Business

Wilmington officials consider road extension for Vertex Rail

March 3, 2015

(Greater Wilmington Business Journal)

Wilmington City Council will consider a proposal under which the city and New Hanover County would each spend $300,000 toward an extension Raleigh Street that would provide additional road access for Vertex Rail. The N.C. Department of Transportation would contribute $900,000 to the project. Vertex Rail plans to hire 1,300 people at a rail-car manufacturing site in Wilmington.

McCrory pledges to support ECU medical school

March 3, 2015

(The Daily Reflector)

Gov. Pat McCrory said Monday he will add $8 million to his state budget for each of the next two years to support ECU's Brody School of Medicine.

Negotiations fail between Carolinas HealthCare System and insurer

March 2, 2015

(The Charlotte Observer)

A contract between Carolinas HealthCare System and UnitedHealthcare expired Saturday, which means tens of thousands of United customers are now considered out-of-network for CHS providers. The change affects one of Charlotte's largest employers –Duke Energy uses UnitedHealthcare. Charlotte-based CHS said it will extend temporary in-network pricing to some United customers.

Rural-urban divide will shape debate over incentives bill

March 2, 2015

(News & Record, Greensboro)

An influx of Rebublican legislators from rural counties are taking a closer look at the state's rural-urban divide when it comes to economic incentives. "There's not a rural-urban split. There's a Raleigh-Charlotte versus anybody else split," Sen. Andy Wells (R-Catawba) said, referring to employment-growth trends in the state. 

Development ramping up along I-77 south of Charlotte

March 2, 2015

(The Charlotte Observer)

Through large business-incentive packages, the Palmetto State is luring companies to the Fort Mill and Rock Hill areas, just south of Charlotte along I-77. LPL Financial broke ground Thursday on its new Fort Mill, S.C., headquarters, where it will eventually employ up to 3,000 workers. LPL plans to move about 1,000 workers from Charlotte to the new 450,000-square-foot campus. 

Investigations costly for Herbalife

March 2, 2015

(Winston-Salem Journal)

Nutritional-products manufacturer Herbalife spent $9.4 million in fiscal 2014 to comply with an FTC investigation and $16.6 million "responding to attacks on the company's business model" by hedge-fund manager Bill Ackman, who has accused the company of operating a pyramid scheme. Herbalife opened a $130 million plant in Winston-Salem in late 2014, where it expects to employ 500 by year-end. 

Gaston country club tries out 'escape to the office' concept

March 2, 2015

(The Gaston Gazette, Gastonia)

The renovated clubhouse at Cramer Mountain Club will feature 17 executive office suites with golf-course views. The private club closed and entered bankruptcy in 2012. Residents successfully launched a campaign to reform the club, but the massive 35,000-square-foot clubhouse posed a challenge for developer Eric Vargosko. Five of the suites, which range from 630 to 6,000 square feet, have already sold.

GSK, Novartis exchange assets in $21B deal

March 2, 2015

(WRAL TechWire)

GlaxoSmithKline and Novartis have completed a $21 billion deal that makes London-based GSK the world's largest vaccine supplier. Under the terms of the deal, Novartis is acquiring GSK's oncology drug pipeline while GSK acquires Novartis' global vaccine business.  

Sierra Nevada boosts beer tourism in Western NC

March 2, 2015

(Asheville Citizen-Times)

The opening of Sierra Nevada's Mills River brewery has led to increased beer tourism in the Asheville area. A brewery spokesman said there's a two-day wait for weekday tours and a monthlong wait for weekends. Other breweries in the area have reported an uptick in visitors as well.

Fayetteville proposes free downtown Wi-Fi

March 2, 2015

(The Fayetteville Observer)

The city of Fayetteville could partner with Time Warner Cable to provide free Wi-Fi Internet service for much of the downtown area. Under the proposal, Time Warner would allow its subscribers free access in the designated area while nonsubscribers would get one hour of free Internet access per day.