Business

High Point groups agree on merger

August 6, 2015

(High Point Enterprise)

Members of the High Point Chamber and High Point Partners voted unanimously to merge into one economic-development group. Business High Point has secured pledges from 22 businesses that have agreed to contribute $20,000 annually to the group.

Premier to acquire Pittsburgh company for $400M

August 5, 2015

(The Charlotte Observer)

Premier will pay about $400 million to acquire Pittsburgh-based CECity, which offers cloud-based services for health care organizations, including electronic reporting and continuing education. Charlotte-based Premier will pay $250 million in cash and borrow $150 million from revolving credit.
SNEAK PEEK: Read more about Premier and CEO Susan DeVore in our August cover story

ChannelAdvisor taps Red Hat's Cook for CFO post

August 5, 2015

(WRAL TechWire)

Mark Cook will become CFO of ChannelAdvisor, replacing John Baule, who is retiring. Cook is vice president of finance at Raleigh-based software company Red Hat. It's the second leadership change recently announced by the Morrisville-based e-commerce company; former ChannelAdvisor COO David Spitz replaced Scot Wingo as CEO in May.

Surf City joins campaign against offshore drilling

August 5, 2015

(StarNews, Wilmington)

Surf City adopted a resolution Tuesday objecting to offshore drilling and exploration for oil and gas. The coastal town joins other groups and municipalities, including Wilmington, Nags Head and Manteo, in opposing the practice (Statewide, July).

Grubb Properties plans more apartments aimed at millennials

August 5, 2015

(The Charlotte Observer)

Charlotte-based Grubb Properties and partner Foothills Capital plan to build up to 450 apartments on 10.7 acres near Park Road Shopping Center in Charlotte. Plans call for a mixed-use development that could include a hotel and retail shops at the site, which is now occupied by two office buildings.
Read more about Grubb Properties in our July cover story, "Staying on track"

SC developer to pay $21 million for state-owned land in Cary

August 5, 2015

(The News & Observer, Raleigh)

South Carolina-based Columbia Development Group will pay $21.15 million for a 95 acres off Cary Towne Center Boulevard that is currently owned by the state. The developer's plans are unknown, though Cary Mayor Harold Weinbrecht said the project could include retail and office space.

Beer industry pumps millions into Buncombe economy

August 5, 2015

(Asheville Citizen-Times)

Western N.C. is home to more than 40 breweries, from small startups to New Belgium's East Coast brewery in West Asheville, where the company is investing nearly $140 million. The beer industry has become part of Asheville's brand, according to David Gantt, chairman of the Buncombe County Commission.

GKN, Nypro consider expansions in Alamance County

August 4, 2015

(The Times-News, Burlington)

Alamance County commissioners unanimously approved incentives for GKN Driveline to build a $6.3 million distribution center to support its three regional plants. The 134,000-square-foot facility would support 13 new jobs with an average annual salary of $55,000. Commissioners also approved incentives for manufacturer Nypro to create 75 jobs at a new warehouse facility.

BB&T completes its largest purchase

August 4, 2015

(Winston-Salem Journal)

BB&T completed its $2.5 billion acquisition of Lititz, Pa.-based Susquehanna Bancshares Monday. The cash-and-stock deal is the largest in the Winston-Salem-based bank's history and gives it 240 branches in Pennsylvania, Maryland, New Jersey and West Virginia.

Investors favor Triangle-based CROs

August 4, 2015

(The News & Observer, Raleigh)

Shares of Raleigh-based INC Research and PRA Health Sciences have risen 95% and 75%, respectively, this year, while Durham-based Quintiles shares are up 31%. All three contract-research organizations posted second-quarter results that beat analysts' expectations.