Charlotte

Charlotte City Council approves next phase of airport expansion

September 29, 2015

(The Charlotte Observer)

Charlotte City Council approved spending $7.8 million on design plans for a new, 211,000-square-foot concourse at Charlotte Douglas Interational Airport. The new concourse will add nine gates to the airport's 96. Construction is expected to begin in January.

Charlotte's SPX completes spinoff of flow-products business

September 29, 2015

(The Charlotte Observer)

The new company, called SPX Flow, began trading Monday on the New York Stock Exchange and will manufacture pumps, valves and filtration systems. The remaining company will make and sell transformers, boilers and communication systems. Both companies will be based in Charlotte.

Coke Consolidated to expand distribution footprint

September 25, 2015

(The Charlotte Observer)

The Charlotte-based Coca-Cola bottler will purchase manufacturing facilities in four states from Atlanta-based Coca-Cola, which is divesting its bottling operations. Shares of Coke Consolidated, which recently announced plans to add 140 employees in Charlotte, rose nearly 7% Thursday.

Charlotte's AvidXchange partners with KeyBank

September 25, 2015

(The Charlotte Observer)

AvidXchange, a Charlotte-based accounting software company, received a minority investment from Cleveland-based KeyBank. AvidXchange broke ground this month on a new headquarters where it plans to create more than 600 new jobs. With assets of about $95 billion, KeyBank operates more than 900 branches in 12 states.

Mecklenburg revisits incentive agreements ahead of Time Warner merger

September 24, 2015

(The Charlotte Observer)

Mecklenburg County is reviewing incentive agreements with Time Warner Cable after the company told local employees Monday that some jobs could be relocated after the company's merger with Stamford, Conn.-based Charter Communications. Time Warner was awarded tax rebates in 2004, 2008 and 2011 in exchange for adding new jobs.

Childress Klein gives $2.5M to UNC Charlotte

September 24, 2015

(The Charlotte Observer)

UNC Charlotte's real-estate center will be renamed for Charlotte-based developer Childress Klein. The company donated $2.5 million to the center; with matching state funds, the total impact of the gift will be $3.2 million. The money will be used to endow a professorship and for faculty fellowships and master's degree training programs.

Moynihan keeps chairman title

September 23, 2015

(The Charlotte Observer)

About 63% of shareholders at a special meeting in Charlotte voted to allow Bank of America CEO Brian Moynihan to keep his chairman position. After the meeting, bank executives said they plan to be more engaged with shareholders in the future.

Time Warner-Charter merger may impact Charlotte jobs

September 23, 2015

(The Charlotte Observer)

Employees at Time Warner Cable's Charlotte offices learned that their jobs might be affected by the cable giant's upcoming merger with Charter Communications. Some finance operations could be relocated to Denver, St. Louis or Stamford, Conn., where Charter is based. Time Warner employs 3,140 in the Charlotte area.

Topgolf 'committed' to Charlotte site for its first NC location

September 22, 2015

(The Charlotte Observer)

Topgolf is looking at opening an entertainment complex on 15 acres in southwest Charlotte. The Dallas-based company's centers offer nontraditional golf games for all skill levels with extensive food and beverage options. The company says the complex would create 500 jobs.

Mecklenburg's economic-development director wants to get county more involved in recruiting

September 22, 2015

(The Charlotte Observer)

Peter Zeiler, Mecklenburg County's new economic development director, wants his office to take a more active role in recruiting jobs and developing programs that support entrepreneurship.

BofA shareholder vote could be close

September 21, 2015

(The Charlotte Observer)

A Tuesday shareholder vote that will determine whether Bank of America CEO Brian Moynihan will remain chairman is expected to be close. Several major pension funds are opposed to the bylaw change that eliminates the requirement for an independent chairman, while investor Warren Buffett and others support the change. The bank's largest investors haven't spoken on the issue.

Harris Teeter adds gas stations at two Charlotte area stores

September 21, 2015

(The Charlotte Observer)

In an increasingly competitive grocery market, Harris Teeter is adding gas stations at stores in Harrisburg and Fort Mill, S.C. The Matthews-based grocer, which was acquired last year by Cincinnati-based Kroger, isn't saying if more gas stations are planned.

BofA cuts pay for IT contractors

September 18, 2015

(The Charlotte Observer)

Contract information-technology workers for Charlotte-based Bank of America said they were told to expect a 10% pay cut and a required two-week, unpaid furlough. A BofA spokesman said the changes affect contractors affiliated with the company's global technology and operations unit.

South Carolina offered Electrolux $67 million

September 17, 2015

(The Charlotte Observer)

When Swedish appliance-maker Electrolux looked at expanding its North American headquarters in Charlotte two years ago, South Carolina offered an incentive package worth nearly $67 million, almost double the $34 million offered by North Carolina. Documents from the N.C. Department of Commerce show the Palmetto State tried to lure existing jobs away from Charlotte in addition to the 810 new jobs.

Average apartment rent reaches $1,000 in Charlotte

September 16, 2015

(The Charlotte Observer)

Despite an apartment building boom in Charlotte, the vacancy rate dropped to 5.7% from 6.7% in March while the average monthly rent climbed to $1,000, up from $938, according to a semiannual report by Real Data. More than 12,000 apartments are under construction in the Queen City, with another 13,503 planned. Average rent in the Raleigh/Durham area was slightly higher, at $1008.

Leader of NC Research Campus leaving to take job in Atlanta

September 16, 2015

(The Salisbury Post)

Clyde Higgs is stepping down as executive vice president of operations and business development at the North Carolina Research Campus. A NCRC employee since 2006, Higgs replaced Lynne Scott Safrit as leader of the Kannapolis-based center following her resignation in April. He will become vice president and COO of a major transit and economic-development project in Atlanta.

Charlotte's AvidXchange breaks ground on new HQ, raises $225M

September 15, 2015

(The Charlotte Observer)

AvidXchange broke ground Monday on its new Charlotte headquarters, where the software company plans to create more than 600 new jobs. AvidXchange also said it recently completed a $225 million round of financing led by Bain Capital Ventures.

Hickory's CommScope to acquire Massachusetts-based company

September 15, 2015

(Xconomy.com)

CommScope will acquire Chelmsford, Mass.-based Airvana, which provides equipment for wireless coverage inside buildings, for an undisclosed amount. The Hickory-based telecommunications company recently completed its $3 billion acquisition of TE Connectivity's telecom, enterprise and wireless businesses.

Concord gets $6.4M federal grant for new airport terminal

September 14, 2015

(The Independent Tribune, Concord)

Concord was awarded a $6.4 million grant from the Federal Aviation Administration to build a 25,000-square-foot commercial terminal at Concord Regional Airport. The new terminal will help the airport handle a growing number of passengers since low-cost carrier Allegiant Air began offering service in December 2013.

Victims of Ponzi scheme sue CommunityOne Bank

September 14, 2015

(The Charlotte Observer)

About 30 investors in the Black Diamond Ponzi scheme are suing CommunityOne Bank. The U.S. government said the bank, whose parent company is based in Charlotte, failed to report the $40 million scheme after the bank's computer software detected suspicious activity on mastermind Keith Simmons' account.
Related: "Money for nothing," August 2012