Business

Charlotte foundation is among top 10 in nation

April 3, 2014

(The Charlotte Observer)

Foundation for the Carolinas had assets of $1.3 billion in 2013, 30% higher than in 2012 and making it the No. 10 community foundation in the country. The nonprofit organization connects companies and individual donors with charitable causes. The foundation also plans to announce the creation of a new disaster-relief program.

Owner plans two hotels at BB&T building in Asheville

April 3, 2014

(Asheville Citizen-Times)

The BB&T building in downtown Asheville will house a 120-room AC Hotel by Marriott and a 150- to 170-room boutique hotel, as well as six floors of vacation rentals and condominiums. Owners say they plan to begin construction later this year.

Walmart back at top of Charlotte grocery market

April 3, 2014

(The Charlotte Observer)

Walmart regained the top spot in the Charlotte region's grocery market, with 22.4% of sales compared with 20.4% a year ago. Harris Teeter Supermarkets fell to No. 2, from 23.7% to 20.4%. Food Lion was third with 18.7% of sales.

New study shows NC gets positive return on film incentives

April 2, 2014

(The News & Observer, Raleigh)

A new study by a professor from N.C. State University shows the film industry spends $9.11 in the state for every dollar of incentives it receives. According to the study, the TV and film industry spent $1 billion in North Carolina from 2007 to 2012, while it received $112 million in tax credits.

Charlotte utilities seeking proposals for new natural-gas pipeline

April 2, 2014

(The Charlotte Observer)

Duke Energy and Piedmont Natural Gas want a new interstate natural-gas pipeline to serve North Carolina, and the two Charlotte-based utilities are seeking proposals for a company to build and operate one. Piedmont supplies gas to five power plants Duke Energy has built since 2011 as Duke shifts from coal to other energy sources.

Software firm moving headquarters from Atlanta to Charlotte

April 2, 2014

(The Charlotte Observer)

Thinkgate, an education-software firm, will move its headquarters from Atlanta to Charlotte. The company plans to relocate 70 workers and hire 75 to 120 additional workers with salaries ranging from $50,000 to $200,000 over the next three years. Thinkgate offers data management solutions and test-creation tools for K-12 schools.

NewBridge closes merger with Raleigh's CapStone Bank

April 2, 2014

(The Winston-Salem Journal)

Greensboro-based NewBridge Bancorp has completed its acquisition of Raleigh-based CapStone Bank, which has four branches in the Triangle area. The deal, which was announced in November, gives NewBridge assets of $2.4 billion and a total of 40 branches.

Offshore drilling could create hundreds to thousands of new jobs

April 2, 2014

(StarNews, Wilmington)

N.C. State professor Michael Walden says offshore drilling for oil and natural gas along the North Carolina coast could create a few hundred to several thousand jobs. The potential number of jobs would depend on a number of factors, including available quantities, pricing, advanced technologies and environmental impact. 

Plastics manufacturer to expand Henderson County plant

April 2, 2014

(Hendersonville Times-News)

Plastics-manufacturer Elkamet will invest $2.35 million and hire 15 to 20 new workers at its plant in East Flat Rock. The company makes plastic components for vehicle manufacturers including Ford and Volkswagen. Hiring for the new jobs will begin this summer.

BNC Bancorp completes purchase of Albemarle's South Street Financial

April 2, 2014

(The Winston-Salem Journal)

High Point-based BNC Bancorp has completed its acquisition of South Street Financial Corp., parent of Home Savings Bank of Albemarle. The purchase gives BNC four additional branches and $278 million in assets. BNC previously announced plans to purchase the parent company of Chapel Hill-based Harrington Bank; when that deal closes it will have $3.4 billion in assets.