Business

Elon University to begin campus expansion projects

November 4, 2014

(News & Record, Greensboro)

Elon University will begin construction in December on a 14,850-square-foot recreation building that will house a gymnasium and fitness center. The school also plans to renovate and expand an arts building and a residential complex. All three projects are expected to be completed by fall 2015. 

Kane Realty pushes for 40-story skyscrapers in Raleigh's Midtown

November 3, 2014

(The News & Observer, Raleigh)

Kane Realty wants Raleigh to allow buildings up to 40 stories high in its Midtown district. The area includes North Hills, the north Raleigh district the local real-estate developer has transformed from a two-story shopping mall into a mixed-use development that includes retail, residential and office space with urban-like density. 
Read more about John Kane, Developer of the Year in Business North Carolina's 2014 Building NC Awards

Hickory's Corning Optical considers headquarters move

November 3, 2014

(Hickory Daily Record)

Corning Optical Communications is starting a 24-month analysis that could result in the fiber-optics company moving its headquarters out of Hickory. A division of Corning Inc., the company is Catawba County's eighth largest employer with more than 1,000 employees, according to the Catawba County Economic Development Corp. The company declined to release employment figures. 

Linamar adding 150 jobs near Asheville

November 3, 2014

(Asheville Citizen-Times)

Linamar will add 150 jobs with an average annual salary of $42,667 and invest $115 million in its Arden plant, where the Guelph, Ontario-based company will make gears for automatic transmissions for an unnamed automobile-maker. About 200 people currently work at the plant, which makes parts for diesel engines and off-road vehicles.

Dollar General extends Family Dollar offer until Dec. 31

November 3, 2014

(The Charlotte Observer)

Dollar General has extended its $80 per share all-cash takeover bid of Matthews-based Family Dollar Stores until Dec. 31. Family Dollar shareholders are scheduled to vote Dec. 11 on a deal in which Chesapeake, Va.-based Dollar Tree would acquire the discount retailer for $74.50 a share in cash and stock.

Winston-Salem-based Inmar acquires digital-coupon company

November 3, 2014

(Winston-Salem Journal)

Inmar purchased Madison, Wis.-based digital-coupon company Hopster for an undisclosed amount. Hopster offers print-at-home coupons for brands including Kleenex, Huggies and Libby's. Winston-Salem-based Inmar employs about 4,000 people nationwide, including about 900 at its local headquarters.

Holmes named CEO of Wilson's Cornerstone Bank

November 3, 2014

(The News & Observer, Raleigh)

Wilson-based Cornerstone Bank named Mark Holmes CEO. He replaces Norm Osborn, who was fired in June by the bank's board of directors. Holmes was president and CEO of Greenville-based Select Bank and Trust, which was acquired in July by Dunn-based New Century Bank.

Hickory's Frye Regional expanding emergency department

November 3, 2014

(Hickory Daily Record)

Frye Regional Medical Center in downtown Hickory will increase the number of emergency room beds from 18 to 32 as part of a $9.5 million expansion that also includes technology upgrades. About 40,000 patients a year are treated at the ER, which was designed to treat 25,000 a year, according to the hospital's director of emergency services. The expansion is expected to be completed by early 2017.

Wilmington's DryCase expands product line through licensing agreement

November 3, 2014

(Greater Wilmington Business Journal)

DryCase, a division of Wilmington-based DryCorp., is producing a new product line that will allow it to expand its offerings in sporting-goods and outdoor retailers. The company is partnering with Mossy Oak, a company that develops camouflage patterns for hunters, to produce waterproof packs.
Click here to read more about DryCorp., Business North Carolina's 2013 Small Business of the Year

Blue Cross Blue Shield sends 42,000 incorrect renewal notices

October 31, 2014

(The News & Observer, Raleigh)

The state's largest health insurer mailed out about 42,000 policy renewal letters with incorrect rates. Some Blue Cross Blue Shield customers received notices showing cost increases of more than 100%. A company spokeswoman said the mistake was due to "good old classic human error."