American Underground unveils economic-impact study

December 11, 2014

(WRAL TechWire)

Startups at American Underground's three Triangle locations created 323 new jobs over the past 12 months, according to a report the business incubator released on Wednesday. The study shows employees spent $674,700 at establishments in Durham and Raleigh. American Underground's 180 companies raised $20.7 million in funding over the past 12 months.

New developer for retail project at Raleigh's Crabtree Valley

December 11, 2014

(The News & Observer, Raleigh)

Lennar Commercial is the new lead developer for Carolina Row, a mixed-use development planned for 10 acres across from Raleigh's Crabtree Valley Mall. Trademark Property announced plans for the project – which will include up to 175 apartments and 150,000 square feet of retail space – in May. Lennar plans a grand opening for Carolina Row in the fourth quarter of 2016.

Kentucky company in talks to acquire Columbus County railroad

December 11, 2014

(The Fayetteville Observer)

A Kentucky company is close to making a deal to purchase Carolina Southern Railroad in Columbus County, which has pledged $1.8 million in economic-development incentives to the company. Commissioners in Horry County, S.C. also pledged $1.8 million for R.J. Corman Railroad Group to restore the idled rail lines.

Another grocery store proposed for Friendly site in Greensboro

December 11, 2014

(News & Record, Greensboro)

An Atlanta developer wants to build a shopping center anchored by a grocery store at the corner of Hobbs Road and Friendly Avenue in Greensboro. Earlier this year, a different developer proposed building a Trader Joe's grocery store at the site but was forced to drop its plans after neighbors protested the rezoning.

American Airlines adds second flight from Wilmington to NYC

December 11, 2014

(StarNews, Wilmington)

American Airlines plans to add a second daily nonstop flight from Wilmington to New York City in February.

Sanderson Farms plant back on the table in Cumberland

December 11, 2014

(The Fayetteville Observer)

Cumberland County commissioners will hold a public hearing in January on whether to offer incentives for Sanderson Farms to open a $113 million chicken plant that would create about 1,000 jobs. The board informally voted against offering incentives prior to November's election, but two new commissioners have since joined the board.

Reynolds, BAT file requests for lawsuit dismissal

December 11, 2014

(Winston-Salem Journal)

Winston-Salem based Reynolds American and British American Tobacco filed requests this week for the N.C. Business Court to dismiss a lawsuit attempting to block Reynolds' pending acquisition of Greensboro-based Lorillard.

Bank of North Carolina names new market president

December 11, 2014

(The Charlotte Observer)

Bank of North Carolina named Rob Ellenburg president of its North Carolina southern region, which includes the Charlotte area as well as Buncombe and Henderson counties. He replaces Bill Connolly, who is now chief commercial banking officer. BNC Bancorp, parent company of the High Point-based bank, is the ninth largest bank in the Charlotte region by deposits.

High Point University to receive its own zip code

December 11, 2014

(High Point Enterprise)

Starting in 2015, High Point University will have its own unique zip code. A surge in enrollment in recent years has led to the university receiving 93,000 packages this year, compared with 12,000 in 2007.

Entrepreneurs struggle to get loans

December 11, 2014

(Asheville Citizen-Times)

Small businesses in Western N.C. – even those with a track record of success – find it difficult to obtain funding through traditional small-business loans.