Triad

Winston-Salem considers incentives for Herbalife expansion

May 4, 2015

(Winston-Salem Journal)

The Winston-Salem City Council will consider economic incentives for Herbalife to add 301 jobs and invest $2.34 million in its local plant. The Los Angeles-based nutritional-products company is considering relocating its information-services division to Forsyth County. The county last week approved incentives totaling $150,000, and the state could pitch in more than $3 million.

Unifi's recycled yarn turns graduations green

May 1, 2015

(News & Record, Greensboro)

About 300,000 college graduates – including ones at Duke, UNC Chapel Hill and N.C. State – will wear caps and gowns woven with Greensboro-based Unifi's Repreve thread, which is made from recycled materials including plastic bottles. The gowns can be recycled again after ceremonies are over.

Thomasville trucking company reports 36.3% gain in net income

May 1, 2015

(Winston-Salem Journal)

Thomasville-based Old Dominion Freight Line reported first quarter net income of $62.5 million compared with $46.9 million a year ago. Revenue increased 12.2% to $696.2 million.

PTI among nation's most expensive airports

April 30, 2015

(News & Record, Greensboro)

Piedmont Triad International Airport ranked No. 14 among the most expensive airports in the U.S., with an average round-trip fare of $443.91. RDU ranked No. 56, while Charlotte came in at No. 22. The U.S. Department of Transportation released the statistics, included in a quarterly report that surveyed the nation's 100 largest airports.

Charlotte company to build solar farm in Forsyth County

April 29, 2015

(Winston-Salem Journal)

Charlotte-based Fire Solar 1 plans to build a solar farm near Clemmons that will generate enough electricity to power 600 homes. The electricity will be sold to Duke Energy Carolinas.

International Market Centers could raise $185M in IPO

April 28, 2015

(Winston-Salem Journal)

International Market Centers, which owns 6.7 million square feet of furniture-showroom space in High Point, said in a securities filing it plans to price its initial public offering between $12 and $14 a share. The IPO could raise more than $185 million, according to the filing.

Avery Dennison to cut 225 jobs in Lenoir, Greensboro

April 27, 2015

(Winston-Salem Journal)

Avery Dennison will lay off about 225 North Carolina workers as a result of moving manufacturing operations to Honduras and Mexico. The Glendale, Calif.-based company, which makes labels and other packaging materials, will eliminate 142 jobs in Lenoir and 82 jobs in Greensboro.

Greensboro-area leaders to consider new recruiting agency

April 27, 2015

(News & Record, Greensboro)

Now that the Greensboro Partnership has tapped Mississippi's top business recruiter as its CEO, local government leaders must decide whether to offer financial support to that organization or toward the development of a proposed regional agency some say would be more effective at bringing jobs to the area.

Eden residents concerned about coal-ash landfill

April 24, 2015

(News & Record, Greensboro)

Duke Energy's possible plan to build a coal-ash landfill near a low-income neighborhood in Eden is facing resistance from residents and the leader of the local branch of the NAACP.

BB&T reports lower first-quarter profits

April 24, 2015

(Winston-Salem Journal)

BB&T reported net income of $488 million in the first quarter, down 1.6% from the previous year. Loan revenue dropped 5.7% to $1.21 billion, while fee revenue increased 7.6% to $997 million.

Guilford College cuts 52 positions amid budget shortfall

April 23, 2015

(News & Record, Greensboro)

Facing a $2 million budget deficit due to sagging enrollment, Guilford College will eliminate 40 staff positions and 12 faculty jobs in the fall. President Jane Fernandes said most affected positions are currently vacant, and fewer than 20 people will lose their jobs.

Greensboro Partnership adds another Mississippi exec

April 21, 2015

(News & Record, Greensboro)

The Greensboro Partnership hired Virginia native David Ramsey, currently director of the Mississippi Development Authority's Global Business Division, as executive vice president. Ramsey, 34, and new CEO Brent Christensen have worked together for 13 years in Florida and Mississippi and will start work in Greensboro on June 1.

Outlook positive for High Point Market

April 20, 2015

(Winston-Salem Journal)

Furniture manufacturers and organizers of the High Point Market believe improved economic conditions will continue to strengthen the furniture industry. The biannual trade show, which is expected to attract up to 80,000 participants, continues through Thursday.

Davidson County OKs incentives for company expansion

April 17, 2015

(Winston-Salem Journal)

Davidson County commissioners approved an incentive package totaling $175,000 for an unnamed, existing business in the county to add 170 jobs over five years. The company would invest $13 million over two years.

Targacept drug fails clinical trial

April 17, 2015

(Winston-Salem Journal)

Winston-Salem-based Targacept will end development of a drug-compound treatment for a gastrointestinal disorder following a failed clinical trial. The Winston-Salem-based company said in March it would be acquired by California-based Catalyst Biosciences, though that deal could be in jeopardy following Pfizer's decision in April to end a licensing agreement with Catalyst.

Former CEO of Piedmont Triad Partnership under investigation

April 16, 2015

(Winston-Salem Journal)

The Piedmont Triad Partnership said Wednesday that former CEO David Powell is being investigated regarding possible financial irregularities. Officials at the regional economic-development group said they learned of the irregularities after Powell resigned in January.

Natty Greene's explores expansion opportunities

April 15, 2015

(News & Record, Greensboro)

While cities including Rocky Mount and Greenville have shown interest in luring Natty Greene's Pub & Brewing Co. away from Greensboro, co-founder Chris Lester has said he wants to keep the business in the Gate City. The company is seeking financing for a $10 million to $15 million expansion of its production facility.

Rezoning battle continues in Greensboro

April 15, 2015

(News & Record, Greensboro)

A neighborhood group in Greensboro plans to file a protest petition following a zoning commission's decision that will clear the way for an Atlanta developer to build a grocery store, shops and about 20 residential units at the corner of Friendly Avenue and Hobbs Road. The petition will require city council members to vote on the proposal.

Herbalife could add 300 jobs in Winston-Salem

April 14, 2015

(Winston-Salem Journal)

Winston-Salem City Council and the Forsyth County Board of Commissioners will consider whether to award $300,000 in incentives for Los Angeles-based Herbalife to add 300 jobs at its local plant. The new jobs, which would pay an average annual salary of $61,000, would be in addition to the 500 workers the nutritional-products maker has already committed to create by year-end.

High Point looks to energize downtown

April 13, 2015

(Winston-Salem Journal)

Some High Point leaders want to develop a downtown revitalization plan that would attract people year-round. An estimated 75,000 furniture-industry professionals are expected to attend the biannual High Point Market this week.
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