Business

BNC Bancorp completes acquisition of Community First

June 3, 2014

(Winston-Salem Journal)

BNC Bancorp has completed its $26 million acquisition of Chapel Hill-based Community First Financial Group, the parent company of Harrington Bank. High Point-based BNC, which operates as Bank of North Carolina, gains three branches and $225 million in assets from the purchase.

Pinehurst Resort buys National Golf Club

June 3, 2014

(The Fayetteville Observer)

Pinehurst Resort has completed its acquisition of National Golf Club. National's Jack Nicklaus-designed golf course will now be called Pinehurst No. 9. Club members will have immediate access to the course and resort guests will be able to play there in early July.

Asheville's HomeTrust bank completes purchase of Jefferson Bancshares

June 3, 2014

(Winston-Salem Journal)

Asheville-based HomeTrust Bancshares completed its $25.2 million purchase of Morristown, Tenn.-based Jefferson Bancshares. HomeTrust gains $506.8 million in assets from the purchase.

NetApp expands in RTP; could add 150 new jobs

June 2, 2014

(WRAL TechWire.com)

NetApp opened a new 155,000-square-foot building at Research Triangle Park and a company spokesman said about 150 new jobs will be generated to staff it. The Sunnyvale, Calif.-based software company employs about 1,600 in RTP.

 

Hundreds of NC teachers attend job fair for Houston school district

June 2, 2014

(The News & Observer, Raleigh)

Hundreds of North Carolina teachers attended a Raleigh recruiting event organized by the Houston Independent School District, the largest school district in Texas. Advertisements for the job fair claimed first-year teachers could earn as much as $16,000 more than those in N.C., which ranks 47th in the nation in teacher pay. 

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.