Business

Moore County delays agreement on 3,000-acre megapark

August 20, 2014

(The Fayetteville Observer)

Moore County commissioners decided to delay an agreement with Montgomery County on a 3,000-acre industrial park. County leaders say they support the project but want to simplify the terms of the agreement. Two-thirds of the proposed site is in Moore County.

House votes against incentives for Canton paper mill

August 20, 2014

(Asheville Citizen-Times)

The N.C. House defeated a bill Tuesday that included a $12 million incentive to help Evergreen Packaging replace its coal-fired boilers with new natural-gas ones at its Canton paper mill. The Environmental Protection Agency is forcing the company to replace the boilers by 2016, a project the company says will cost $50 million.

Eaton closing Charlotte plant

August 20, 2014

(The Charlotte Observer)

Eaton will close its Charlotte clutch-manufacturing plant, laying off 84 workers by the end of 2015. The Dublin-based company will move Charlotte operations to plants in Indiana and Mexico. Eaton employs more than 4,000 in North Carolina, including 79 at a distribution center in Charlotte.

Creative Loafing Charlotte sold to Triad publisher

August 20, 2014

(News & Record, Greensboro)

Jamestown-based Womack Newspapers Inc., publisher of Greensboro-based YES! Weekly, will acquire Creative Loafing Charlotte. Terms of the deal, expected to close by the end of the month, weren't disclosed.

Developer hopes Asheville outlets will draw tourists

August 20, 2014

(Asheville Citizen-Times)

Asheville Outlets, under construction at the site of the former Biltmore Square Mall, will add 1,341 jobs and $33 million in local spending, according to an economic impact study commissioned by the developer. The 325,000-square-foot shopping center will open in spring 2015.

Family establishes commercial real estate firm in Wilmington

August 20, 2014

(Greater Wilmington Business Journal)

A family of brokers who worked the past five years with Coldwell Banker Commercial Sun Coast Partners has started their own commercial real estate company, Eastern Carolinas Commercial Real Estate. 

Dollar General deal could lead to job cuts at Family Dollar

August 19, 2014

(The Charlotte Observer)

At least one analyst says a potential Dollar General acquisition of Family Dollar Stores could lead to heavy job losses at the discount retailer's Matthews headquarters. Goodlettsville, Tenn.-based Dollar General's business model is more similar to Family Dollar's than Chesapeake, Va.-based Dollar Tree's, meaning there could be many jobs with duplicate functions.

Wake County to hit 1 million residents Friday

August 19, 2014

(The News & Observer, Raleigh)

Based on the average growth rate of 62 people a day, Wake County is expected to reach the milestone of 1 million residents on Friday. The majority of Wake's growth comes from net migration − about two thirds of new residents come from other states, foreign countries and other counties in North Carolina.

Charlotte's Sonic Automotive to launch used-car dealerships

August 19, 2014

(The Charlotte Observer)

Sonic Automotive, the Fortune 500 company founded by Bruton Smith, plans to open a chain of stand-alone used-car dealerships. The first three EchoPark stores will open in Denver, Colo. by November.

Silicon Valley venture-capital firm looking to RTP for opportunities

August 19, 2014

(The News & Observer, Raleigh)

HealthQuest Capital, a Silicon Valley-based venture-capital firm, is looking to invest in life-sciences companies in North Carolina and other parts of the Southeast. The firm was founded by Garheng Kong, a former partner at Durham's Intersouth Partners, who says the region has long been underfunded when it comes to venture-capital investments.