Business

US Bank promotes Charlotte-based exec

January 8, 2016

(The Charlotte Observer)

Jim Kelligrew was promoted to co-head U.S. Bank's wholesale banking division. Kelligrew, whose résumé includes stints at Wachovia and Bank of America, most recently served as head of fixed income and capital markets for the Minneapolis-based bank. He will remain based in Charlotte, where the bank employs about 350 people. U.S. Bank entered the Charlotte market in 2005 when it acquired Wachovia's corporate trust and institutional custody businesses.

Guilford approves incentives for Ecolab expansion

January 8, 2016

(News & Record, Greensboro)

Guilford County commissioners approved $175,680 in incentives for Ecolab to expand. The company, which supplies cleaning products for the food service industry, is also considering Dallas for the expansion, which would involve a $27 million investment and add 35 jobs. Greensboro City Council has already approved incentives totaling $193,768.

New community bank enters Wilmington market

January 8, 2016

(Greater Wilmington Business Journal)

Morehead City-based Sound Bank is preparing to open its first full-service branch in Wilmington. The community bank, which has six locations and more than $130 million in assets according to its website, opened a loan production office there last January.

After weak holiday sales, Macy's to close Cary store

January 7, 2016

(The News & Observer, Raleigh)

Macy's is closing its store at Cary Towne Center, where it employs 63 people. The Cincinnati-based department store chain will shutter 40 stores altogether; the Cary store is the only closure planned in North Carolina.

Novant cements partnership with UVA

January 7, 2016

(Winston-Salem Journal)

Under a new partnership that was finalized Jan. 1, Novant Health has taken over management of 70-bed UVA Culpeper Regional Hospital and is now majority owner of a  new regional health system in northern Virginia. Winston-Salem-based Novant holds a 60% stake in the partnership, called Novant Health UVA Health System.

Rooms to Go closes Charlotte distribution center

January 7, 2016

(The Charlotte Observer)

The Florida-based furniture retailer is consolidating distribution at its new 1.45-million-square-foot facility in Dunn. About 50 of 88 workers at the Charlotte distribution center will relocate to Dunn.

Olde Mecklenburg exits Triad; blames NC beer law

January 7, 2016

(News & Record, Greensboro)

Charlotte's Olde Mecklenburg Brewery is closing its Greensboro warehouse and scaling back Triad expansion plans. The brewery blames a state law that requires craft brewers to use a third party distributor once production reaches 25,000 barrels a year. Nearing that threshold, Olde Mecklenburg says it is pulling out of the Triad "in order not to underserve Charlotte – our home market."

NC Railroad Co. land buy juices Triad hopes for an auto plant

January 7, 2016

The announcement Tuesday that the state-owned N.C. Railroad Co. would buy about 875 acres in a Randolph County industrial megasite for $13 million is "a marriage meant to be," says Jim Melvin, former Greensboro mayor, current octogenarian and Triad booster extraordinaire.

Another brewery expansion for Asheville

January 7, 2016

(Asheville Citizen-Times)

Burial Beer Company, the maker of beers with names such as The Remains and The Triumph of Death, is investing $1.8 million in a new brewery near Asheville's Biltmore Village. The 3-year-old company plans to hire 17 new employees.

Duke LifePoint completes purchase of Hickory, Sanford hospitals

January 7, 2016

(The Fayetteville Observer)

Duke LifePoint Healthcare has completed its acquisition of Central Carolina Hospital, a 137-bed medical center in Sanford, and Frye Regional Medical Center, a 355-bed hospital in Hickory. The hospitals were previously owned by Tenet Healthcare. The Brentwood, Tenn.-based joint venture of Duke University Health System and LifePoint Health now has seven hospitals in the state.