Business

General Assembly refutes film study, says incentives cost state $33 million

April 8, 2014

(StarNews, Wilmington)

A review of a film-incentive study released last week questions its conclusions and claims North Carolina lost $33.1 million in local and state tax revenue in 2012 due to the incentives. The state General Assembly's Fiscal Research Division re-evaluated the study performed by an N.C. State professor, and its findings dispute the study's claim the state made a profit of $25.4 million from tax revenue.

Early attendance is up at High Point Market

April 8, 2014

(Time Warner Cable News)

High Point Market Authority President Tom Conley said some exhibitors at this week's biannual event say they've had the highest attendance in five or six years. Of the more than 2,000 vendors at the furniture show, one in ten is new to the market this year. 

Bank of Carolinas wants to increase number of shares

April 8, 2014

(The Winston-Salem Journal)

The board of Mocksville-based Bank of the Carolinas is seeking shareholder permission to increase its number of outstanding shares from 15 million to 580 million. UNC Charlotte finance professor Tony Plath says the move could be a part of strategy to avoid an unwelcome acquisition. 

Charlotte-based Premier buys Texas company

April 8, 2014

(The Charlotte Observer)

Charlotte-based Premier Inc. bought College Station, Texas-based MEMdata, an equipment-planning business, for an undisclosed amount. Premier, which offers services to help health-care companies improve efficiency and reduce costs, said the purchase will help its members save money on equipment purchases and construction costs.

California real-estate firm buys another Triangle apartment complex

April 8, 2014

(The News & Observer, Raleigh)

Irvine, Calif.-based Passco Companies bought the 270-unit Carrington at Brier Creek apartment complex in Raleigh for $37.3 million. Passco bought a 280-unit Durham complex in July 2013 and also recently purchased a 246-unit apartment community in Raleigh. 

U.S. Forest Service to increase recreation fees at NC national forests

April 8, 2014

(Asheville Citizen-Times)

Beginning May 7, the U.S. Forest Service will increase recreation fees at seven sites in the Nantahala, Pisgah, Uwharrie and Croatan national forests. 

 

Charlotte ranked fifth-worst for sprawl

April 7, 2014

(The Charlotte Observer)

The Charlotte-Gastonia-Rock Hill, S.C. area was ranked No. 5 on a list of most sprawl-prone metropolitan areas in the nation. Smart Growth America ranked the Charlotte area 25th overall out of 221 metro areas and 994 counties included in the report.

Former Harris Teeter CEO named chairman of The Pantry

April 7, 2014

(The News & Observer, Raleigh)

The Pantry has named the former chairman and CEO of Matthews-based Harris Teeter as chairman of its board of directors. Thomas "Tad" Dickson replaces Edwin Holman, who was ousted last month after a group of dissident shareholders elected three new candidates to the convenience-store chain's nine-member board.

 

APAC to add 500 customer-service jobs in High Point

April 7, 2014

(High Point Enterprise)

APAC Customer Services Inc. will hire 500 full-time workers at its High Point service center by July. The outsourcing company says the call-center positions will provide service for a telecommunications company. 

Dredging to improve port prospects at Morehead City

April 7, 2014

(Carteret County News-Times)

The U.S. Army Corps of Engineers will begin dredging in Beaufort Inlet today. The $7.9 million project will allow ships leaving the N.C. Port of Morehead City to carry more cargo by increasing the channel's depth to 43 feet. Sand removed from the inlet will be moved to beaches along Bogue Banks.