Business

UNCW economist Hall announces retirement

September 23, 2014

(Greater Wilmington Business Journal)

William "Woody" Hall will retire at the end of the current academic year after 41 years at UNC Wilmington. Hall is the senior economist for UNCW's Swain Center for Business and Economic Services and has conducted research on the Wilmington-area economy for years.
Also: UNC Wilmington announces search committee for new chancellor

Brazil-based adhesives manufacturer to open Gaston County plant

September 23, 2014

(The Gaston Gazette)

Dalton Dynamics Corp. will invest at least $2 million in a 25,000-square-foot plant in Gastonia where it will produce industrial adhesives for automotive and other industries. The Brazil-based company, which expects to hire about 25 people, credits the area's proximity to Charlotte Douglas International Airport and quality of life.

New Jersey drug maker to pay $100M to settle Salix patent litigation

September 23, 2014

(The News & Observer, Raleigh)

Raleigh-based Salix Pharmaceuticals has reached a $100 million settlement with New Jersey-based Par Pharmaceutical in a patent lawsuit filed by Santarus, a San Diego-based drug maker acquired by Salix earlier this year, and the University of Missouri. 

State unemployment rate rises to 6.8%

September 22, 2014

(The News & Observer, Raleigh)

North Carolina's unemployment rate rose for the second straight month, from 6.5% in July to 6.8% in August. The state added 12,500 jobs, led by 8,500 government positions which likely includes new teacher hires.

IBM unveils new RTP data center

September 22, 2014

(WRAL.com)

IBM will unveil a 72,000-square-foot data center at its Research Triangle Park campus on Monday. The Armonk, N.Y.-based tech company operates 150 such centers worldwide and employs about 7,500 in RTP. 

PepsiCo exec to become president of R.J. Reynolds Tobacco

September 22, 2014

(Winston-Salem Journal)

Reynolds-American named Debra Crew president of subsidiary R.J. Reynolds Tobacco Co. effective Oct. 1. Crew comes from PepsiCo, where she has held various executive leadership roles. She replaces Andrew Gilchrist, who will become an executive vice president with the parent company. 

Duke Energy identifies five properties for site-readiness program

September 22, 2014

(Winston-Salem Journal)

Duke Energy has chosen five central N.C. locations for its site-readiness program. Properties selected for the program, which the utility will help market for corporate expansions and relocations, include a 320-acre tract in Guildford County and a 1,470-acre site in Chatham County, which economic developers have touted as a potential "megasite" for an auto manufacturer. Other sites include ones in Lincoln, Rowan and Vance counties.

Yadkin Bank to test smaller branches

September 22, 2014

(The Charlotte Observer)

Yadkin Bank will open a 1,000-square-foot branch in Raleigh during the next year as a part of a pilot project aimed at cutting costs. The branch will be about one-third the average size of the Raleigh-based bank's branches and will employ two full-time employees and one part-time employee.

U.S. government opposes BofA request to throw out 'Hustle' verdict

September 22, 2014

(The Charlotte Observer)

In court filings last week, the federal government expressed opposition to Bank of America's request that a federal judge throw out the jury verdict that found the Charlotte-based bank liable for Countrywide Financial's sale of faulty mortgage bonds to Fannie Mae and Freddie Mac.

Durham's BioCryst receives additional funds for Ebola drug

September 22, 2014

(The News & Observer, Raleigh)

BioCryst Pharmeceuticals announced it could receive another $4 million from the federal government for the development of a potential treatment for the Ebola virus, bringing the total value of its contract with the National Institute of Allergy and Infectious Diseases to $26.3 million.