Business

Pittsboro approves 7,500-acre Chatham Park community

June 10, 2014

(The News & Observer, Raleigh)

The Pittsboro Board of Commissioners voted 4-1 to approve the master plan for Preston Development Co.'s Chatham Park, a 7,500-acre community that could bring 60,000 residents over several decades. Developers tout the plan as "smart growth" that will help the city avoid problems associated with urban sprawl.

Wells Fargo now top SBA lender in NC

June 10, 2014

(The Charlotte Observer)

Wells Fargo has become the top SBA lender in North Carolina, approving 94 SBA loans between Oct. 1 and May 31, an increase of 21% over the same period for the previous fiscal year. Winston-Salem-based BB&T has approved 27 SBA loans during the same period.

Asheville's HomeTrust Bank expands into Virginia

June 10, 2014

(Asheville Citizen-Times)

Asheville-based HomeTrust Bank will open a commercial loan office in Roanoke, Va. The community bank, which now has assets of $2.1 billion, recently completed an acquisition of Jefferson Bancshares in Tennessee and plans to acquire Charlotte-based Bank of Commerce. 

Biltmore considers new hotel on estate property

June 10, 2014

(Asheville Citizen-Times)

The Biltmore Company has requested a permit to build a 190-room hotel adjacent to its winery at Antler Village. The Asheville estate is on track to report a record 1.2 million guests at the end of its fiscal year at the end of the month.

NC Bankers Association names Ayotte chairman

June 10, 2014

(The News & Observer, Raleigh)

The N.C. Bankers Association elected Mike Ayotte, CEO of Morganton Savings Bank, its new chairman. He succeeds Ron Black, CEO of Bank of Oak Ridge. BNC Bancorp President Rick Callicutt was elected vice chairman of the trade group. 

Audit shows Fayetteville VA center has longest wait times in country

June 10, 2014

(The Fayetteville Observer)

A nationwide audit shows patients at the Fayetteville VA Medical Center have the longest wait times in the U.S. Patients there wait an average of 29 days for a primary care appointment; new patients wait an average of 83 days.

Forsyth approves incentives for furniture plant

June 10, 2014

(Winston-Salem Journal)

Forsyth County commissioners approved $150,000 in incentives for United Furniture Industries to open a manufacturing plant. The company would need to create 200 jobs to receive the incentive. Winston-Salem has already approved a $150,000 performance-based incentive for the company, which would invest $5.8 million in upgrading the historic Weeks plant.

Foster named executive vice president of Cone Health

June 10, 2014

(Winston-Salem Journal)

Mickey Foster was named president of The Moses H. Cone Memorial Hospital in Greensboro and executive vice president of Cone Health. He was president of Cone's Annie Penn Hospital since 2010. Foster succeeds Judy Schanel, who recently became executive vice president of acute care services for the health-care system.

Allegiant to double number of flights from Concord

June 10, 2014

(The Charlotte Observer)

Low-cost airline Allegiant Air will increase the number of flights from Concord to Orlando from two to four times a week beginning Nov. 2. The Las Vegas-based carrier became the regional airport's first commercial carrier in December.

Cisco to add 550 jobs at RTP

June 9, 2014

(WRALTechWire.com)

Cisco Systems will expand its workforce at Research Triangle Park by 10% and will invest $1.6 million. Average annual salary for the 550 new jobs will be $72,700. The San Jose, Calif.-based telecommunications equipment manufacturer will receive up to $12.9 million in state incentives.