Eastern

Wilmington's Lumina Station sells for $14.5M

April 8, 2015

(Greater Wilmington Business Journal)

A Myrtle Beach, S.C.-based REIT has acquired Lumina Station, a 68,794-square-foot office and retail center in Wilmington, for more than $14.5 million. Burroughs & Chapin's portfolio includes entertainment complexes Broadway at the Beach in Myrtle Beach and Barefoot Landing in North Myrtle Beach.

Utility changes would cost Fayetteville $1.6M

April 3, 2015

(Fayetteville Observer)

Fayetteville City Manager Ted Voorhees said Thursday that proposed changes to the town's Public Works Commission would mean a $1.6 million shortfall next year. In response, Voorhees instituted a hiring freeze and requested plans for cuts of up to 10%.

Vidant announces new CEO

April 2, 2015

(The Daily Reflector, Greenville)

Vidant Health on Wednesday named Michael Waldrum CEO. Waldrum was most recently president and CEO of the University of Arizona Health Network. He replaces David Herman, who resigned in October and now leads Essentia Health in Duluth, Minn. Greenville-based Vidant employs 12,000 people and operates eight hospitals in eastern N.C.

International Paper to invest $135M in NC plant, layoffs to follow

April 1, 2015

(StarNews, Wilmington)

International Paper plans to invest $135 million in its Columbus County plant, but the upgrades will result in the loss of an unspecified number of jobs. The conversion, expected to be completed by mid-2016, will allow the mill to move to 100% production of fluff pulp that is used in products including baby diapers. The company employs 740 people at the plant.

DHHS audit finds deficiencies

April 3, 2015

(Greensboro News & Record)

An audit of the state Department of Health and Human Services showed significant errors and deficiencies in its oversight of state programs, including errors in 24% of 272 claims sampled that resulted in $464,942 in overpayment.

Bathtub manufacturer laying off 87 in Wilson

March 31, 2015

(The Wilson Times)

Bathcraft will close its Wilson manufacturing plant and lay off 87 workers. The Remerton, Ga.-based company, which makes showers and tubs for residential homes, said it is closing the plant due to continued uncertainty in the housing market.

GE Hitachi opens training station

March 31, 2015

(Greater Wilmington Business Journal)

GE Hitachi held a ribbon-cutting Monday for a reactor-maintenance training facility at its plant in Castle Hayne. The full-size replica will be used to train hundreds of workers in refueling and maintenance work for the company's reactors worldwide.

Ted Spring sues CFCC trustees

March 30, 2015

(Greater Wilmington Business Journal)

Former Cape Fear Community College President Ted Spring has filed a lawsuit against the school's board of trustees, alleging the group forced him to resign in January. Spring is asking to be reinstated and to be paid damages of at least $25,000.

House approves sale of eastern NC power plants

April 2, 2015

(The Daily Reflector, Greenville)

Gov. Pat McCrory was expected to sign a bill that will allow 32 eastern cites to sell their ownership stakes in five power plants to Duke Energy Progress (Statewide, September 2014). The state House and Senate approved the legislation, which is expected to lower electric rates for customers in those municipalities.

Interest in NC film industry will fade without funding

March 30, 2015

(StarNews, Wilmington)

Film-industry officials say there is still interest in bringing film projects to North Carolina, but without an increase in incentives the state will fall lower down on the list of options. An estimated 20% of the state's 4,000-member crew base has left the state to find work in other locations.

UNCW's Vetter to fill in for Roberts on a temporary basis

March 30, 2015

(Greater Wilmington Business Journal)

UNC Wilmington officials said Ron Vetter, associate provost for research and dean of the graduate school, will assume former CIE executive director Jim Roberts' responsibilities on an interim basis. The school announced Thursday that Roberts had left the position, but didn't give a reason for his departure.

Red Ventures closing Wilmington insurance brokerage

March 27, 2015

(Greater Wilmington Business Journal)

Red Ventures will close the Wilmington office of HomeInsurance.com by June 30, according to former employees. The company had more than 100 employees when Indian Land, S.C.-based Red Ventures acquired it in 2012. The Internet marketing firm announced last year it was adding 580 jobs at its Charlotte sales center.

Roberts out at UNC Wilmington's Center for Innovation

March 27, 2015

(Greater Wilmington Business Journal)

Jim Roberts is no longer the executive director of UNC Wilmington's Center for Innovation and Entrepreneurship, a position he had held since May 2013. University officials didn't provide further details about Roberts' departure or name an interim director.

Vertex Rail awaits regulations, infrastructure improvements

March 25, 2015

(StarNews, Wilmington)

Vertex Rail CEO Don Croteau said he expects about half of the projected 1,300 jobs at the company's rail-car manufacturing site in Wilmington will be filled by July or August, though the company has only hired eight or 10 people. New federal tank-car safety regulations are expected to be released in May, and the company is also waiting for construction of a rail spur.

Wilson anticipates lower power bills after Duke Progress deal

March 23, 2015

(The Wilson Times)

Wilson residents can expect double-digit decreases in electric rates once assets of the N.C. Eastern Municipal Power Agency are sold to Duke Energy Progress (Statewide, September 2014), according to City Manager Grant Goings.

Fayetteville's Methodist University close to fundraising goal

March 20, 2015

(The Fayetteville Observer)

Methodist University in Fayetteville has raised more than $33 towards its $35 million fundraising campaign goal. The university will use the funds for improvements to athletic facilities, a new health-sciences building, a concert hall and other projects. The capital campaign runs through 2016.

Vertex Rail CEO talks future expansion

March 19, 2015

(Greater Wilmington Business Journal)

Vertex Rail CEO Don Croteau said it's possible the company eventually could double the size of its Wilmington plant. The rail-car manufacturer announced plans in November to create 1,300 jobs at the former Terex crane facility; an expansion could add another 1,000 workers.

Wilmington's nCino receives additional investment

March 18, 2015

(Greater Wilmington Business Journal)

Wilmington-based nCino received an investment from San Francisco-based Salesforce Ventures, which provides the platform on which nCino's Bank Operating System is based. The software company did not disclose the amount of the investment. nCino announced last month it raised $29 million in a financing led by private-equity firm Insight Venture Partners.

UNC Wilmington to narrow list of chancellor finalists

March 18, 2015

(Greater Wilmington Business Journal)

UNC Wilmington officials said they hope to name finalists for school's chancellor position on Thursday. The chancellor search committee plans to submit names of three recommended candidates to the university's board of trustees. If the trustees approve the finalists, UNC System President Tom Ross will conduct interviews over the next several weeks.

New Hanover approves road-work funds for Vertex Rail

March 17, 2015

(Greater Wilmington Business Journal)

New Hanover county commissioners approved contributing $300,000 toward a $1.5 million road-improvement project to accommodate rail-car maker Vertex Rail Technologies. The city of Wilmington already approved spending $300,000 and the N.C. Department of Transportation will provide the remaining $900,000. Vertex plans to create 1,300 jobs at its local plant.