Business

Clinton awarded $1.75M grant for infrastructure for biofuels plant

June 9, 2014

(The News & Observer, Raleigh)

The town of Clinton has received a $1.75 million federal grant to pay for water and sewer infrastructure for a biofuels plant. Italy-based Biochemtex announced in December it will invest $200 million and create 65 jobs at the Sampson County plant, which will create fuel from regionally grown energy grasses.

Greensboro makes short list for Stone Brewing expansion

June 9, 2014

(News & Record, Greensboro)

Greensboro is one of six locations Stone Brewing Co. is considering for an East Coast brewery. The California beer company plans to invest $29 million and hire more than 300 people in its expansion plant. Asheville, Charlotte and Wilmington also submitted bids for the project.

Piedmont Natural Gas reports growth in revenue, profits

June 9, 2014

(The Charlotte Observer)

Piedmont Natural Gas reported second quarter profits of $63 million and revenue of $462 million, 16% higher than the same period a year ago. An increase in new residential construction led to 22% growth in new customers.

Edgecombe County electronics manufacturer receives environmental award

June 9, 2014

(Rocky Mount Telegram)

Keihin Carolina System Technology was among 20 N.C. companies that reached the highest level of the state's Environmental Stewardship Initiative. The plant began improving efficiency in 2011 by eliminating waste and switching from incandescent light bulbs to LED ones.

BNC Bancorp to buy Charleston's Harbor National Bank

June 6, 2014

(Winston-Salem Journal)

BNC Bancorp will acquire Charleston, S.C.-based Harbor Bank Group for $50.6 million. High Point-based BNC will gain $306 million in assets when the deal is completed later this year, raising its total assets to about $4 billion.

Triangle residents concerned over proposed natural gas pipeline

June 6, 2014

(WRAL.com)

Residents in the corridor of a proposed natural gas pipeline are concerned about its safety. Charlotte utilities Duke Energy and Piedmont Natural Gas are seeking proposals from contractors to build and operate the pipeline, which would run through the Triangle area. The project needs federal regulatory approval before construction can begin.

South Korean tool manufacturer creating 53 jobs in Charlotte

June 6, 2014

(The Charlotte Observer)

A South Korean tool manufacturer will invest $13.8 million and create 53 advanced manufacturing and engineering jobs in a Charlotte plant. YG-1 USA will make cutting tools for aerospace, medical and power generation industries. The Charlotte operation also will serve as a research and development hub for the company.

UNC Wilmington chancellor to resign July 31

June 6, 2014

(Greater Wilmington Business Journal)

UNC Wilmington will conduct its second chancellor search in four years when Gary Miller leaves July 31 to lead the University of Wisconsin-Green Bay. Three other administrators have announced plans to leave the university this year.

Moody's affirms Charlotte Douglas bond rating

June 6, 2014

(The Charlotte Observer)

Moody's affirmed Charlotte Douglas International Airport's bond rating and said its outlook is stable, citing its low cost per passenger. The credit rating agency said risks include American Airlines' heavy concentration of flights and ongoing confusion over who will run the airport. 

NC IDEA awards grants to six Triangle startups

June 6, 2014

(WRAL TechWire.com)

Economic development group NC IDEA awarded grants totaling $270,000 to six Triangle startups. Recipients include a Durham company that helps people get out of cell phone contracts and a Raleigh company that helps connect people with home service providers.