EDG News

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Amazon plans to extend next-day and same-day deliveries of online orders to more than 4,000 small and rural U.S. communities by year’s end. The e-commerce giant said this is part of a previously announced $4 billion investment to increase its fast deliveries to regions where those are not currently available.

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Biotech job reductions continue to mount in 2025, with Genentech and Vertex Pharmaceuticals announcing cuts even as several global life science companies plan significant investments in new U.S. manufacturing plants.

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May’s U.S. spending on residential and nonresidential construction decreased 0.3% from the prior month and dropped 3.5% from a year earlier, as project developers remained cautious at a time of elevated costs for materials and financing.

Results tempered by modest rise in new permits, according to latest data

U.S. multifamily construction starts dropped sharply in May as the industry copes with economic and tariff uncertainty, as well as elevated interest rates. Even so, permits rose, offering the sector what one trade group considers a positive sign.

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Consumer sentiment increased for the first time in six months in a closely watched national survey by the University of Michigan as concerns eased over the effects of recently imposed and pending tariffs on goods imported from multiple countries.

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May’s U.S. personal spending declined a slight 0.1% from the prior month as household income slid 0.4%, though the latest Commerce Department numbers showed consumer inflation continuing to edge lower on an annual basis.

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U.S. unit sales of existing single-family homes rose by a slight 0.8% from the prior month in May, as the median sales price increased 1.3% from a year earlier to $422,800, the National Association of Realtors reported Monday.

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May’s pace of new construction starts for U.S. residential projects declined 9.8% from the prior month and fell 4.6% from a year earlier, pulled lower by multifamily construction, according to the latest figures from the Commerce Department and Department of Housing and Urban Development.

NorthPoint Development buys 11 warehouses in Elgin, Illinois

A Missouri investor has paid $270 million for a portfolio of warehouses west of Chicago, a massive deal that followed a high volume of sales in the first quarter of this year.

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The U.S. annual inflation rate was 2.4% in May, rising slightly from 2.3% in April, as lingering trade tariff matters continued to have limited effects so far on overall consumer prices. The Labor Department Wednesday said the shelter category that includes rents and other housing expenses continued to have the biggest impact on costs.

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Consumers now have lower expectations about the future direction of inflation, after weeks of concerns about the effects of imposed and pending trade tariffs, according to the latest national survey by the Federal Reserve Bank of New York.

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Continued challenges facing the housing economy spurred May’s U.S. sales of new single-family houses to fall 13.7% from the prior month and decline 6.3% from a year earlier, according to the latest data released Wednesday by the Commerce Department and Department of Housing and Urban Development.

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Big-city office traffic staged a post-Memorial Day rebound in the week ended June 4, with 10 tracked regions averaging 54.3% of their pre-pandemic attendance in the latest tracking by Kastle Systems. That was up from 51% in the prior week and came close to the peak 54.5% posted in the week ended March 5.

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May’s single-family homes under contract to be sold, with deals not yet closed, increased 1.8% from the prior month while rising 1.1% from a year earlier, according to the National Association of Realtors. Pending sales provided a slightly upbeat indicator for future transactions when U.S. housing sales and development remain sluggish by historical standards.

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U.S. private sector employers posted a drop of 33,000 jobs in June from the prior month as hiring showed continued signs of slowing, according to the latest monthly tracking by payroll services provider ADP and Stanford University’s Digital Economy Lab.

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Lower-than-expected effects from trade tariffs have spurred some economists to downshift chances of a U.S. recession this year, though analysts are on guard for potential inflationary fallout from higher Middle East tensions on fuel and other costs.

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U.S. restaurant performance improved for the third straight month in May, though operators remain concerned about future consumer spending with the full effects of trade tariffs still to be seen, according to the National Restaurant Association’s latest survey. The industry has dealt with multiple store closings, job cuts and bankruptcy filings during the past year.

Along with KDOT receiving top honors for Longmeadow Parkway from APWA Chicago Metro Chapter, Thomas Rickert, KDOT’s Deputy Director and Chief of Staff, was recently awarded the 2025 APWA Professional Manager of the Year –Administrative Management for his service to Kane County and the broader Chicagoland metro area as evidenced by 37 years of leadership for Kane County, the Kane Kendall Council of Mayors as Executive Director, APWA, and CMAP serving on regional committees.

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President Donald Trump’s administration has directed immigration officials to pause raids on farms, hotels, restaurants and meatpacking plants, after leaders of those industries warned of worker shortages caused by roundups and deportations of noncitizens.