Latest news with #Youngkin
Yahoo
an hour ago
- Business
- Yahoo
AstraZeneca investing $50B in US, Trump calls it an ‘honor'
British-Swedish pharmaceutical company AstraZeneca announced a $50 billion investment in the U.S. this week, with the Trump administration claiming some credit due to its tariff policy and President Trump calling it an 'honor.' The company announced the investment on Monday, saying it would invest $50 billion into the country by 2030 to build on 'America's global leadership in medicines manufacturing and R&D.' The investment includes a 'drug substance facility' in Virginia, which AstraZeneca says will be its largest single manufacturing investment in the world. Virginia Gov. Glenn Youngkin (R) thanked AstraZeneca for its investment and the jobs that it's expected to generate. 'Advanced manufacturing is at the heart of Virginia's dynamic economy, so I am thrilled that AstraZeneca, one of the world's leading pharmaceutical companies, plans to make their largest global manufacturing investment here in the Commonwealth,' Youngkin said. Additional funds will go towards the company's existing or planned facilities in California, Indiana, Maryland, Massachusetts and Texas. AstraZeneca estimated these investments will help it reach a total revenue of $80 billion by 2030. 'For decades Americans have been reliant on foreign supply of key pharmaceutical products. President Trump and our nation's new tariff policies are focused on ending this structural weakness,' Commerce Secretary Howard Lutnick said in a statement. 'We are proud that AstraZeneca has made the decision to bring substantial pharmaceutical production to our shores. This historic investment is bringing tens of thousands of jobs to the US and will ensure medicine sold in our country is produced right here.' Trump noted the investment at the start of a meeting with Philippines President Ferdinand Marcos Jr. on Tuesday. 'We have a big announcement, AstraZeneca, the big drug company, is going to spend $50 billion — just announced — $50 billion in the United States in order to build various places all over the country big manufacturing plants, pharmaceutical plants all over the country,' Trump said. 'So, that's an honor. And you said they did that because of the election and because of the fact the tariffs are in place. So they are building their facilities in New York. 50 billion, that's a big investment. It's going to be a very good investment. I have no doubt about it. So, thank you so AstraZeneca.' It wasn't immediately clear what New York investment Trump was referring to. AstraZeneca currently has an office located in New York. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20 hours ago
- Politics
- Yahoo
Virginia GOP lieutenant governor candidate launches a Substack
Republican Virginia lieutenant governor candidate John Reid launched a Substack on Tuesday in an effort to engage directly with supporters. The Hill was the first outlet to report on the Republican's Substack, which is called The Reid Revolution and will publish on a weekly basis. Reid is one of the first Republican candidates to launch a Substack. The launch comes as other politicians, including a number of potential presidential candidates, have explored new forms of media like podcasts to reach voters. In his first post on the platform, which went up early Tuesday morning, Reid noted that his Substack is not a campaign newsletter. 'It's a direct line from me to you that is unfiltered by media spin, untethered from political talking points, and free from the gatekeepers who've told candidates like me to stay in our lane, water it down, or wait our turn,' Reid wrote. 'I'm not interested in playing by their rules.' In a second post obtained by The Hill, which is slated to be published on Reid's Substack later on Tuesday, Reid compares his policies to his opponent state Sen. Ghazala Hashmi (D) and Democratic gubernatorial nominee Abigail Spanberger. 'Ghazala Hashmi and Abigail Spanberger support a vision where the government always knows best. I don't. I trust families,' Reid writes. 'This campaign isn't just about childcare or safety or schools. It's about freedom. It's about who makes the decisions: you, or them.' The Republican candidate previously hosted a talk show on WRVA for eight years. Reid found himself in the center of a political firestorm in April after Gov. Glenn Youngkin (R ) called for Reid, who is openly gay, to suspend his campaign after a report that Republican researchers came across sexually explicit photos on Tumblr posted by an account with the same username Reid uses on other sites. Reid has adamantly denied the allegations and went as far as to accuse Youngkin's team of extortion. Reid, who is openly gay, has also said the reason he is being targeted is because of his sexuality. A lawyer representing Reid sent a cease and desist letter to Matt Moran, then the executive director of Youngkin's Spirit of Virginia PAC, who later stepped down from his post. Virginia Republicans were quick to come to Reid's defense in the face of the controversy, calling Youngkin's move 'an unforced error' and laying blame on the Spirit of Virginia PAC. Last month, Youngkin acknowledged Reid as the party's lieutenant gubernatorial nominee, telling reporters, 'He has clearly made up his mind that he's going to stay in.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
a day ago
- Politics
- The Hill
Virginia GOP lieutenant governor candidate launches a Substack
