Some of the shortcomings in local news coverage can come from the lack of know-how in regards to economic reporting. You might find this column from the Northwestern Local News Initiative motivating.
“Today, as always, the typical journalist is a verbal person, averse to business and finance and economic intelligence. The political squabble, the racial conflict, the social justice issue, they’re more obvious, more manageable. Yet most of them have economic roots or ramifications. Economic (read, money) stories often require more insight, more digging, more time. Consequently they’re the kind of story most likely to be overlooked by a local news organization.” Excerpt from column by Joe Mathewson in the Northwestern Local News Initiative.