Eastern

Surf City joins campaign against offshore drilling

August 5, 2015

(StarNews, Wilmington)

Surf City adopted a resolution Tuesday objecting to offshore drilling and exploration for oil and gas. The coastal town joins other groups and municipalities, including Wilmington, Nags Head and Manteo, in opposing the practice (Statewide, July).

Duke Progress completes $1.25B purchase of eastern NC power plants

August 3, 2015

(The News & Observer, Raleigh)

Residents of 32 eastern N.C. towns could see their power bills slashed by as much as 17% now that the N.C. Eastern Municipal Power Agency has completed the sale of its ownership stake in five power plants to Duke Energy Progress. 

Scotland County works to attract new industry

August 3, 2015

(The News & Observer, Raleigh)

Business owners in Scotland County, which had the second-highest unemployment rate in the state in June, are offering incentives such as free gas, haircuts and country-club memberships to recruit new industry. The county has struggled to recover economically as manufacturers including Abbott Laboratories and WestPoint Stevens have shut down factories, laying off thousands of workers.

Wilmington film festival adding startup conference

July 31, 2015

(Greater Wilmington Business Journal)

Wilmington's Cucalorus Film Festival will expand to include a business conference that will highlight the area's entrepreneurs. The festival is partnering with UNC Wilmington's Center for Innovation and Entrepreneurship and other local groups to add workshops, speakers and more. The 20-year-old festival will be held Nov. 10-15.

Former CFCC president could face criminal investigation

July 29, 2015

(StarNews, Wilmington)

Former Cape Fear Community College president Ted Spring awarded raises and promotions without approval of the board of trustees and used at least $35,993 for personal expenses, according to a report by the N.C. Office of the State Auditor. Spring resigned abruptly in January, later demanded to be reinstated and filed a lawsuit against the school.

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.