S. Trade Representative to submit the President’s Trade Policy Agenda and Annual Report by March 1 each year. The 2024 Annual Report gives a summary of the activities undertaken by the Office of the USTR during the previous year. The WTO at Thirty report assesses U.S. interests at the WTO, describing the challenges facing the institution and the need for reform.

*Industry Trends 💡*

How U.S. Manufacturers Can Take Advantage of Reshoring (MEP National Network) Reshoring has emerged as an attractive option for manufacturers to address rising transportation costs, bottlenecks at ports, and uncertainties with importing critical materials. The reshoring movement is being driven by an increased emphasis on supply chain resiliency following supply disruptions in recent years. Bringing manufacturing closer to home reduces risks and improves responsiveness. Yet the thought of reshoring some or all of the supply chain can be intimidating for a small or medium-sized manufacturer (SMM) lacking supply chain expertise. In this white paper, key considerations are analyzed for taking advantage of the reshoring movement, such as making the decision on whether to reshore, leveraging supplier scouting, developing a roadmap to fill suppl chain gaps, and investing in technology to make reshoring more feasible and cost-efficient. Expert guidance is available through local MEP Centers and the MEP National Network, which offers resources to help manufacturers navigate the reshoring process.

Critical Minerals Processing Will Be The Equivalent of 19^th-Century Oil Refineries (Yahoo Finance) The industries of the future will require critical minerals. As the world seeks to generate massive amounts of energy, the real money isn’t in mining lithium, nickel, or rare earths—it’s in controlling how the movement, processing, and scaling. A new industrial empire is being built, and just like John D. Rockefeller’s pipelines in the 19th century, the infrastructure behind critical minerals will be an incredible wealth generator.

How is Additive Manufacturing Being Adopted in Defense? (3D Natives) Government policies are driving the use of 3D printing in the military sector. The new technology has become key for the Department of Defense to embrace flexibility and innovation – both key characteristics of additive manufacturing, ultimately prompting the DOD to adopt their very own Additive Manufacturing Strategy back in January 2021. The strategy outlines three key ways in which the use of 3D printing aligns with DoD’s broader mission: by modernizing national defense systems, increasing material readiness through rapid prototyping and production of direct parts, and to enable warfighters to employ innovative solutions through the vase capabilities of additive manufacturing. Challenges for adoption include lack of training, issues with certification and security concerns notably related to data breaches. It is likely that additive manufacturing will continue to grow in the U.S., especially with the new administration’s priorities in a stronger military, which can be accomplished through technological advances.

*Workforce ⚒️*

Interactive Workforce Development Map Launched for Central Iowa (BusinessRecord) Capital Crossroads and the Greater Des Moines Partnership’s DSM Workforce Collaborative have launched the Capital Crossroads Workforce Development Ecosystem Map, which offers a visual representation of workforce development organizations, programs and resources in Polk, Dallas, and Warren counties in Iowa. The map is designed as an interactive tool to help workforce development professionals better navigate workforce resources in Central Iowa. The pilot was launched in response to interest from business, human resources, education, and state leaders working to advance regional workforce needs. The effort aligns with the goals of the Partnership’s DSM Workforce Collaborative, a group focused on improving the current and future workforce in Central Iowa. The map will be updated regularly to reflect current programs and resources. Community members can provide feedback through the website. View the map here.

Regional NC Reconnect Initiative Seeks to Connect Adults to Training Programs (Carteret County News-Times) Carteret Community College has secured its place in the fifth cohort of NC Reconnect, a statewide initiative to engage more adult learners and provide them with fast, flexible, and in many cases tuition-free education and job training programs. NC Reconnect is a collaborative effort first launched in 2021 by the John M. Belk Endowment, myFutureNC, and the Belk Center for Community College Leadership, to address the state’s critical workforce needs, while simultaneously improving future economic opportunities and the quality of life for more adults, families, and communities across the state. Based on the results from the first 20 community colleges involved in the effort, NC Reconnect has proven to be a catalyst for positive change in the state, with 2,817 additional adult learners enrolled in North Carolina community colleges from the initiative in just the past four years. This year, the potential is even greater with the state’s new Next NC Scholarship. Next NC is a financial aid program that helps most North Carolinians from households making $80,000 or less pursue higher education by fully covering tuition and fees at any of the state’s community colleges.