Republican Virginia lieutenant governor candidate John Reid launched a Substack on Tuesday in an effort to engage directly with supporters. The Hill was the first outlet to report on the Republican's Substack, which is called The Reid Revolution and will publish on a weekly basis. Reid is one of the first Republican candidates to launch a Substack. The launch comes as other politicians, including a number of potential presidential candidates, have explored new forms of media like podcasts to reach voters. In his first post on the platform, which went up early Tuesday morning, Reid noted that his Substack is not a campaign newsletter. 'It's a direct line from me to you that is unfiltered by media spin, untethered from political talking points, and free from the gatekeepers who've told candidates like me to stay in our lane, water it down, or wait our turn,' Reid wrote. 'I'm not interested in playing by their rules.' In a second post obtained by The Hill, which is slated to be published on Reid's Substack later on Tuesday, Reid compares his policies to his opponent state Sen. Ghazala Hashmi (D) and Democratic gubernatorial nominee Abigail Spanberger. 'Ghazala Hashmi and Abigail Spanberger support a vision where the government always knows best. I don't. I trust families,' Reid writes. 'This campaign isn't just about childcare or safety or schools. It's about freedom. It's about who makes the decisions: you, or them.' The Republican candidate previously hosted a talk show on WRVA for eight years. Reid found himself in the center of a political firestorm in April after Gov. Glenn Youngkin (R ) called for Reid, who is openly gay, to suspend his campaign after a report that Republican researchers came across sexually explicit photos on Tumblr posted by an account with the same username Reid uses on other sites. Reid has adamantly denied the allegations and went as far as to accuse Youngkin's team of extortion. Reid, who is openly gay, has also said the reason he is being targeted is because of his sexuality. A lawyer representing Reid sent a cease and desist letter to Matt Moran, then the executive director of Youngkin's Spirit of Virginia PAC, who later stepped down from his post. Virginia Republicans were quick to come to Reid's defense in the face of the controversy, calling Youngkin's move 'an unforced error' and laying blame on the Spirit of Virginia PAC. Last month, Youngkin acknowledged Reid as the party's lieutenant gubernatorial nominee, telling reporters, 'He has clearly made up his mind that he's going to stay in.'
Axios
a day ago
- Business
- Axios
Northern Virginia leaders warn federal layoffs threaten local economy
Some Virginia leaders are ringing the alarm over the effect the Trump administration's federal cuts are having on its local workforce and economy — especially in Northern Virginia. Why it matters: Virginia's unemployment rate has risen for six consecutive months — hitting 3.5% in June. The big picture: Virginia was the only state in the nation that saw a "statistically significant" increase in unemployment last month, according to the latest U.S. Bureau of Labor Statistics data. Virginia also recently dropped to No. 4 on CNBC's yearly Top State for Business rankings — a hit for a state that's come in at No. 1 a record six times. The impact of federal job cuts on the economy was cited as the driving factor. Zoom in: NoVa, which historically has been home to a large concentration of federal jobs, saw the biggest employment decline out of Virginia's metro areas from May to June, per a new Virginia Works report. The metro saw a loss of 4,700 jobs in that period. Fairfax County has seen the number of its unemployed residents jump 34.7% in the last year, reports the Richmond Times-Dispatch. Meanwhile, 80% of Northern Virginia business leaders are concerned about the impact DOGE's cuts are having on the regional economy, per a recent Northern Virginia Chamber of Commerce survey. Federal layoffs (47%) and inflation (47%) were the top two factors affecting regional business growth, per surveyed leaders. Yes, but: Overall, NoVa business leaders are feeling more optimistic about the local economy than they were this spring, found the survey. Zoom out: An estimated 11,100 federal jobs have been cut in Virginia this year, per a recent report from the University of Virginia's Weldon Cooper Center for Public Service. 10,500 more positions could be threatened in the near future. Virginia employees at the Defense, Agriculture and Treasury departments have already seen some of the biggest cuts, and it's projected Virginia could see more employee reductions at the Defense and Veteran Affairs departments, per the report. And contracting jobs are being impacted, too: Mitre Corp. and Goldschmitt & Associates — both based in Northern Virginia — have reported some of the highest numbers of contracting layoffs in the state, per the report. What they're saying: Virginia Dems are putting the spotlight on the issue ahead of an election year that will determine which side of the aisle controls the state's government. "The Trump administration's approach is not working for Virginia," Democratic gubernatorial candidate Abigail Spanberger wrote last week in a Fox News op-ed criticizing Gov. Glenn Youngkin's response to Virginia job losses. And Fairfax County Board Chair Jeff McKay and state Senate Majority Leader Scott Surovell (D-Fairfax) released a statement last week criticizing President Trump's, Youngkin's and state Republicans' policies for threatening "the decades of leadership that has made Fairfax County the economic engine of Virginia." The other side: Though Youngkin recently announced in a statement that Virginia's nonfarm employment decreased by 8,400 jobs in June due to federal cuts, he pointed out that, overall, jobs are up by 35,600 since June 2024. "Virginia's financial and economic strength continue to provide the fuel for new opportunities and growth," Youngkin said in the statement.
