Eastern

Second wood-pellet storage dome going up at Port of Wilmington

July 28, 2015

(Greater Wilmington Business Journal)

Wood-pellet producer Enviva plans to inflate a second storage dome at Port of Wilmington as early as Wednesday, depending on weather conditions. The first dome was erected on June 15.

Big week for Wilmington's Live Oak Bank

July 27, 2015

(Greater Wilmington Business Journal)

Just days before raising nearly $82 million in its initial public offering, Live Oak Bank opened a second building on its Wilmington campus.

Wilmington's Live Oak Bancshares makes public debut

July 24, 2015

(Greater Wilmington Business Journal)

Live Oak Bancshares, parent company of Live Oak Bank, debuted on the Nasdaq exchange Thursday. The Wilmington-based lender had said earlier it planned to offer 4.8 million shares priced at $17 a share, the midpoint of the expected range.

Charlotte's MedSouth acquires medical offices in Wilmington

July 23, 2015

(Greater Wilmington Business Journal)

Charlotte-based MedSouth HealthCare Properties paid $9.5 million for seven medical office buildings in the Wilmington area. The seller was Wilmington-based Panacea Realty.

Wilmington, New Hanover approve incentives for AAI Pharma expansion

July 22, 2015

(StarNews, Wilmington)

Wilmington and New Hanover County agreed to award AAI Pharma up to $500,000 in incentives for a proposed expansion. The company is considering a $20 million investment that would create 50 jobs with an average annual salary of $77,000.

Wilmington City Council says no to offshore drilling

July 22, 2015

(StarNews, Wilmington)

The Wilmington City Council voted unanimously Tuesday to oppose offshore drilling and seismic testing for oil and natural gas. Wilmington joins at least 15 local communities in North Carolina who have passed resolutions opposing the practice. Gov. Pat McCrory and other supporters have said offshore drilling would add jobs and boost the state's economy (Statewide, July).

Wind farm near Elizabeth City could be first of many in the South

July 21, 2015

(Rocky Mount Telegram)

New, larger turbines have made harnessing wind power in North Carolina more feasible than a decade ago, and the $600 million wind farm that will be built in Pasquotank and Perquimans counties could be the first of many in the Southeast.

Wilmington home sales best in 9 years

July 21, 2015

(StarNews, Wilmington)

Realtors in the Wilmington area reported the strongest June home sales in nine years, with 802 single-family homes sold for a total of $207.5 million.

Captrust co-founder donates $5M for ECU entrepreneurship school

July 16, 2015

(The News & Observer, Raleigh)

East Carolina University will establish a school of entrepreneurship, thanks to a $5 million commitment from the co-founder of Raleigh-based Captrust Financial Advisors. J. Fielding Miller and his wife, Kim Grice Miller, provided the donation. Miller is a 1984 graduate of ECU; he co-founded Captrust, which has 22 offices nationwide, in 1997.

Live Oak could raise up to $72.6M in IPO

July 15, 2015

(Greater Wilmington Business Journal)

Wilmington's Live Oak Bancshares could raise up to $72.6 million in its initial public offering, the company disclosed in an SEC filing Monday. Live Oak, a lender to small businesses, plans to offer 4 million shares priced between $16 and $18 per share.

Aircraft to begin hunt for oil and gas in Atlantic Ocean

July 15, 2015

(The News & Observer, Raleigh)

A company that uses aircraft to identify areas that could be potential sources of oil and natural gas says it has received a federal permit to begin evaluating areas off the coast of the Carolinas, Georgia and Virginia. The more controversial practice of seismic testing to locate oil beneath the earth's surface won't begin for at least another year.

Amazon teams up with NC wind farm developer

July 14, 2015

(The News & Observer, Raleigh)

Online retailer Amazon will partner with the Spanish developer of North Carolina's first commercial-scale wind farm. Electricity generated at the wind farm, in Pasquotank and Perquimans counties in northeast N.C., will be use to power Seattle-based Amazon's cloud-computing centers.

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.

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.

Troop cuts hit Fort Bragg

July 10, 2015

(WRAL.com)

Fort Bragg will lose about 1.5% of its military positions as part of a nationwide Army downsizing. The Army will cut 842 active soldier positions and an unspecified number of civilian jobs by 2018. Nationwide, about 40,000 soldiers and 17,000 civilians will be affected by the reductions.

Report: Wilmington mall could be up for sale

July 10, 2015

(Greater Wilmington Business Journal)

Wilmington's Independence Mall, built in 1979, could be put up for sale by a special servicer later this year, according to a Fitch Ratings report. Fitch reported last year that the mall's $110 million loan was in default and had been transferred to CWCapital Asset Management.

Construction to begin on northeast NC wind farm

July 10, 2015

(The Daily Reflector, Greenville)

A Portland, Ore.-based company plans to start construction next week on a wind farm in Pasquotank and Perquimans counties, local officials say. It is unclear how many turbines the company will build right away; a 2011 proposal called for 150, 600-foot-tall turbines.

AAI Pharma looks at expanding in Wilmington

July 9, 2015

(StarNews, Wilmington)

AAI Pharma might add 50 jobs with an average annual salary of $77,000 in Wilmington. The city and New Hanover County are considering $500,000 in incentives for the pharmaceutical company to expand, contingent on AAI Pharma investing at least $20 million.

Port officials seek infrastructure improvments

July 8, 2015

(StarNews, Wilmington)

Officials at Port of Wilmington are seeking to add two new cargo container cranes and replace a docking berth for container vessels, improvements they say could allow the port to handle increased container traffic.