Business

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.

Corning sticks it to Hickory, not surprisingly

December 9, 2015

Corning's plan to move the headquarters of its optical communications division – and 500 jobs – from Hickory to Charlotte over the next two years should send a shiver through thoughtful state leaders, who want all parts of North Carolina to remain robust economically – and not just Charlotte, the Triad and the Triangle.

Longtime SAS employee Jim Davis resigns

December 9, 2015

(The News & Observer, Raleigh)

Jim Davis, a 21-year employee of Cary-based SAS Institute, will take a new job at Informatica, a California-based software company. Davis has been chief information officer of SAS since 2001. SAS, which provides analytics software for corporations, government agencies and educational institutions, employs more than 7,000 in Cary.

Resort proposal sparks debate in Rutherford County

December 9, 2015

(Asheville Citizen-Times)

A $3.7 million proposed development on Lake Lure in Rutherford County has homeowners divided. Tryon Equestrian Partners wants to add a conference center, restaurant and expanded lodge that would provide an economic boost and create 20 full-time jobs, plus seasonal ones. Opponents say the development would increase traffic and spoil the area's peaceful vibe.

GE cancels Electrolux deal, seeks $175M breakup fee

December 8, 2015

(The Charlotte Observer)

Shares of Electrolux fell the most in more than four years after General Electric said Monday it is calling off plans to sell its appliance division to the Swedish company. The U.S. Justice Department had sued Electrolux, seeking to block the merger due to antitrust issues. Electrolux employs about 900 people at its North American headquarters in Charlotte.

Cabarrus mulls incentives for $66M FedEx hub

December 8, 2015

(The Charlotte Observer)

Concord City Council will hold a public hearing Thursday on providing incentives for a FedEx distribution center that would employ more than 350 people over the next five years.

Philips to lay off 50 at Pender County plant

December 8, 2015

(StarNews, Wilmington)

At least 50 people will lose their jobs when Philips closes its plant in Burgaw. Layoffs will begin April 1 and the plant will close by Sept. 1. The Netherlands-based lighting-products manufacturer previously announced it was closing its only other North Carolina plant in Henderson by Jan. 1.

NC lawmakers seek probe of MillerCoors' plant closure

December 8, 2015

(News & Record, Greensboro)

Senate President Pro Tem Phil Berger and Rep. Bert Jones sent a letter signed by 112 North Carolina lawmakers to a U.S. Senate subcommittee seeking an investigation of MillerCoors' decision to close its Eden brewery, idling 520 workers. The announcement was made three days before the MillerCoors' parent company began public merger talks with AB InBev.

Community bank consolidation part of nationwide trend

December 8, 2015

(The Charlotte Observer)

The pending sale of CommunityOne Bancorp to Florida-based Capital Bank will leave Charlotte with just three community bank headquarters, down from seven in 2007. The consolidation of community banks means more market share is being concentrated in the nation's biggest banks, according to a recent report.