Business

Yarn maker expanding in Burlington

August 21, 2014

(Winston-Salem Journal)

CS Carolina will invest $7.3 million and create 22 jobs at a yarn-manufacturing plant in Burlington. The company also plans to move 27 workers from Swepsonville to the Burlington plant.

SunTrust expands size of Charlotte office

August 20, 2014

(The Charlotte Observer)

SunTrust Bank will increase the size of its planned regional headquarters in Charlotte by 19,000 square feet. The Atlanta-based bank will occupy space on four of five floors of a new 105,300-square-foot SouthPark building scheduled to open this fall.

Four Oaks Bank raises $24 million through stock offering

August 20, 2014

(The News & Observer, Raleigh)

Four Oaks Bank raised $24 million in a common stock offering priced at $1 per share. The Johnston County bank says the new capital will help it comply with a 2011 agreement with state and federal regulators and will allow it to expand its loan portfolio.

Icahn continues attack on Family Dollar

August 20, 2014

(The Charlotte Observer)

Investor Carl Icahn criticized Matthews-based Family Dollar Stores for not being more aggressive in pursuing a deal with Dollar General, and said the board has been too concerned with protecting CEO Howard Levine, son of the retail company's founder Leon Levine (NCTrend, July).

Moore County delays agreement on 3,000-acre megapark

August 20, 2014

(The Fayetteville Observer)

Moore County commissioners decided to delay an agreement with Montgomery County on a 3,000-acre industrial park. County leaders say they support the project but want to simplify the terms of the agreement. Two-thirds of the proposed site is in Moore County.

House votes against incentives for Canton paper mill

August 20, 2014

(Asheville Citizen-Times)

The N.C. House defeated a bill Tuesday that included a $12 million incentive to help Evergreen Packaging replace its coal-fired boilers with new natural-gas ones at its Canton paper mill. The Environmental Protection Agency is forcing the company to replace the boilers by 2016, a project the company says will cost $50 million.

Eaton closing Charlotte plant

August 20, 2014

(The Charlotte Observer)

Eaton will close its Charlotte clutch-manufacturing plant, laying off 84 workers by the end of 2015. The Dublin-based company will move Charlotte operations to plants in Indiana and Mexico. Eaton employs more than 4,000 in North Carolina, including 79 at a distribution center in Charlotte.

Creative Loafing Charlotte sold to Triad publisher

August 20, 2014

(News & Record, Greensboro)

Jamestown-based Womack Newspapers Inc., publisher of Greensboro-based YES! Weekly, will acquire Creative Loafing Charlotte. Terms of the deal, expected to close by the end of the month, weren't disclosed.

Developer hopes Asheville outlets will draw tourists

August 20, 2014

(Asheville Citizen-Times)

Asheville Outlets, under construction at the site of the former Biltmore Square Mall, will add 1,341 jobs and $33 million in local spending, according to an economic impact study commissioned by the developer. The 325,000-square-foot shopping center will open in spring 2015.

Family establishes commercial real estate firm in Wilmington

August 20, 2014

(Greater Wilmington Business Journal)

A family of brokers who worked the past five years with Coldwell Banker Commercial Sun Coast Partners has started their own commercial real estate company, Eastern Carolinas Commercial Real Estate.