Business

State unemployment rate rises to 6.8%

September 22, 2014

(The News & Observer, Raleigh)

North Carolina's unemployment rate rose for the second straight month, from 6.5% in July to 6.8% in August. The state added 12,500 jobs, led by 8,500 government positions which likely includes new teacher hires.

IBM unveils new RTP data center

September 22, 2014

(WRAL.com)

IBM will unveil a 72,000-square-foot data center at its Research Triangle Park campus on Monday. The Armonk, N.Y.-based tech company operates 150 such centers worldwide and employs about 7,500 in RTP. 

PepsiCo exec to become president of R.J. Reynolds Tobacco

September 22, 2014

(Winston-Salem Journal)

Reynolds-American named Debra Crew president of subsidiary R.J. Reynolds Tobacco Co. effective Oct. 1. Crew comes from PepsiCo, where she has held various executive leadership roles. She replaces Andrew Gilchrist, who will become an executive vice president with the parent company. 

Duke Energy identifies five properties for site-readiness program

September 22, 2014

(Winston-Salem Journal)

Duke Energy has chosen five central N.C. locations for its site-readiness program. Properties selected for the program, which the utility will help market for corporate expansions and relocations, include a 320-acre tract in Guildford County and a 1,470-acre site in Chatham County, which economic developers have touted as a potential "megasite" for an auto manufacturer. Other sites include ones in Lincoln, Rowan and Vance counties.

Yadkin Bank to test smaller branches

September 22, 2014

(The Charlotte Observer)

Yadkin Bank will open a 1,000-square-foot branch in Raleigh during the next year as a part of a pilot project aimed at cutting costs. The branch will be about one-third the average size of the Raleigh-based bank's branches and will employ two full-time employees and one part-time employee.

U.S. government opposes BofA request to throw out 'Hustle' verdict

September 22, 2014

(The Charlotte Observer)

In court filings last week, the federal government expressed opposition to Bank of America's request that a federal judge throw out the jury verdict that found the Charlotte-based bank liable for Countrywide Financial's sale of faulty mortgage bonds to Fannie Mae and Freddie Mac.

Durham's BioCryst receives additional funds for Ebola drug

September 22, 2014

(The News & Observer, Raleigh)

BioCryst Pharmeceuticals announced it could receive another $4 million from the federal government for the development of a potential treatment for the Ebola virus, bringing the total value of its contract with the National Institute of Allergy and Infectious Diseases to $26.3 million.  

New Bern officials hope to redevelop century-old train depot

September 22, 2014

(Sun-Journal, New Bern)

About 1,200 people attended an open house at the shuttered Union Station train depot in New Bern on Sunday. Local officials hope to restore and redevelop the 103-year-old structure, which was abandoned in 1987, to include retail, restaurant and office space. 

HCL Technologies adding 1,237 jobs in Cary

September 19, 2014

(The News & Observer, Raleigh)

HCL America was awarded up to $19.6 million in state incentives to create 1,237 jobs in Cary over the next five years. The technology-services company has created 513 jobs since 2008, when it received a $5 million incentive. The company, a subsidiary of India-based HCL Technologies, chose North Carolina over New York, Arizona and Texas for the new jobs. 

NC solar projects awarded $55 million in federal funding

September 19, 2014

(The News & Observer, Raleigh)

The U.S. Department of Agriculture announced $55.3 million in federal loan guarantees for 22 solar energy projects in North Carolina, including ones in Hertford, Columbus and Warren Counties.