EDG News

Kansas City, Chicago, Pittsburgh top cities for growth in asking rents, Apartments.com report finds

Apartment rents across the United States are expected to accelerate at a quicker clip in the second quarter as demand remains solid and the number of units completed continues to slow.

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Economic challenges including uncertainties over trade tariffs could cause a significant pullback later this year in business investment in the U.S. and other countries, according to a report from Oxford Economics. The economic forecasting firm said investment could rebound in early 2026, depending on the duration and effects of current and pending trade tariffs being imposed by the Trump administration.

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Total U.S. construction spending rebounded from recent declines in February, led by single-family homebuilding, according to the latest Commerce Department numbers.

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The latest national surveys showed both consumer and small-business confidence flagging in response to stock market volatility and prospects for higher prices generated by international wrangling over U.S.-imposed trade tariffs.

Private equity deal marks loss for discount giant after decade-long turnaround effort

Discount giant Dollar Tree is offloading Family Dollar at a bargain basement price, roughly $1 billion, after spending about a decade of unsuccessfully trying to turn around the chain and finally searching for a buyer.

Central bank holds borrowing costs at 4.25% to 4.5%

The U.S. Federal Reserve is keeping its benchmark lending rate unchanged as it monitors how escalating trade wars impact the economy and inflation.

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More federal job reductions are expected after the Department of Health and Human Services on Thursday announced it is cutting 10,000 full-time positions across several health agencies

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U.S. employers added a better than expected 228,000 jobs in March, led by healthcare providers, though the national unemployment rate reached 4.2%, up from 4.1% in the prior month. Analysts said the impact on interest rates was yet to be seen as the Federal Reserve gauges other matters including the effects of new tariffs on inflation.

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Residential construction starts posted a significant increase in February, thanks largely to the single-family category, though analysts cautioned that builders are still struggling with elevated material costs and shortages of qualified labor.

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Annual consumer inflation posted at 2.4% in March, down from 2.8% in February, though analysts cautioned that upward price pressures from pending and recently enacted trade tariffs are likely on the way in coming months.

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An inflation index that is preferred by the Federal Reserve in its rate-setting decisions showed annual core inflation, excluding volatile food and energy costs, posting higher than expected at 2.8% in February. The all-items figure in the Commerce Department’s personal consumption expenditures report posted at 2.5%, on par with analyst expectations.

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Stock markets posted significant drops Thursday after President Trump’s announcement of trade tariffs affecting goods imported from about 100 countries, as analysts projected substantial potential long-term effects on the U.S. and global economies.

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The parent of Olive Garden and several other brands has joined other restaurant companies in sticking with their expansion plans this year, despite consumer jitters about trade tariffs and threats of higher inflation.

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Consumer and business uncertainty caused restaurant performance to fall in February, as most operators reported declining same-same stores sales compared with a year earlier in the latest survey by the National Restaurant Association.

Hospitality analysts raise concerns of 'bumpy' 2025 that could cause consumers to reduce travel spend

Market volatility, wavering consumer confidence and overall uncertainty are making it difficult to forecast where the U.S. hotel industry is headed.

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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The Trump administration announced its first steps toward fulfilling a campaign pledge to transfer or lease federal lands to states or local governments for development of affordable housing.

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President Donald Trump on Wednesday announced details of international trade tariffs that have been threatened for several weeks, including some that will impose at least 10% in new fees on nearly all goods coming into the United States.

Sentiment sours as businesses and consumers brace for fallout

With far-reaching tariffs rolling out and additional levies being announced unpredictably, American businesses and consumers are bracing for impact. The broad-based equity market selloff of the past week marked the culmination of months of souring sentiment, which a wide range of surveys confirms.

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Trade tensions between the United States and China escalated this week as President Donald Trump planned to impose an additional 50% tariff on imports on China starting at 12:01 a.m. Eastern Wednesday if it does not withdraw plans for a new 34% tariff on goods coming from the U.S.

Illinois Department of Commerce

Small Business Capital and Infrastructure Grant Program (Notice of Funding Opportunity 2160-2940) Description: “…to businesses owned by socially and economically disadvantaged individuals (SEDI) or very small businesses (VSBs)1 to support small business capital improvement projects. This program will offer small business grants across the state to help eligible businesses achieve sustainable growth, improve efficiency, and create and retain jobs.”