Business

Cary partners with SAS on water-monitoring project

December 15, 2014

(WRAL TechWire)

Cary officials say the town will save an estimated $10 million a year through a new $17.9 million system that monitors water usage. Powered by locally-based SAS Institute, the system will provide residents with customized water-usage alerts and will help town officials identify abnormal spikes in water usage.

High Point's Oak Hollow Mall stuck in transition

December 15, 2014

(News & Record, Greensboro)

Nearly four years after High Point University bought Oak Hollow Mall with plans to house graduate programs there, the mall is still operating as a shopping center, though most of its stores have closed. Dillard's and Sears – two of the mall's five original anchor stores – have not sold their buildings to the university.

DA Davidson initiates coverage of Raleigh's Highwoods

December 15, 2014

(The News & Observer, Raleigh)

Analysts with investment firm D.A. Davidson have initiated coverage of Highwoods Properties, giving the Raleigh-based real-estate investment trust a "buy" rating and putting a 12- to 18-month target price of $50 on its stock.

Durham tech company creates code school to develop local talent

December 15, 2014

(The News & Observer, Raleigh)

Durham-based tech startup Smashing Boxes partnered with South Carolina-based The Iron Yard to start a software code school at American Underground's Durham campus. The website and app-development company's founders created the code school because of difficulty finding talented workers.

Charlotte's new economic development director settles in

December 15, 2014

(The Charlotte Observer)

Charlotte's new economic-development director says he will focus on promoting the Queen City's attributes, including its workforce and logistics hub. Bill Cronin, 49, says the city and and North Carolina shouldn't feel pressured to match every incentive package from competing locations. 

Video-gambling investigation could top $20 million

December 12, 2014

(WRAL.com)

Federal agents have raided at least 190 businesses in 40 North Carolina towns since an investigation into video sweepstakes began in May. A federal court transcript shows a father-son duo convicted of illegal gambling more than a decade ago may be linked to a $20 million gambling ring in Eastern N.C.

Concord airport seeks $79.7M for expansion

December 12, 2014

(The Independent Tribune, Concord)

Concord Regional Airport is requesting $79.7 million from the Federal Aviation Administration for improvements, including a $40 million separate terminal for anticipated growth in commercial flights. Las Vegas-based budget carrier Allegiant Airlines began passenger service last December, and City Manager Brian Hiatt says other carriers have expressed interest in Concord.

Triangle business group to raise funds to recruit international flights

December 12, 2014

(The News & Observer, Raleigh)

Triangle-based Regional Transportation Alliance plans to raise $500,000 over three years to help Raleigh-Durham International Airport recruit new nonstop flights to international destinations including Paris and Frankfurt. In October, RDU pledged $2.1 million in incentives to attract more international flights.

Patrick Cannon sells stake in Charlotte parking company

December 12, 2014

(The Charlotte Observer)

Former Charlotte Mayor Patrick Cannon has sold his share of the parking business he founded to owner Jeff Feemster. E-Z Parking also lost its contract with Carolinas HealthCare System, though the hospital system says its decision to switch vendors was unrelated to Cannon's arrest and imprisonment. 

Brunswick County businessman named chairman of NC Ports

December 12, 2014

(Greater Wilmington Business Journal)

Tom Adams, president and CEO of Ocean Isle Beach-based Adams Building and Consulting, is the new chairman of the N.C. State Ports Authority board of directors. Adams was appointed to the board in January by former House Speaker Thom Tillis. He succeeds Michael Lee, who was elected to the N.C. Senate in November.