Business

Wells Fargo economists predict strong growth in the year ahead

December 17, 2015

(The Charlotte Observer)

Nonfarm employment in North Carolina is expected to rise 2.6% in 2016, according to a report from Wells Fargo Securities. Economists predict the state's unemployment rate will drop but still remain higher than the national average.

Vertex Railcar adding jobs as orders roll in

December 16, 2015

(StarNews, Wilmington)

Vertex Railcar says it has two orders for a total of 1,100 railcars that will keep the manufacturer busy through most of 2016. The company, which eventually plans to hire 1,300 people in Wilmington, has completed its first 60 cars. Vertex currently has 189 employees and is still hiring, according to Foster Sayers, the company's lawyer.

Charlotte restaurant boycotts Anheuser-Busch products

December 16, 2015

(The Charlotte Observer)

Diners at Queen City Q, a Charlotte restaurant chain with three locations and another planned, will no longer be able to order a Budweiser or Corona to wash down their meals. The chain is boycotting products associated with AB InBev after a Wall Street Journal story suggested the company rewards distributors who focus on its beers while limiting beers from craft brewers

Judge refuses to dismiss lawsuit over Amazon wind farm

December 16, 2015

(The News & Observer, Raleigh)

A judge on Monday denied a request to throw out a lawsuit seeking to block construction of the Amazon Wind Farm in northeastern North Carolina. A couple from Perquimans is seeking a lengthy regulatory review of the $400 million project, which is already under construction, that developers say would kill the project.
Read "Hot Air," from BNC's December issue, to learn more about the Amazon-financed project

Warm temps hurting NC ski industry

December 16, 2015

(Asheville Citizen-Times)

Wolf Ridge Ski Resort in Madison County hopes to open by Sunday following weeks of warmer-than-expected weather. The resort will lose $100,000 in revenue if it's not able to open Christmas week, says Kathy Bogdanescu, group sales coordinator. The N.C. ski season typically runs from November-March and last year contributed $197.2 million to the state's economy, according to a recent report.

Teamsters rally to protest job losses at Eden brewery

December 16, 2015

(News & Record, Greensboro)

About 50 people turned out Tuesday for a rally protesting the planned closure of the MillerCoors plant in Eden. A local Teamsters group organized the rally. More than 500 people making an average salary of $60,000 will lose their jobs when the brewery shuts down next year ("Crying in their beer," November.)

High Point showroom operator withdraws plans for IPO

December 16, 2015

(Winston-Salem Journal)

International Market Centers on Monday withdrew its request for an initial public offering, citing "unaffordable market conditions." The real-estate investment group owns and operates showrooms totaling 6.7 million square feet in High Point and 5.4 million square feet in Las Vegas. It's the second time IMC has postponed the IPO.

Novant breaks ground on 36-bed Clemmons hospital

December 16, 2015

(Winston-Salem Journal)

The Winston-Salem-based health system broke ground on a $49 million addition to its Clemmons Medical Center that will add 36 inpatient beds, three new operating rooms, a pharmacy and a cafeteria.

Duke Energy to build solar farms in Union, Davie counties

December 16, 2015

(The Charlotte Observer)

Chapel Hill-based Strata Solar will build a 60-megawatt solar array near Monroe that will be Duke Energy's third largest in the state. A second 15.4-megawatt farm will be built on 110 acres in Mocksville. Both projects should be complete by the end of 2016.

Corning to buy power from Duke Energy solar farm

December 14, 2015

(The Charlotte Observer)

Corning will purchase 62.5% of power generated at a solar farm Duke Energy is building in eastern North Carolina. The facility, announced in September, will be the largest solar farm east of the Mississippi River, according to Duke. Glass- and fiber-maker Corning employs about 3,000 people in North Carolina and recently said it is adding 150 new jobs in Charlotte.
More on solar: Rural NC town mocked on social media after passing solar moratorium