Business

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

Raleigh's NephroGenex wins FDA approval for kidney drug

December 15, 2015

(The News & Observer, Raleigh)

Shares of the Raleigh drug developer rose 48% Monday after the FDA said the company can conduct clinical trials using Pyridorin to treat acute kidney injury. The drug is already being tested for kidney disease caused by diabetes. NephroGenex's stock has underperformed since its February 2014 IPO at $12 a share; shares closed Monday at $2.13.

Wilmington shopping center to expand

December 15, 2015

(StarNews, Wilmington)

The owners of Mayfaire Town Center in Wilmington submitted plans to expand the shopping center by more than 90,000 square feet. CBL & Associates bought the 700,000-square-foot center for $192 million in June; the Chattanooga, Tenn.-based company has since sold a portion of the complex, Mayfaire Community Center, for $56.3 million.

Google honors Charlotte as a top eCity

December 15, 2015

(The Charlotte Observer)

Charlotte is among 50 winners of Google's eCities awards, which honors cities with strong online business communities. Winning cities were selected based on small businesses' use the Web to attract new customers, connect with clients and grow local economies. Cary and Cornelius were previous winners of the annual award.

SPX sells business unit for $48M

December 15, 2015

(The Charlotte Observer)

SPX will sell its dry cooling business, which represents about 10% of its power segment, to an India-based company for about $48 million. The deal is expected to close in the first half of 2016. The manufacturer employs about 350 people at its Charlotte headquarters.

Condos, corporate HQ proposed for Kannapolis revitalization

December 15, 2015

(Independent Tribune, Concord)

The city of Kannapolis's downtown redevelopment plan could include mixed-use buildings with retail, condos, apartments and an educational institute. Kannapolis owns about 750,000 square feet of downtown space and is working with UNC School of Government's Development Finance Initiative to reinvigorate the former textile town.

Report: Wilmington's PPD explores sale, IPO

December 14, 2015

(Greater Wilmington Business Journal)

Pharmaceutical Product Development could be looking at a possible sale or initial public offering that would value the company between $7 billion and $8 billion, according to a Reuters report. The contract research organization employs about 1,500 people at its Wilmington headquarters and more than 14,500 worldwide. PPD was founded in 1985 by Fred Eshelman, who made more than $275 million when he sold the company to two investment firms in 2011.

Novant Health chief gets 14% raise

December 14, 2015

(Winston-Salem Journal)

Carl Armato earned $2.59 million in overall compensation in fiscal 2014, a figure that includes a 14.4% salary increase to $1.19 million. Four other executives at the Winston-Salem-based health system earned more than $1 million in overall compensation, according to figures released Friday.