Business

Massive Pender County development could launch soon

April 5, 2016

(StarNews, Wilmington)

Construction could begin in late April on Blake Farm, a 1,300-acre mixed-use development in Pender County. The project will be built in phases and could take 10 years to build out. Plans call for 2,200 residential units and about 50 acres of commercial development, including a YMCA and events center.

McConnell Golf leases Raleigh public course

April 5, 2016

(The News & Observer, Raleigh)

McConnell Golf signed a 10-year lease to operate the Raleigh Golf Association, marking the company's first affiliation with a public golf course. Raleigh-based McConnell owns a dozen private courses in the Carolinas and Tennessee. The 27-hole RGA is the second-oldest course in the Raleigh area. Prices start at $15 for nine holes after 3 p.m. on weekdays.

Xerox cutting 139 Triangle area jobs

April 5, 2016

(The News & Observer, Raleigh)

After announcing in January it was cutting 178 jobs at a Cary call center, Xerox says it is laying off 139 workers at its health care services business in Henderson. Most of the affected employees are pharmacy technicians.

Charlotte's Jeld-Wen could go public in the second quarter

April 5, 2016

(The Charlotte Observer)

Door- and window-maker Jeld-Wen Inc. is planning an initial public offering as early as the second quarter, according to people familiar with the matter. The IPO could raise about $500 million, valuing the company at about $5 billion. Jeld-Wen moved its headquarters from Oregon to Charlotte in 2012.

Another western NC economic recruiter disbands

April 5, 2016

(Asheville Citizen-Times)

The Smoky Mountain Development Corp. is disbanding due to a revenue shortfall. The organization was founded in 1984 and serves 10 counties in western N.C. Executive Director Alan Steinberg says the group's revenue has declined due to fewer businesses in the region obtaining 504 loans, which help small companies buy properties.

BB&T buys National Penn for $1.8B

April 5, 2016

(Winston-Salem Journal)

BB&T has completed its $1.8 billion purchase of National Penn Bancshares, increasing the Winston-Salem-based bank's assets to about $220 billion. It could be the BB&T's last acquisition for a while: Banks face more stringent regulatory requirements when they reach $250 billion in assets. BB&T also closed Friday on a $500 million deal to buy wholesale insurance broker Swett & Crawford.

Lincoln Harris closes on downtown Charlotte property for $11M

April 5, 2016

(The Charlotte Observer)

Lincoln Harris closed on the first part of the Charlotte Observer's downtown site, which includes a parking deck, loading dock and warehouse. The Charlotte real-estate firm is scheduled to close on the remainder of the 9.4-acre property by May 2. The Observer is moving to offices in the NASCAR Plaza tower formerly occupied by Chiquita.

Study: Offshore wind farms could impact vacation rentals

April 5, 2016

(The News & Observer, Raleigh)

A study by N.C. State University shows that building a wind farm off the North Carolina coast could harm tourism and vacation rentals if the turbines were visible.

Cable manufacturer to close Wilson County plant

April 4, 2016

(The Wilson Times)

After 60 years in Wilson County, Nexans will close its Elm City plant on June 30 and 113 workers will lose their jobs. The French company makes wire and cable for the aerospace and defense markets. Decreased sales and declining market prices contributed to the decision to close the facility.

Wilkes Regional picks Wake Forest Baptist to take over management

April 4, 2016

(Winston-Salem Journal)

The board of directors of Wilkes Regional Medical Center voted 13-0 to pursue a long-term lease agreement with Wake Forest Baptist. Charlotte-based Carolinas HealthCare System has managed the 130-bed hospital since 2006, while Wake Forest Baptist Medical Center has supplied doctors for the ER. Wake has agreed to invest $238 million in the 63-year-old hospital and possibly purchase it from the town of North Wilkesboro. Novant and Duke LifePoint also submitted proposals.