Eastern

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.

Fort Bragg awaits troop cuts announcement

July 8, 2015

(The Fayetteville Observer)

Army officials are expected to announce Thursday cuts affecting 40,000 soldiers and 17,000 Army civilians, though it is unclear how the cuts will impact Fort Bragg, where more than 10% of the Army's soldiers are based.
Also: Army troop cutdown not expected to widely impact Fort Bragg

Pork industry doesn't want renewable-energy law to change

July 7, 2015

(The News & Observer, Raleigh)

Pork producers in North Carolina, who have spent millions developing ways to turn hog manure into fuel, are urging state legislators not to change a renewable energy policy that requires utilities to use swine waste to produce electricity.

Robeson County residents await coal-ash removal

July 6, 2015

(The Fayetteville Observer)

Landowners and residents near Duke Energy's Weatherspoon Plant in Robeson County are grateful the Charlotte-based utility plans to remove coal ash from basins at the retired power plant.

Pipeline meeting attracts hundreds in Nashville

July 2, 2015

(The Wilson Times)

Hundreds of Wilson and Nash property owners filled the Nash Agriculture Center Tuesday for the first landowner-organized meeting for the proposed Atlantic Coast Pipeline project. The natural gas pipeline will have the capacity to transport 1.5 billion cubic feet of natural gas per day.

 

Brunswick County to create economic-development department

July 1, 2015

(StarNews, Wilmington)

Fast-growing Brunswick County will establish an economic-development department Wednesday after all members of a local economic-development commission resigned. Brunswick County Manager Ann Hardy will become interim director of the new department, while Jim Bradshaw, executive director of the commission, will become a special adviser until he retires in October.
Related: Board of economic development group resigns, Greater Wilmington Business Journal

Rooms to Go seeks to fill 225 jobs in Dunn

July 1, 2015

(The Fayetteville Observer)

Rooms to Go will begin hiring this month for its Dunn distribution center, which is expected to open in August. The $40 million project will create the company's second largest U.S. distribution center.

Armstrong Marine debuts first boat

June 30, 2015

(Jacksonville Daily News)

Armstrong Marine has completed the first boat at its Onslow County facility. The Port Angeles, Wash.-based company announced last year plans to hire up to 200 people at the former Hatteras Yacht plant, which closed in 2008. Armstrong makes aluminum boats for law-enforcement agencies, the military and others.

I-40 has boosted economy, strained local roads in the Port City

June 29, 2015

(StarNews, Wilmington)

New Hanover County's population has grown from 120,284 to more than 216,000 since the last segment of Interstate 40 was completed in 1990, while Brunswick County's population has more than doubled. Now the N.C. DOT and local leaders are at odds over how to alleviate increased congestion on city streets.

Uber expands to NC beach towns

June 29, 2015

(StarNews, Wilmington)

Uber has expanded the availability of its ride-hailing service to coastal communities along the East Coast, including Beaufort, Wrightsville Beach and the Outer Banks in North Carolina.

Report: Outer Banks national parks at risk

June 25, 2015

(The News & Observer, Raleigh)

A new study shows the Outer Banks could lose cultural resources including lighthouses and forts valued at more than $2 billion due to sea-level rise. The report, released by the National Park Service, says seas are expected to rise by 1 meter during the next 100 to 150 years.
Related: Land's end: As the shoreline creeps closer, leaders debate the need for action or restraint

Pender County approves 34% tax hike

June 24, 2015

(StarNews, Wilmington)

Pender County commissioners approved a 34% property-tax increase to help pay for infrastructure improvements in the rapidly growing coastal county. The owner of a $250,000 home will pay about $1,700, up from $1,225 annually.

Wilmington's Live Oak Bank files for IPO

June 23, 2015

(Greater Wilmington Business Journal)

Live Oak Banshares plans to raise $86.2 million in an initial public offering, according to a statement filed with the Securities and Exchange Commission. The parent of Wilmington-based Live Oak Bank, an SBA lender, filed for an IPO last April but changed its plans after receiving an investment from Boston-based Wellington Management.

The paradoxical image of Vertex Rail

June 22, 2015

(Greater Wilmington Business Journal)

Seven months after Vertex Rail announced plans to hire 1,300 people at a manufacturing site in Wilmington, another company led by CEO Don Croteau has filed for bankruptcy and the company has said it joined a new joint venture with a private-equity partner and a Chinese rail-manufacturing firm.

Wilmington shopping centers sell for $192M

June 19, 2015

(StarNews, Wilmington)

CBL & Associates Properties, a Chattanooga, Tenn.-based REIT, paid $192 million for Wilmington's Mayfaire Town Center and the smaller Mayfaire Community Center. Mayfaire Town Center, a mixed-used development, was started in the early 2000s. Anchor tenants include Belk and a 16-screen Regal Cinemas movie theater.

Williams Mullen to vacate Wilmington office

June 19, 2015

(Greater Wilmington Business Journal)

Williams Mullen will close its Wilmington office by the end of August, consolidating with its Raleigh offices. The law firm, which has 230 attorneys in the Carolinas, Virginia and Washington, D.C., says it will continue to serve its Wilmington clients.