Business

Price of Charlotte streetcar project grows to $150 million

September 5, 2014

(The Charlotte Observer)

The anticipated cost of Charlotte's controversial 2.5-mile streetcar extension has risen from $126 million to $150 million, largely due to inflation. The City Council will vote Monday on whether to apply for a grant from the U.S. Department of Transportation that would cover half of the cost of the project.

Jones named chancellor of ECSU

September 5, 2014

(The News & Observer, Raleigh)

The UNC Board of Governors named Stacey Franklin Jones chancellor of Elizabeth City State University. A mathematician and software engineer, Jones has served as a management consultant based in Washington, D.C., since 2011 and has held leadership positions at colleges in South Carolina and Maryland. 

Bayer CropScience to break ground on RTP greenhouse

September 5, 2014

(The News & Observer, Raleigh)

Bayer CropScience will break ground Monday on a $29.6 million, 29,500-square-foot greenhouse at Research Triangle Park. Construction is expected to be completed by late 2015. 

Inmar acquires Canadian coupon company

September 5, 2014

(Winston-Salem Journal)

Winston-Salem-based Inmar has bought Canada-based Millennium Process Coupon. Inmar provides inventory management and coupon clearing for retailers and manufacturers and employs more than 920 people. Terms of the deal weren't disclosed.

Reynolds subsidiary to launch nicotine gum

September 5, 2014

(Winston-Salem Journal)

A Reynolds American subsidiary is planning a national rollout of a nicotine replacement therapy gum. Zonnic will be sold in convenience stores and gas stations, where most people buy tobacco products. GlaxoSmithKline's Nicorette currently claims 43% of the market share of NRT products.

Wake Forest Baptist receives $18 million cancer-research grant

September 5, 2014

(Winston-Salem Journal)

Wake Forest Baptist Medical Center received an $18 million grant from the National Cancer Institute to develop cancer screening and prevention programs and conduct controlled clinical trials.

Wilmington's Live Oak Bank to remain private

September 4, 2014

(Greater Wilmington Business Journal)

Live Oak Bank will remain a private company, despite the Wilmington company's SEC filing for an initial public offering in April (Statewide, June). A company spokeswoman said the bank has closed on a private investment from Boston-based Wellington Management.

BB&T to acquire 41 more Citibank stores in Texas

September 4, 2014

(Winston-Salem Journal)

BB&T Corp. will purchase 41 Texas Citibank branches representing $2.3 billion in deposits for an undisclosed amount. The Winston-Salem-based bank bought 21 Texas branches from New York-based Citigroup in June. The deal, expected to close in the first quarter, will give BB&T 123 branches in Texas.

Decker to face tough vote on Family Dollar buyout offer

September 4, 2014

(The Charlotte Observer)

As the state's top jobs recruiter, N.C. Commerce Secretary Sharon Decker, a member of Family Dollar's board of directors since 1999, will face a tough decision when deciding whether to support Dollar General's $9.1 billion offer to acquire the Matthews-based retailer. The deal could put about 1,400 jobs at the company's headquarters at risk. 

Wilson unsure of pipeline benefits

September 4, 2014

(The Wilson Times)

Wilson city officials worry that the city will reap little or no benefits from a new, 550-mile natural gas pipeline that will run through Wilson County. Chief Operations Officer Dathan Shows says the city has been unsuccessful in efforts to talk with utility companies about purchasing gas from the pipeline.