The New Geography of Labor Markets (The University of Chicago) Authors used matched employer-employee data to study where Americans live in relation to employer worksites. Mean distance from employee home to employer worksite rose from 15 miles in 2019 to 26 miles in 2023. Twelve percent of employees hired after March 2020 live at least fifty miles from their employers in 2023, triple the pre-pandemic share. Distance from employer rose more for persons in their 30s and 40s, in highly paid employees, and in Finance, Information, and Professional Services. Among persons who stay with the same employer from one year to the next, the authors found net migration to states with lower top tax rates and areas with cheaper housing. These migration patterns greatly intensify after the pandemic and are much stronger for high earners.

*Business Expansions and Incentives 📊*

GE Aerospace to Invest Nearly $1B in U.S. Manufacturing (Manufacturing.Net) GE Aerospace announced that it plans to invest nearly $1 billion to strengthen manufacturing and increase the use of new materials and parts needed for the future of aviation. The company expects the investment to help increase engine safety, quality, and delivery while hiring 5,000 workers in manufacturing and engineering roles. Investments will be made in numerous sites, especially those that support the production and assembly of the narrowbody CFM LEAP engine, where deliveries are expected to increase by 15% to 20% this year. The company’s investments are also scaling the production of innovative parts made from new materials and advanced manufacturing processes that provide engines with more range, power, and efficiency.

City Support Helps 111-year-Old Green Bay Company with $20M Expansion (Green Bay Press Gazette) The city of Green Bay will purchase almost 12 acres of riverfront property as part of an agreement to help a 111-year-old local manufacturer expand and relocate to an east-side industrial park. W.E. Hoban Company, owner of Green Bay Drop Forge, will construct a $20 million factory. City officials called the agreement a win-win that will retain a locally owned company, enable it to modernize operations and expand capabilities, and net the city almost 12 acres of land on the western shore of the Fox River for future redevelopment. City staff reports indicate the new factory will have space for about 115 to 130 employees. The city will reimburse 95% of the new property taxes generated from 2027 to 2031 with the percentage slowly declining to 75% of the taxes generated by 2040, shortly before the TIF district is scheduled to close in 2042.

TS Conductor Selects South Carolina for Second U.S Manufacturing Facility (Office of the Governor SC) TS Conductor, a manufacturer of next-generation advanced conductors, announced it selects Jasper County, South Carolina to establish the company’s first operation in the Palmetto State, and second U.S. manufacturing facility. The company’s $134 million investment will create 462 new jobs. TS Conductor specializes in advanced conductor technology that enables utilities to double or triple transmission capacity while cutting costs for customers. This patented technology is critical for expanding and modernizing the power grid to meet growing demand from data centers and domestic manufacturing. The company currently operates a production facility in Southern California. The Coordinating Council for Economic Development approved job development credits related to the project. The council also awarded a $5.11 million Closing Fund grant to Jasper County to assist with the costs of site preparation and building construction.

Three Business Expansions Create 210 New Jobs in Michigan (MEDC) Michigan announced three business expansion projects that will help create 210 new jobs and result in over $56 million in capital investment in Oakland, Eaton, and Muskegon Counties. AJG Aerospace provides products for the space, defense and commercial airline industries and has announced their plans to expand their manufacturing capabilities and house their new corporate headquarters in the Township of Independence, Oakland County. Midwest Press and Automation is expanding their footprint in Delta Township, Eaton County to meet growing customer demand. Finally, Forming Technologies, a Muskegon-based thermoformed products manufacturer, is expanding their facility in Muskegon’s Port City Industrial Park to accommodate new business. These investments help strengthen Michigan manufacturing and investing in advanced manufacturing in local communities.

The State Economic Development Executives (SEDE) Network engages in regular events throughout the year. State Economic Development.org lists these activities and offers an interactive forum for discussion among peers. The SEDE Steering Committee includes: Sandra Watson (AZ), Chair; Mike Graney (WV), Vice-Chair; Clint O’Neal (AR); Kurt Foreman (DE); Kevin McKinnon (MN); Michelle Hataway (MO); K.C. Belitz (NE); Hope Knight (NY); Christopher Chung (NC); Andrew Deye (OH); Sophorn Cheang (OR); Adriana Cruz (TX).

Allison Ulaky of the Center for Regional Economic Competitiveness (CREC) led the development of this Bulletin; for questions on the content in this Bulletin or for information on the SEDE Network contact Bob Isaacson, CREC Senior Vice President.

State Economic Development Bulletin – Issue 79, March 2025

HEADLINES

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