Business

Cary considers plans for $51M mixed-use project

April 28, 2016

(The News & Observer, Raleigh)

Northwoods Associates would invest $46 million and the Town of Cary would pitch in $5 million to build a 55,000- to 75,000-square-foot office and retail building,188 apartments and a parking deck in downtown Cary. The historic Ivey-Ellington House would need to be moved to make way for the project. 

BB&T communications chief to retire

April 28, 2016

(Winston-Salem Journal)

Cynthia Williams, chief corporate communications officer since 2009, will retire June 30. Williams, 63, was part of the Winston-Salem-based bank's executive management team. She joined BB&T in 2003 through its acquisition of First Virginia Bank.

Drugmaker creating 275 jobs in Durham

April 27, 2016

(The News & Observer, Raleigh)

Aurobindo Pharma will invest $31.7 million and create 275 jobs in a Durham research and development facility. The India-based company makes semi-synthetic penicillins and other generic drugs. Aurobindo could receive up to $3.8 million in state incentives if it meets hiring goals.

NC teacher pay fell 13% in the last 15 years

April 27, 2016

(WRAL.com)

When adjusted for inflation, teacher pay in North Carolina has dropped more than 13% since 1999, according to the National Center for Education Statistics. The average teacher salary in the U.S. dropped 1.8% during that time. In 2013-14, North Carolina teachers were ranked 47th in the nation based on salary, earning nearly $12,000 less than the national average.

Loss of conference will cost Wilmington nearly $1 million

April 27, 2016

(Greater Wilmington Business Journal)

The American Institute of Architects' decision to move a regional conference from Wilmington to either Georgia or South Carolina over HB2 will cost the Port City about $1 million, according to estimates. The event was expected to bring in between 1,000 and 1,200 visitors.

Ally Financial misses earnings expectations

April 27, 2016

(The Charlotte Observer)

Ally Financial reported first quarter profit of $250 million, down from $576 million for the same period a year ago when the Detroit-based lender sold its Chinese auto-finance joint venture. Adjusted earnings of 52 cents a share fell short of analysts' projections of 54 cents per share. Ally CEO Jeffrey Brown is based in Charlotte, one of the company's largest employment hubs with about 800 workers.

Millennials surpass baby boomers as biggest generation

April 27, 2016

(The Washington Post)

There are now 75.4 million millennials in the United States, compared with 74.9 million baby boomers, according to a Pew Research Center analysis of census data. Read about how some millennials in North Carolina are finding success as entrepreneurs.

Asheville brewer adding 2nd location

April 27, 2016

(Asheville Citizen-Times)

Asheville's Wedge Brewing will open a second location in an 8,000-square-foot building in the city's River Arts District. Construction is scheduled to begin in a few months and should be complete by the end of 2016.

$70M mixed-use project approved in Rock Hill, SC

April 27, 2016

(The Charlotte Observer)

The Rock Hill City Council on Monday approved a $70 million development on the Catawba River that could include 300 apartments and condominiums and 235,000 square feet of commercial space. Premiere Design Solutions, based in Rock Hill, is the developer. Rock Hill is about 26 miles southwest of downtown Charlotte.

Regulators approve $55B Charter-Time Warner deal

April 26, 2016

(The Charlotte Observer)

Charter Communications received antitrust approval for its $55 billion bid for Time Warner Cable, which employs more than 3,100 people in the Charlotte area. Stamford, Conn.-based Charter is also buying Syracuse, New York-based Bright House Networks for $10.4 billion. The deals will create the nation's No. 2 cable provider; Comcast will remain No. 1.