Business

Israeli plastics manufacturer chooses Gaston County for new plant

December 15, 2014

(The Gaston Gazette)

An Israel-based plastics manufacturer will invest $13.1 million and create 75 jobs over five years in Bessemer City. Tosaf USA will begin construction on a manufacturing plant in Gaston County – the company's first in the U.S. – in early 2015. A local economic-development leader said access to Northern Southern's rail network and I-85 were critical factors in luring the plant. 

State legislature to consider new autopsy centers

December 15, 2014

(News & Record, Greensboro)

The N.C. General Assembly will consider measures for reform at the state medical examiner's office that could include a $12.4 million autopsy center at Wake Forest Medical Center. Recommendations also include the creation of new autopsy centers in Wilmington and Asheville, an expansion of the medical examiner's office in Mecklenburg County and an $11.5 million replacement autopsy center at East Carolina University in Greenville.

Wilmington apartment sales set local record

December 15, 2014

(Greater Wilmington Business Journal)

Ten Wilmington-area apartment communities comprising 2,679 units have sold for a total of more than $240 million in the past two months, setting what may be an all-time record in transaction volume for the Port City. Nine of the transactions were part of investment-company portfolio sales.

Cary partners with SAS on water-monitoring project

December 15, 2014

(WRAL TechWire)

Cary officials say the town will save an estimated $10 million a year through a new $17.9 million system that monitors water usage. Powered by locally-based SAS Institute, the system will provide residents with customized water-usage alerts and will help town officials identify abnormal spikes in water usage.

High Point's Oak Hollow Mall stuck in transition

December 15, 2014

(News & Record, Greensboro)

Nearly four years after High Point University bought Oak Hollow Mall with plans to house graduate programs there, the mall is still operating as a shopping center, though most of its stores have closed. Dillard's and Sears – two of the mall's five original anchor stores – have not sold their buildings to the university.

DA Davidson initiates coverage of Raleigh's Highwoods

December 15, 2014

(The News & Observer, Raleigh)

Analysts with investment firm D.A. Davidson have initiated coverage of Highwoods Properties, giving the Raleigh-based real-estate investment trust a "buy" rating and putting a 12- to 18-month target price of $50 on its stock.

Durham tech company creates code school to develop local talent

December 15, 2014

(The News & Observer, Raleigh)

Durham-based tech startup Smashing Boxes partnered with South Carolina-based The Iron Yard to start a software code school at American Underground's Durham campus. The website and app-development company's founders created the code school because of difficulty finding talented workers.

Charlotte's new economic development director settles in

December 15, 2014

(The Charlotte Observer)

Charlotte's new economic-development director says he will focus on promoting the Queen City's attributes, including its workforce and logistics hub. Bill Cronin, 49, says the city and and North Carolina shouldn't feel pressured to match every incentive package from competing locations. 

Video-gambling investigation could top $20 million

December 12, 2014

(WRAL.com)

Federal agents have raided at least 190 businesses in 40 North Carolina towns since an investigation into video sweepstakes began in May. A federal court transcript shows a father-son duo convicted of illegal gambling more than a decade ago may be linked to a $20 million gambling ring in Eastern N.C.

Concord airport seeks $79.7M for expansion

December 12, 2014

(The Independent Tribune, Concord)

Concord Regional Airport is requesting $79.7 million from the Federal Aviation Administration for improvements, including a $40 million separate terminal for anticipated growth in commercial flights. Las Vegas-based budget carrier Allegiant Airlines began passenger service last December, and City Manager Brian Hiatt says other carriers have expressed interest in Concord.