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The US manufacturing sector added 16,000 jobs in August 2024, reflecting steady employment growth amid ongoing industrial production gains. Key sub-sectors such as machinery and fabricated metal products contributed significantly to the increase.
Stellantis increases its total investment at the Belvidere Assembly Plant to over $800 million to produce the next-generation Jeep Cherokee, marking the first U.S.-built vehicle on the new STLA One platform with production beginning in 2029.
Pfizer has granted Medicus Pharma co-development rights to ADC PF-08046031, signaling a positive step in pharmaceutical collaboration. Meanwhile, Novartis’ decision to consolidate its biologics labs in Basel may impact around 130 jobs by 2027, highlighting the evolving landscape of the pharmaceutical industry.
The Federal-Aid Highway Act of 1956 kickstarted the Interstate Highway System, a monumental public works project in U.S. history. With the system now 70 years old, there is growing recognition of the need for upgrades to benefit American industry, infrastructure, and transportation networks.
CHS and OCP are teaming up to build the first U.S. phosphate fertilizer plant since 1984 in Louisiana. This new facility is expected to reduce reliance on imported fertilizer by 60% and increase domestic production capacity, potentially impacting American agriculture and supply chains.
Hyundai is considering expanding the production capacity of its Georgia Metaplant from 500,000 vehicles annually to between 700,000 and 800,000 by 2028 as part of a broader $26 billion U.S. investment.
Ivanhoe Electric has received a preliminary project letter from the US Export-Import Bank for potential debt financing of $1.1 billion to develop its Santa Cruz copper project in Arizona, increasing from an earlier $825 million indication. Final approval is expected by spring 2027.
Cleveland-Cliffs, a US-based company, plans to invest $1 billion in optimizing its Middletown Works plant in Ohio, with half of the funding coming from a $500 million support from the Department of Energy. This significant investment underscores a commitment to enhancing American industry and infrastructure.
Nearly 4,500 IAM Union Local S6 members at Bath Iron Works in Maine have ratified a new collective bargaining agreement that includes significant wage increases and stronger workplace protections. The historic five-year deal, effective until 2031, demonstrates positive progress for American workers in the aerospace industry.
The Energy Information Administration forecasts that U.S. natural gas output will hit a new high of 122.5 billion cubic feet per day this year, with significant support from increased drilling in the Permian Basin and growth in the Haynesville region. This development is important for American energy production and the overall industry landscape.
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