Business

Kelly makes it permanent at Piedmont Triad Partnership

February 17, 2015

(Winston-Salem Journal)

Retired Wells Fargo executive Stan Kelly will serve as CEO and president of the Piedmont Triad Partnership on a permanent basis, the economic-development group said. Kelly took over the roles on an interim basis in January, replacing David Powell. Kelly retired last summer as regional president for San Francisco-based Wells Fargo.

Henderson County must wait on road, utility work at Seven Falls

February 17, 2015

(Hendersonville Times-News)

Since Seven Falls developer Keith Vinson was convicted in 2013 on fraud and conspiracy charges, Henderson County is left responsible for completing road and infrastructure work at the failed 1,400-acre development. Federal officials refused to reactivate permits for the work to be completed, and it will take six months to a year to secure new ones.

Public hearing set for offshore drilling

February 17, 2015

(StarNews, Wilmington)

The federal Bureau of Ocean Energy and Management plans to hold a public hearing Tuesday in Wrightsville Beach to discuss drilling for oil and gas off the North Carolina coast. 

Ed Mitchell closes Durham barbecue restaurant

February 17, 2015

(The News & Observer, Raleigh)

Barbecue pitmaster Ed Mitchell has closed his restaurant at the American Tobacco Campus in Durham after being open for less than a year. Mitchell says the space was too small to meet the restaurant's demands and he is looking to reopen in a larger space in the Triangle.

Charlotte airport hiring manager to boost development

February 16, 2015

(The Charlotte Observer)

Charlotte Douglas International Airport plans to hire a new economic affairs manager to help it recruit companies – specifically industrial, warehouse and logistics businesses – that want to locate at or near the airport.  

Leases for offshore wind farms could be issued in 2016

February 16, 2015

(The Daily Reflector, Greenville)

Leases for wind turbines off the coast of North Carolina could be awarded as early as 2016, according to the federal Bureau of Ocean Energy Management. The agency recently held public hearings in three coastal communities that could be impacted by the turbines. Some residents fear the turbines could harm the coastal tourism industry.

First Citizens to acquire Atlanta-based community bank

February 16, 2015

(Winston-Salem Journal)

First Citizens Bank of Raleigh will acquire Capitol City Bank & Trust, a community bank based in Atlanta with eight branches and $275 million in assets. Its the bank's seventh FDIC-brokered acquisition since the financial crisis began in 2007.

IMC buys High Point's Commerce & Design building for $11.2M

February 16, 2015

(High Point Enterprise)

International Market Centers paid $11.2 million for the 9-story Commerce & Design building in downtown High Point, public records show. Based in Las Vegas and High Point, the company plans to invest $2 million in the 257,180-square-foot building over the next five years. The purchase expands its local holdings to 6.7 million square feet.

Report: Canadian pharmaceutical may make bid for Salix

February 16, 2015

(The News & Observer, Raleigh)

Canadian drugmaker Valeant Pharmaceuticals has lined up financing for a possible acquisition of Raleigh-based Salix Pharmaceuticals, according to a report from Bloomberg News. Valeant could offer more than $150 a share, the report says. Salix, which makes drugs for gastrointestinal illnesses, canceled a planned $2.7 billion merger with Italy-based Cosmo Pharmaceuticals last fall.

Loan default won't impact shoppers, tenants at Wilmington mall

February 16, 2015

(StarNews, Wilmington)

A $110 million delinquent loan will not affect day-to-day operations at Wilmington's Independence Mall, according to a spokeswoman from the property-management group that runs the 1 million-square-foot shopping center.