All articles tagged with #economic revitalization
Gary, Indiana, once a thriving steel city, is now grappling with urban decay and population decline. Efforts to revitalize the city include infrastructure investment, demolition of old buildings, and plans to diversify the economy beyond steel. Challenges include political isolation and a lack of state funding. Residents and officials are hopeful for a renewal, aiming to make Gary a more appealing place to live and do business.
Gary, Indiana, once a thriving industrial city known for U.S. Steel, is now facing economic decline with abandoned buildings and a dwindling population. The new mayor aims to attract new businesses and residents to revitalize the city beyond its steel industry roots, leveraging its strategic location and nearby attractions.
Oregon Gov. Tina Kotek has unveiled a set of recommendations to revive downtown Portland, which is currently facing economic decline, drug use, and public safety issues. The recommendations include a multi-year moratorium on new taxes, declaring a "fentanyl emergency," and removing plywood and fencing from downtown properties. The task force, convened by Gov. Kotek in collaboration with the Oregon Business Council, aims to prioritize these initiatives in the coming year.
The former Bethlehem Steel mill, once the largest steel producer in the world, is being repurposed by US Wind to manufacture turbines for generating wind power. The mill, which closed permanently in 2012, will now house Sparrows Point Steel, a manufacturing plant producing components for wind farm projects. This move towards clean energy is beneficial for Maryland residents, as wind power is clean and affordable. Additionally, the revival of the mill will bring jobs and boost the local economy, while the cleanup of the site is positive for the environment.
Tulsa Remote, a program designed to attract remote workers to Tulsa, Oklahoma, by providing a $10,000 financial incentive, has been successful in revitalizing the local economy. The program has received a surge in applications during the pandemic, with 60,000 applications this year compared to 10,000 in its first year in 2019. The average age of participants is 34, with an average salary above $100,000. An economic impact analysis found that the program has generated millions in new local earnings and brought hundreds of new jobs to Tulsa. The program's community-building approach has also contributed to its success, with a high retention rate of 76% among participants who completed their program year.
North Korea has shown signs of cracking open its sealed borders by sending a large group of taekwondo athletes and officials through Beijing to an international competition in Kazakhstan, marking the first significant movement since the start of the COVID-19 pandemic. The country's limited air connections and international travel came to a halt when it closed its borders to prevent the spread of the virus. The resumption of travel coincides with South Korea's spy agency reporting that North Korea is preparing to gradually reopen its border to revitalize its struggling economy, which has experienced a significant decline in recent years. Meanwhile, the UN rights chief highlighted the increasing repression and desperation among North Korean citizens, with reports of starvation as the economic situation worsens.
President Joe Biden's climate law, the Inflation Reduction Act, has led to a surge in clean energy spending across the United States, particularly in GOP-held districts. While some communities welcome the federal tax incentives aimed at accelerating renewable energy development and electric vehicle deployment, others view the law as a means of benefiting Chinese businesses and expanding their government's influence. The law's benefits are disproportionately benefiting conservative areas, potentially influencing voter perceptions of Biden as he seeks reelection. The law has sparked controversy in places like Michigan, where a battery manufacturing facility has faced opposition due to concerns over Chinese ties, and in Oklahoma, where a solar cell and panel manufacturing facility has drawn mixed reactions. In New York, the law is offering hope for an industrial reboot in the Hudson Valley, with a Canadian company planning to make batteries for electric vehicles and electric grids.
The Jacksonville Jaguars have released plans for a futuristic stadium remodel that could cost up to $2 billion, with possibly half of that coming from taxpayers. The changes would impact downtown and the Eastside of the city. The team president said the cost for the stadium remodel would be in the range of $1.3 to $1.4 billion, significantly less than building a new stadium. The plans call for a complete makeover, including a tropical Floridian park, a raised concourse, and a state-of-the-art shade canopy. Mayor-elect Donna Deegan will bring her own negotiating team to the table.