Business

Salix Pharmaceuticals projects $1.6 billion revenue in 2014

February 28, 2014

(The News & Observer, Raleigh)

Raleigh-based Salix Pharmaceuticals is projecting $1.6 billion in revenue in 2014, the company said in a statement on Thursday. Salix makes drugs for the treatment of gastrointestinal ailments. Revenue for the fourth quarter was up 30% over the same period in 2012.

Harnett County paving company expands into Robeson County

February 28, 2014

(The Fayetteville Observer)

Lillington-based Johnson Bros. Utility and Paving will open a second asphalt plant in St. Paul's and hire 25 workers. The site is still under construction, and the company has not announced when it will open the Robeson County plant.

NY investment firm opens lending office for rental-home owners in Charlotte

February 28, 2014

(The Charlotte Observer)

BR2 Finance, a subsidiary of New York investment firm Blackstone Group, has opened a Charlotte office where it currently has 10 employees. The company loans money to landlords who wish to purchase more rental properties as investments. 

AT&T to hire 130 in North Carolina

February 28, 2014

(The News & Observer, Raleigh)

AT&T will hire 130 people across North Carolina in retail, call center and technician positions. The company invested $1.6 billion in the state over the past few years, and hired more than 1,100 workers in 2013.

Mortgage company selects Charlotte for headquarters

February 27, 2014

(The Charlotte Observer)

Irongate Home Finance will establish its headquarters in downtown Charlotte and will hire 125 people over the next 18 months. The mortgage company anticipates hiring 75 to 100 people per year through 2019. CEO Mark Marashlian said Charlotte's reputation as the second-largest banking center in the country contributed to the company's decision to locate there.

Advocacy group says Duke Energy paid no federal taxes from 2008-2012

February 27, 2014

(The News & Observer, Raleigh)

Citizens for Tax Justice issued a report that claims a corporate tax loophole allowed Charlotte-based Duke Energy to avoid paying federal taxes in recent years. A Duke spokesman says the company's taxes were lowered by bonus depreciation rules and that the utility pays hundreds of millions of dollars in state and local taxes each year.

Chapel Hill-Durham light-rail plan gets federal approval

February 27, 2014

(The News & Observer, Raleigh)

The Federal Transit Administration approved a light-rail line that will run through Orange and Durham counties. The 17-mile line will connect UNC Hospitals, Durham's South Square, Duke University Medical Center and N.C. Central University.

Fayetteville's Prince Charles Hotel will be auctioned

February 27, 2014

(The Fayetteville Observer)

The Prince Charles Hotel in downtown Fayetteville will be auctioned by March 6. A developer had planned to renovate the aging structure but abandoned plans when the city refused to contribute financially to the project.

Festival organizers use studies to predict economic impact

February 27, 2014

(Asheville Citizen-Times)

Organizers of festivals and cultural events such as the upcoming Moogfest in Asheville are commissioning economic impact studies in order to secure government and private funding and to provide a benchmark for determining whether or not an event is successful.

Ruger to make new product lines at Mayodan plant

February 27, 2014

(The Winston-Salem Journal)

Production at Sturm, Ruger & Co.'s firearms manufacturing plant in Mayodan will increase this year, as the company adds new products including new styles of pistols and rifles. The company, which bought the plant in September, currently employs less than 100 but plans to create a total of 473 jobs within five to six years.