Business

Fort Bragg's 440th Airlift Wing spared another year

July 14, 2015

(The Fayetteville Observer)

The Air Force has delayed the inactivation of the 440th Airlift Wing at Fort Bragg until at least fall 2016. The unit had been scheduled for inactivation Sept. 30.

Broncos kicker launches app in Wilmington

July 14, 2015

(WECT.com)

Denver Broncos kicker Connor Barth, a Wilmington native and UNC Chapel Hill alum, is launching a new app in Wilmington with business partner Ryan Watts. Toast Together helps friends meet up for meals and drinks and track down restaurant specials.

Belk deal would be Sycamore Partners' largest

July 13, 2015

(The Charlotte Observer)

Sycamore Partners is expected to make a $3.5 billion bid for Charlotte-based retailer Belk, which had revenue of more than $4 billion in 2014. It would be the first department-store acquisition for the New York-based private-equity firm, which typically invests in specialty apparel companies. Sycamore in May acquired 330 Family Dollar stores prior to Dollar Tree's acquisition of the Matthews-based retailer.

Asheville has $1B in commercial projects in pipeline

July 13, 2015

(Asheville Citizen-Times)

Commercial real-estate developers have about $1 billion of projects planned for the Asheville area over the next five years, including hotels, retail space, offices and apartments.

Red Ventures hiring 500 in Charlotte area

July 13, 2015

(The Charlotte Observer)

Red Ventures plans to hire 500 salespeople over the next two months. The Indian Land, S.C.-based marketing company says about 40% of the new jobs will be at its Charlotte office in the university area. Founded 15 years ago in Charlotte, Red Ventures now employs 2,500 people.
Also: Red Ventures CEO: We're going to keep growing

Wind farm near Elizabeth City will be first in the Southeast

July 13, 2015

(The News & Observer, Raleigh)

Spanish developer Iberdrola Renewables plans to invest $600 million in a wind farm near Elizabeth City, the first commercial-scale wind farm in the Southeast. Plans call for 102 turbines on a 22-acre tract; 50 more turbines could be added later. The wind farm could generate enough electricity to power about 60,000 homes.

Whitaker Park developers seek fundraising extension

July 13, 2015

(Winston-Salem Journal)

Whitaker Park Development Authority asked the city to extend its deadline from 12 to 24 months to raise between $2 million and $2.5 million for the redevelopment of the former R.J. Reynolds tobacco campus. The authority has raised $750,000 from local governments and the Golden LEAF Foundation. Reynolds said Friday it has donated an 87,000-square-foot building to the authority that will be used as labs for biotech companies; the company plans to donate a total of 120 acres and 1.7 million square feet.

Morganton plant sold; most jobs retained

July 13, 2015

(The News Herald, Morganton)

Louisville, Ky.-based Sypris Solutions has sold its Morganton manufacturing plant to Meritor, its largest customer, for $14.5 million. Meritor offered jobs to 117 of 140 workers who were employed at the plant, which makes components for commercial and industrial vehicles.

Insulation company creating 61 jobs in Huntersville

July 10, 2015

(The Charlotte Observer)

Nutec Group, a Mexico-based insulation company, will invest $19.2 million in a manufacturing facility in Huntersville and plans to hire 61 workers. It will be the company's first U.S. plant.

GE Aviation opens West Jefferson plant, touts importance of EXIM Bank

July 10, 2015

(StarNews, Wilmington)

While urging Congress to restart the federal Export Import Bank, GE Aviation held a grand opening of its West Jefferson machining factory on Thursday. The company has hired 45 workers and plans to hire an additional 60 by 2017 at the $65 million plant. The Ashe County plant is part of GE's previously announced statewide expansion that will account for more than 240 new jobs.