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Plant Closure Sparks Incentives Debate in MA

Evergreen Solar's recent decision to close its Devens, MA solar panel manufacturing plant and move production to China after receiving more than $50 million in state aid has sparked calls from Massachusetts legislators for changes in the state's economic development incentives program. According to a report in the Worcester Business Journal, State Rep. Harold Naughton of Clinton, MA said this week that stat ...

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U.S. Plans $53-Billion High-Speed Rail Network

The Obama administration is proposing to spend $53 billion over the next six years to help promote the construction of a national high-speed, intercity passenger rail network, Vice President Joe Biden announced this week. The proposal represents a major expansion of the $10.5 billion already spent on high-speed rail expansion since President Obama entered office, including $8 billion in the 2009 economic st ...

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Charging into the Future

A new era has dawned on the streets and highways of the United States. With the arrival of two all-electric vehicles, Chevy's Volt and Nissan's Leaf, the long-awaited conversion from fossil-fueled cars has begun in earnest. Industry analysts are predicting that as many as two million electric cars may be on the road in the U.S. by 2013, with almost a dozen automotive manufacturers expected to introduce plug ...

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Bradken Expands Foundry in Amite, LA

Gov. Bobby Jindal this week joined Bradken Engineered Products division President and COO Tom Armstrong, Greater New Orleans Inc. President and CEO Michael Hecht, Tangipahoa Economic Development Foundation Executive Director Bob Basford and other officials to announce that Bradken is expanding its foundry in Amite. The project represents a capital investment of $18.1 million, and will retain 179 jobs and cr ...

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Amtrak Plans $13.5-Billion Hudson Tunnel

Amtrak has announced plans for a $13.5-billion rail tunnel project to connect New York City and New Jersey. The rail giant said it would spend $50 million on preliminary engineering and design work on two tunnels under the Hudson River. New York and New Jersey state governments, as well as local authorities, could contribute further funds, Amtrak said. The project is expected to be completed by 2020. A simi ...

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NHK of America Suspension Components Grows in KY

NHK of America Suspension Components (NASCO) will invest more than $10 million, receive $2.5 million in tax incentives to upgrade its Bowling Green facility and maintain 206 employees. “NASCO’s decision to make additional investments in its Bowling Green facility is a strong indication of its confidence in the Bowling Green community and its existing workforce,” said Gov. Steve Beshear. “Kentucky is proud t ...

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Houston, TX approves $60-Million Soccer Stadium

Groundbreaking is planned Saturday for a $60 million stadium for the Houston Dynamo soccer team after city leaders approved an economic development tax zone deal. The Houston City Council on Wednesday approved an ordinance for development, construction, operation and maintenance of the sports and entertainment facility. The Harris County Houston Sports Authority in December approved an agreement to build th ...

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Memphis, Shelby County Consolidate ED Groups

The Memphis City Council and Shelby County Commission have approved a new structure for economic development for Memphis and Shelby County, Business Journal reports. The Economic Development and Growth Engine, or EDGE, is a newly chartered industrial development board that will eventually consolidate a number of economic development agencies and functions of both governments. Those include the Office of Eco ...

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Pfizer Expanding in Boston, MA Area

Pfizer Inc. has announced will add 350 jobs in the Boston area and look for a new site to house a pair of research operations it will move from southeastern Connecticut, the Boston Globe reports. The pharmaceutical giant also unveiled a restructuring plan that will cut global R&D by $1.5 billion, eliminating thousands of jobs around the world. However, despite these cutbacks, Pfizer will grow in Massach ...

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Maryland Streamlines Development Process

Gov. Martin O’Malley has launched “Business in Maryland Made Easy,” an economic development initiative and part of the governor's ongoing efforts to improve the conditions that allow businesses to grow and create jobs. “Maryland Made Easy”includes specific strategies for state agencies to help improve Maryland’s business environment by streamlining processes, simplifying regulations and improving communicat ...

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