Business

Asheville has $1B in commercial projects in pipeline

July 13, 2015

(Asheville Citizen-Times)

Commercial real-estate developers have about $1 billion of projects planned for the Asheville area over the next five years, including hotels, retail space, offices and apartments.

Red Ventures hiring 500 in Charlotte area

July 13, 2015

(The Charlotte Observer)

Red Ventures plans to hire 500 salespeople over the next two months. The Indian Land, S.C.-based marketing company says about 40% of the new jobs will be at its Charlotte office in the university area. Founded 15 years ago in Charlotte, Red Ventures now employs 2,500 people.
Also: Red Ventures CEO: We're going to keep growing

Wind farm near Elizabeth City will be first in the Southeast

July 13, 2015

(The News & Observer, Raleigh)

Spanish developer Iberdrola Renewables plans to invest $600 million in a wind farm near Elizabeth City, the first commercial-scale wind farm in the Southeast. Plans call for 102 turbines on a 22-acre tract; 50 more turbines could be added later. The wind farm could generate enough electricity to power about 60,000 homes.

Whitaker Park developers seek fundraising extension

July 13, 2015

(Winston-Salem Journal)

Whitaker Park Development Authority asked the city to extend its deadline from 12 to 24 months to raise between $2 million and $2.5 million for the redevelopment of the former R.J. Reynolds tobacco campus. The authority has raised $750,000 from local governments and the Golden LEAF Foundation. Reynolds said Friday it has donated an 87,000-square-foot building to the authority that will be used as labs for biotech companies; the company plans to donate a total of 120 acres and 1.7 million square feet.

Morganton plant sold; most jobs retained

July 13, 2015

(The News Herald, Morganton)

Louisville, Ky.-based Sypris Solutions has sold its Morganton manufacturing plant to Meritor, its largest customer, for $14.5 million. Meritor offered jobs to 117 of 140 workers who were employed at the plant, which makes components for commercial and industrial vehicles.

Insulation company creating 61 jobs in Huntersville

July 10, 2015

(The Charlotte Observer)

Nutec Group, a Mexico-based insulation company, will invest $19.2 million in a manufacturing facility in Huntersville and plans to hire 61 workers. It will be the company's first U.S. plant.

GE Aviation opens West Jefferson plant, touts importance of EXIM Bank

July 10, 2015

(StarNews, Wilmington)

While urging Congress to restart the federal Export Import Bank, GE Aviation held a grand opening of its West Jefferson machining factory on Thursday. The company has hired 45 workers and plans to hire an additional 60 by 2017 at the $65 million plant. The Ashe County plant is part of GE's previously announced statewide expansion that will account for more than 240 new jobs.

Troop cuts hit Fort Bragg

July 10, 2015

(WRAL.com)

Fort Bragg will lose about 1.5% of its military positions as part of a nationwide Army downsizing. The Army will cut 842 active soldier positions and an unspecified number of civilian jobs by 2018. Nationwide, about 40,000 soldiers and 17,000 civilians will be affected by the reductions.

Charlotte developer plans mixed-use project near Durham ballpark

July 10, 2015

(The News & Observer, Raleigh)

Charlotte developer CitiSculpt acquired a 12.1-acre site near the Durham Bulls Athletic Park and plans to invest $400 million in a project that includes 300 apartments, offices, retail and one or more hotels.

Asheville hotel sells for $33 million

July 10, 2015

(Asheville Citizen-Times)

Summit Hotel Properties paid about $33 million for the 115-room Hotel Indigo in downtown Asheville. The seller was Pennsylvania-based Hospitality Lodging Investors. Austin, Texas-based Summit plans to invest about $400,000 in capital improvements over the next year.