Business

High Point didn't get its money's worth out of La-Z-Boy deal

November 4, 2014

(High Point Enterprise)

The city of High Point gave La-Z-Boy $600,000 in incentives to move a divisional headquarters there from Greensboro in 2007, and, according to city records, had received only $173,076 in tax and utility revenues through June 2013. The furniture manufacturer is closing the headquarters, where it employs 38 people, over the next two years as part of a restructuring.

Blue Cross adding 30 jobs at Fayetteville call center

November 4, 2014

(The Fayetteville Observer)

Blue Cross and Blue Shield of North Carolina will hire 30 additional customer-service representatives at its Fayetteville call center. The Chapel Hill-based health-insurance company has already hired 45 workers for the new call center, which will open in early December.

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.