Business

Campus Crest closing Charlotte HQ

December 10, 2015

(The Charlotte Observer)

Campus Crest Communities, which is being sold to Harrison Street Real Estate Capital in a $1.9 billion deal, will close its Charlotte headquarters and lay off 70 people. Founded in 2004, the company develops off-campus student housing near large universities.

Sprout CEO leaves company

December 10, 2015

(The News & Observer, Raleigh)

Cindy Whitehead will remain a consultant to Sprout Pharmaceuticals, the Raleigh-based company that was acquired by Canada-based Valeant Pharmaceuticals for $1 billion. Bloomberg reported last month that only 227 women filled prescriptions for Addyi, Sprout's drug designed to boost the female libido, in its first month on the market.

NC farmers urge Duke Energy to buy swine waste

December 10, 2015

(WRAL.com)

Hog farmers in North Carolina don't understand why Duke Energy isn't interested in purchasing more methane – a biogas made from hog waste – from Tar Heel farms to meet the company's renewable energy requirements. Duke officials say the state doesn't have the same infrastructure to convert hog waste into methane as farms in the Midwest.

Electrolux plans job cuts, Charlotte office spared

December 10, 2015

(The Charlotte Observer)

Plans to lay off employees in its small appliances unit won't impact Electrolux's 900 workers at its North American headquarters in Charlotte. The layoffs are unrelated to the Swedish company's failed deal to acquire GE's appliance division, which required Electrolux to pay a $175 million termination fee.

Kinston still courting minor league baseball

December 10, 2015

(Kinston Free Press)

Though a deal to bring minor league baseball to Kinston fell through last summer, the town is still in talks with the Texas Rangers to put a franchise in Grainger Stadium for the 2017 season.

Wood-pellet maker commits $5M for conservation

December 10, 2015

(The News & Observer, Raleigh)

Maryland-based Enviva will donate $5 million over 10 years to protect forests in North Carolina and Virginia from logging and development. The world's largest wood-pellet maker operates two mills in in northeastern N.C. and plans to open a third in Sampson County in 2016.

Arvato shuttering Weaverville facility, 120 layoffs expected

December 9, 2015

(Asheville Citizen-Times)

With DVD and CD sales plummeting in recent years, Arvato Digital Services will close its production plant in Weaverville after 32 years in operation. The plant once employed about 1,500 people.

Greensboro City Council OKs new funding for performing arts center

December 9, 2015

(News & Record, Greensboro)

Greensboro City Council approved a controversial plan requiring the city to take on an additional $9.6 million in bond debt to cover a budget shortfall for a planned performing arts center. The council also approved business incentives totaling more than $1.6 million for local expansions, including Ecolab and Natty Greene's Brewing Company.

Carolinas HealthCare to invest $3B in new buildings, programs

December 9, 2015

(The Charlotte Observer)

Carolinas HealthCare System plans to spend $3 billion on capital projects – including new buildings, technology and programs – over the next six years, with a goal of spending 10% of operating revenue on such projects annually by 2017. The Charlotte-based health care system says its search for a new CEO is on schedule – Michael Tarwater will retire in June after nearly 35 years with the company.

Connaughton: Solid economic gains in 2016

December 9, 2015

(The Charlotte Observer)

North Carolina employers will add 111,200 new jobs in 2016, and the state jobless rate will fall to around 5.2%, according to the most recent forecast by UNC Charlotte economist John Connaughton. He predicts the state's economy will grow by an annual rate of 2.5% next year, led by strong hiring, low gas prices and housing gains.