Yahoo
4 days ago
- Business
- Yahoo
Voters still aren't buying what Virginia Republicans are selling
Lt. Gov. Winsome Earle-Sears hoped winning the Republican nomination for governor of Virginia last month would help her party move past a primary season defined by lurid sex scandals and a boiling MAGA turf war. Instead, Earle-Sears is wrapping up her first month as nominee with a major campaign shake-up — and the GOP brand is facing an unprecedented losing streak. On Thursday, Earle-Sears asked her campaign manager, Will Archer, to step aside. A pastor by trade, Archer had never managed a campaign or participated in politics before. When campaign finance filings published this week showed Democrat Abigail Spanberger outraising Earle-Sears by 2-to-1, Republican leaders finally convinced their candidate it was time to part with her inexperienced staffer. Earle-Sears' campaign reshuffle comes at a moment when Virginia's Republicans are trying, and failing, to convince voters they're still a functional party. That's proving a lot harder than Republican Virginia Gov. Glenn Youngkin and Earle-Sears planned, because the state GOP just can't seem to stop embarrassing itself in public. Some fumbles have been especially striking. After nearly a decade topping the ranks of CNBC's Top States for Business, Virginia just lost its coveted first place spot to neighboring North Carolina. It's a ranking Youngkin takes seriously, to the point that he made attracting new businesses and defending the state's ranking a key element of his 2021 campaign strategy. Safeguarding Virginia's economic miracle was supposed to be Youngkin's defining legacy. Good luck selling Virginians on the GOP's know-how today, when local magazines publish discount sections for laid-off federal workers and rural communities across the state brace for sweeping hospital and clinic closures. Far from being the governor who brightened Virginia's economic flame, Youngkin is now permanently tarred in voters' minds by his defense of President Donald Trump's unpopular federal job cuts. It's a reputation toxic enough to drag down his entire party. Republicans are starting to see voters' skepticism in their dwindling pool of political contributions. Spanberger's $10.7 million in donations this quarter is nearly double Earle-Sears' own $5.9 million haul. Those fundraising shortfalls cost Archer his job this week, but swapping out campaign staff won't suddenly make Republican policies popular. And the numbers get even worse the deeper you go. The campaign for lieutenant governor is also proving to be an absolute disaster for the GOP. In that race, scandal-plagued Republican nominee John Reid has seemingly given up fundraising at all. Reid raised only about $440,000 last quarter and only has $163,082 on hand, compared to Democratic nominee state Sen. Ghazala Hashmi's $3.4 million. Hashmi also has nearly 10 times as much cash on hand as Reid. At a time in the campaign when Republicans should be putting Democrats on the defensive, the GOP's top two candidates are scrambling to keep the lights on. Virginians are getting a free preview of the mismanagement, disorder and chaos that would dominate an Earle-Sears administration. Virginia's Democrats would like to make sure every voter gets a good, long look at Republicans' political circus, and they've just got a huge assist from the Democratic National Committee. On July 15, DNC Chairman Ken Martin announced a $1.5 million contribution to Democratic Party of Virginia, a notable sum for the national party to invest in an off-year state race and a sign of confidence in the party's chances in November. That money will build campaign infrastructure and hire staff in key legislative districts, ultimately allowing Democrats to reach more voters more effectively. Republicans' problems are multiplied by the fact that Democrats are competing in every House of Delegates district this year, forcing cash-strapped Republicans to spend more money on more races for longer than anyone budgeted. At their current fundraising levels, GOP officials will soon need to make tough choices about where to cut back — just as the DNC's $1.5 million cash infusion hits Democratic campaign accounts. While Democrats prepare to embark on a summer spending spree, Earle-Sears' campaign is busy fending off accusations from a top MAGA official that her campaign is a 'clown car' skidding towards disaster. Spanberger and Democrats have leapt into the lead by making this year's election a referendum on competence. Virginia's dysfunctional Republicans don't stand a chance. This article was originally published on
