Business

Wood-pellet domes almost complete at Port of Wilmington

April 11, 2016

(StarNews, Wilmington)

Two white, 170-foot-tall domes at Port of Wilmington are nearly ready for use by Enviva, a Maryland-based company that will store wood pellets inside them for shipment to Europe. The pellets are produced at a plant in Sampson County. The company expects to begin shipping by the end of the third quarter.

Construction values rise in Cabarrus County

April 11, 2016

(Independent Tribune, Concord)

Cabarrus County issued 752 building permits valued at $134.5 million, higher than the $123.1 million for the same period a year ago and more than double the $57.6 million in 2014. Single-family construction remained strong, with permits issued for 351 homes worth $51.4 million.

Hanesbrands to buy Champion Europe

April 8, 2016

(Winston-Salem Journal)

Hanesbrands will buy Champion Europe in an all-cash deal valued at $228 million, a move that will allow the Winston-Salem-based company to better promote the athletic apparel brand globally. Hanesbrands recently paid $30 million to reacquire the rights to Champion in Japan. The company predicts global Champion sales will reach $2 billion by 2021 or 2022.

Belk signs 15-year lease in Charlotte

April 8, 2016

(The Charlotte Observer)

The Charlotte-based department-store chain is consolidating its corporate headquarters in a 475,000-square-foot space it partially occupies on Tyvola Road in south Charlotte. Belk, which was acquired in December by private-equity firm Sycamore Partners for $3 billion, has about 1,400 employees at its corporate office.

Wells Fargo to offer paid parental leave

April 8, 2016

(The Charlotte Observer)

Beginning June 1, the San Francisco-based bank will provide up to 16 weeks for primary caregivers and up to four weeks for nonprimary caregivers following a birth or adoption. Competitors Bank of America and JPMorgan Chase also introduced paid parental leave policies earlier this year. Wells Fargo employs more than 23,000 in the Charlotte area.

Red Hat CEO: $5B in revenue in 5 years

April 8, 2016

(WRAL TechWire)

Open-source software company Red Hat last year reached $2 billion in annual revenue for the first time, and CEO Jim Whitehurst says he'd like the company to reach $5 billion in five years, a goal that would mean doubling its workforce. Red Hat employs about 1,400 people at its Raleigh headquarters.

HGTV house in Asheville is on the market

April 8, 2016

(Asheville Citizen-Times)

The HGTV Urban Oasis house in West Asheville is for sale. The price tag for the 1,300-square-foot, two-bedroom home: $490,000. That's more than double the sales price for a similar size home in the area, but realtor Mike Figura says the price is higher because the home is fully furnished, and because it's a "TV star." Washington resident Crystal Harriman won the home in a sweepstakes last year but decided not to keep it.

Levine donates $25M to cancer center in Charlotte

April 7, 2016

(The Charlotte Observer)

The Leon Levine Foundation has committed $25 million to help Carolinas HealthCare System expand its Levine Cancer Center, the largest gift in the health system's history. The foundation, named for the founder of Family Dollar Stores, gave $20 million to establish the center in 2010. CHS announced the $150 million expansion last month.

Foundation pushing forward with megasite plans

April 7, 2016

(News & Record, Greensboro)

Duke Energy will begin engineering studies to bring power to the Greensboro-Randolph Megasite, and Charlotte-based preconstruction firm Zapata-LJB will conduct an environment impact study of the interchange design. The North Carolina Railroad Co. plans to close this week on 800 acres it is buying to complete the 1,400-acre site, which area officials hope will lure an automaker.

3 former NewBridge execs to open Southern Bank office in Wilmington

April 7, 2016

(Greater Wilmington Business Journal)

Paul McCombie, Leon Pruzan and Lenny Smith leased space for a loan production office in Wilmington. All three worked for Greensboro-based NewBridge Bank in the Wilmington market. Southern Bank is based in Mount Olive and has more than 60 office and about $2.6 billion in assets. In February, Southern acquired Heritage Bankshares of Norfolk, Va.