Business

LabCorp announces $6 billion acquisition of New Jersey-based CRO

November 4, 2014

(The News & Observer, Raleigh)

Burlington-based LabCorp will acquire New Jersey-based drug diagnostics firm Covance in a $6 billion cash and stock deal. The deal will allow LabCorp to compete with other drug-testing companies based in the state, including Durham-based Quintiles and Wilmington-based PPD. LabCorp will add 12,500 employees to its existing 34,000 worldwide through the acquisition.

Duke Energy, Red Hat and Piedmont lead initial contributions to EDPNC

November 4, 2014

(The News & Observer, Raleigh)

Charlotte-based Duke Energy and Piedmont Natural Gas and Raleigh-based Red Hat were the top initial donors to the state's new public-private economic-development partnership. The Economic Development Partnership of North Carolina said five companies contributed a combined $440,000 to help the agency get off the ground. Other contributors were Beijing-based Lenovo Group and Charlotte Pipe and Foundry.
Related: Duke Energy donation gives questionable boost to NC economic partnership

Morrison resigns as CMS superintendent

November 4, 2014

(The Charlotte Observer)

Heath Morrison resigned as superintendent of Charlotte-Mecklenburg Schools to spend more time with his family, particularly with his mother who lives in Williamsburg, Va. He did not give specifics regarding his mother's condition. Morrison came to CMS in July 2012. Deputy Superintendent Ann Clark will take over the position in the interim role. 

Brunswick County hopes to attract more retail development

November 4, 2014

(Greater Wilmington Business Journal)

A recent retail study commissioned by Brunswick County's economic development commission shows the coastal county could support more stores and restaurants to attract shoppers who would otherwise travel to Wilmington or Myrtle Beach, S.C. At least one developer is considering the Supply area for a regional retail center.

High Point didn't get its money's worth out of La-Z-Boy deal

November 4, 2014

(High Point Enterprise)

The city of High Point gave La-Z-Boy $600,000 in incentives to move a divisional headquarters there from Greensboro in 2007, and, according to city records, had received only $173,076 in tax and utility revenues through June 2013. The furniture manufacturer is closing the headquarters, where it employs 38 people, over the next two years as part of a restructuring.

Blue Cross adding 30 jobs at Fayetteville call center

November 4, 2014

(The Fayetteville Observer)

Blue Cross and Blue Shield of North Carolina will hire 30 additional customer-service representatives at its Fayetteville call center. The Chapel Hill-based health-insurance company has already hired 45 workers for the new call center, which will open in early December.

Elon University to begin campus expansion projects

November 4, 2014

(News & Record, Greensboro)

Elon University will begin construction in December on a 14,850-square-foot recreation building that will house a gymnasium and fitness center. The school also plans to renovate and expand an arts building and a residential complex. All three projects are expected to be completed by fall 2015. 

Kane Realty pushes for 40-story skyscrapers in Raleigh's Midtown

November 3, 2014

(The News & Observer, Raleigh)

Kane Realty wants Raleigh to allow buildings up to 40 stories high in its Midtown district. The area includes North Hills, the north Raleigh district the local real-estate developer has transformed from a two-story shopping mall into a mixed-use development that includes retail, residential and office space with urban-like density. 
Read more about John Kane, Developer of the Year in Business North Carolina's 2014 Building NC Awards

Hickory's Corning Optical considers headquarters move

November 3, 2014

(Hickory Daily Record)

Corning Optical Communications is starting a 24-month analysis that could result in the fiber-optics company moving its headquarters out of Hickory. A division of Corning Inc., the company is Catawba County's eighth largest employer with more than 1,000 employees, according to the Catawba County Economic Development Corp. The company declined to release employment figures. 

Linamar adding 150 jobs near Asheville

November 3, 2014

(Asheville Citizen-Times)

Linamar will add 150 jobs with an average annual salary of $42,667 and invest $115 million in its Arden plant, where the Guelph, Ontario-based company will make gears for automatic transmissions for an unnamed automobile-maker. About 200 people currently work at the plant, which makes parts for diesel engines and off-road vehicles.