Business

Hoke County ethanol plant sold to Virginia company

June 2, 2014

(The Fayetteville Observer)

A Danville, Va.-based company that makes biofuel from tobacco has purchased the former Clean Burn Fuels ethanol plant in Raeford. The plant was built in 2010 for $100 million with plans to bring 100 jobs to the area. The company closed the plant after nine months of operation and filed for Chapter 11 bankruptcy protection in 2011.

Pair of York County, SC projects could bring 5,000 jobs

June 2, 2014

(The Charlotte Observer)

York County, S.C. has two large-scale economic development projects in the works that could produce 5,000 jobs and bring in investment of more than $200 million. City Council Chairman Britt Blackwell says he hopes the county, located southwest of Charlotte, will have an announcement in four to six weeks. 

Burlington Industries gets $2.2 million military contract

June 2, 2014

(Winston-Salem Journal)

Burlington Industries was granted a $2.2 million contract to produce fabric for physical training shorts for the U.S. Marine Corps. Burlington, a division of Greensboro-based International Textile Group, has been awarded eight military contracts over the past 12 months. 

Triangle apartment vacancy rate rises as inventory grows

June 2, 2014

(The News & Observer, Raleigh)

The Triangle apartment vacancy rate rose to 7.6% in March, its highest rate since March 2010. Almost 10,000 new apartment units were under construction in March. Average monthly rent also increased by $15 to $913.

Motorola Mobility to close Texas smartphone plant

June 2, 2014

(WRAL.com)

Motorola Mobility will close a Fort Worth, Texas smartphone plant that opened barely a year ago by the end of 2014. Lenovo plans to acquire Motorola Mobility from Google once it receives regulatory approval. The Texas plant makes Moto X phones, which are sold by Raleigh-based Republic Wireless. The plant employs about 700 workers.

SunTrust names Hondros head of wealth-management division

June 2, 2014

(The Charlotte Observer)

SunTrust Banks promoted John Hondros to managing director of its Charlotte and Daytona Beach, Fla. specialty wealth-management offices. The Atlanta-based bank's Sports and Entertainment Specialty Group serves athletes and entertainers. Hondros was most recently a client adviser and senior vice-president for SunTrust in Charlotte.

Mihal named new president of Forsyth Medical Center

June 2, 2014

(Winston-Salem Journal)

Denise Mihal becomes president of Forsyth Medical Center today. The Newark, N.J. native will be the sixth female hospital president at Winston-Salem-based Novant.

Asheboro medical-devices plant to close; 635 workers affected

May 30, 2014

(Winston-Salem Journal)

Arrow International will close its Asheboro plant by 2017 and 635 people will lose their jobs. The company, which makes medical devices including cathethers and surgical kits, is moving production to Mexico. Arrow is owned by Wayne, Pa.-based Teleflex Inc.

St. Augustine's announces furloughs, restructuring

May 30, 2014

(The News & Observer, Raleigh)

St. Augustine's University will eliminate 4% of its workforce and convert 10% of jobs from year-round to 10-month positions. The university also announced one-week furloughs for employees. The changes will save the struggling school $1 million. 

Movie based on 1997 Loomis Fargo robbery to film in NC

May 30, 2014

(Asheville Citizen-Times)

Zach Galifianakis, Owen Wilson and Kristen Wiig will star in a movie set to film in Asheville. "Loomis Fargo," which will also film in Wilmington for a couple of weeks, is based on the 1997 robbery of the Loomis Fargo & Co. vault in Charlotte. Production is scheduled to begin July 7.