Triad

CSX plans $272 million cargo hub in Johnston County

January 15, 2016

(The News & Observer, Raleigh)

The 450-acre intermodal railroad terminal could attract new employers to eastern N.C. and move more goods through the Port of Wilmington. Jacksonville, Fla.-based CSX is seeking $100 million from the state to help finance the project, which will create 300 construction jobs.
Also: Proposed CSX intermodal terminal would mean boost for port

Winston-Salem's Novant partners with CVS Health

January 15, 2016

(Winston-Salem Journal)

CVS will be able to exchange electronic health records including patients' prescription pickups and MinuteClinic visit summaries with Novant Health's doctors.

Medical products company laying off 250 in Greensboro

January 14, 2016

(News & Record, Greensboro)

ConvaTec, a global medical products company, said it will close its Greensboro manufacturing plant and about 250 people will lose their jobs. The company, whose products include wound dressings and insulin pumps, employs more than 9,000 in 8 countries, according to its website, and is owned by Nordic Capital and Avista Capital Partners.

Reynolds sells international rights to premium brand

January 14, 2016

(Winston-Salem Journal)

Reynolds American completed the $5 billion sale of international rights to Natural American Spirit, its additive-free cigarette, to Japan Tobacco Group. International rights to nearly all the company's cigarette brands are now owned by international tobacco companies, allowing Reynolds and its subsidiaries to focus on growing their brands in the U.S. The deal also provides some debt relief after last year's $29 billion acquisition of Lorillard.
More on RAI: In a market that lacks fire, this stock is smokin' hot

Elon Law opens incubator in downtown Greensboro

January 13, 2016

(News & Record, Greensboro)

Four recent graduates of Elon University School of Law have committed to work for 18 months at a new incubator that will offer free or discounted legal services to low-income clients. The attorneys will also have their own solo practices as part of the new venture.

First look at Reynolds Building apartments

January 12, 2016

(Winston-Salem Journal)

The first tenants of The Residences @ the R.J. Reynolds Building will move in in March, according to developer PMC Property Group. The historic 22-story building, the tobacco company's former headquarters, will house a boutique hotel and 117 upscale apartments. Rent starts at $995 a month for a one-bedroom unit.

Tech company could expand in Winston-Salem

January 11, 2016

(Winston-Salem Journal)

Kailo Healthcare Technologies is considering an expansion that would add 251 jobs over five years in Winston-Salem, where it currently employs about 50 people. The Cedar Falls, Iowa-based company provides consullting and information-technology services for the health care industry.

Guilford approves incentives for Ecolab expansion

January 8, 2016

(News & Record, Greensboro)

Guilford County commissioners approved $175,680 in incentives for Ecolab to expand. The company, which supplies cleaning products for the food service industry, is also considering Dallas for the expansion, which would involve a $27 million investment and add 35 jobs. Greensboro City Council has already approved incentives totaling $193,768.

Novant cements partnership with UVA

January 7, 2016

(Winston-Salem Journal)

Under a new partnership that was finalized Jan. 1, Novant Health has taken over management of 70-bed UVA Culpeper Regional Hospital and is now majority owner of a  new regional health system in northern Virginia. Winston-Salem-based Novant holds a 60% stake in the partnership, called Novant Health UVA Health System.

Olde Mecklenburg exits Triad; blames NC beer law

January 7, 2016

(News & Record, Greensboro)

Charlotte's Olde Mecklenburg Brewery is closing its Greensboro warehouse and scaling back Triad expansion plans. The brewery blames a state law that requires craft brewers to use a third party distributor once production reaches 25,000 barrels a year. Nearing that threshold, Olde Mecklenburg says it is pulling out of the Triad "in order not to underserve Charlotte – our home market."

NC Railroad Co. land buy juices Triad hopes for an auto plant

January 7, 2016

The announcement Tuesday that the state-owned N.C. Railroad Co. would buy about 875 acres in a Randolph County industrial megasite for $13 million is "a marriage meant to be," says Jim Melvin, former Greensboro mayor, current octogenarian and Triad booster extraordinaire.

NC Railroad bets on Triad megasite

January 6, 2016

(News & Record, Greensboro)

The North Carolina Railroad Co. said Tuesday it will pay about $13 million for 875 acres within the Greensboro-Randolph Megasite, adding to the 421 acres Randolph County purchased in 2015. Regional leaders hope the megasite will help the area attract a car plant or other large-scale manufacturer.

New Reynolds American subsidiary to focus on vapor products

January 6, 2016

(Winston-Salem Journal)

RAI Innovations was established to help the Winston-Salem-based tobacco company develop new vapor and nicotine products and bring them to market faster. Carolyn Hannigan will become president of the new subsidiary. Reynolds' Vuse is the top-selling electronic cigarette in the United States.
Blowing smoke: E-cigarettes and vaping are making a push into the mainstream

North Carolina's new prosperity hasn't reached many areas

December 28, 2015

(Greensboro News and Record)

About 300,000 more people are working in North Carolina this year than at the beginning of 2007, but virtually all of the growth occurred in the Triangle and Charlotte metro areas, a study of employment statistics show. Twenty-six N.C. counties have lost jobs over the past year. The Triangle and Charlotte have added more than 380,000 jobs since 2007, while the Greensboro-Winston-Salem area has expanded by fewer than 3,500.

PTI says no to Uber drivers

December 24, 2015

(Winston-Salem Journal)

Uber drivers waiting for customers at Piedmont Triad International Airport will now have to park off-site. Executive Director Kevin Baker says that's due to the airport's contract with a local cab company. RDU recently announced a new agreement with Uber and Lyft: The airport will charge a $1 fee for every airport trip and has designated a staging area for the ride-hailing services.

Shareholder sues over NewBridge-Yadkin merger

December 24, 2015

(Winston-Salem Journal)

A NewBridge Bancorp shareholder is suing the company's executives and board of directors, claiming they undervalued the Greensboro-based bank in its proposed $456 million sale to Raleigh-based Yadkin Financial.

American Banker magazine names BB&T's King Banker of Year

December 22, 2015

(The Winston-Salem Journal)

American Banker magazine named BB&T Chairman Kelly King as its banker of the year, citing his 26 years as a senior BB&T manager and the bank's completion of two major acquisitions. King, 67, has no retirement plans. Since he became CEO in 2009, BB&T has grown from $136.5 billion in total assets to $220 billion, pending completion of its purchase of National Penn Bancshares Inc.

German grocer breaks ground on regional hub

December 21, 2015

(News & Record, Greensboro)

Work has begun in Alamance County on a new regional distribution center for Lidl, one of the world’s largest grocery and household retailers. Lidl has about 10,000 stores in 26 countries. Now, it's eyeing North Carolina with plans for stores in Cary, Charlotte, Lexington, Raleigh and Winston-Salem. The discount retailer, similar to Aldi, said it planned to invest $125 million in the 50,000-square-foot facility in Alamance County after Graham and Mebane approved a nearly $5.38 million incentive package to lure the grocer.

 

 

National Penn shareholders approve BB&T merger

December 18, 2015

(Winston-Salem Journal)

Shareholders of National Penn Bancshares on Wednesday approved the company's $1.8 billion sale to BB&T, a deal that will give the Winston-Salem-based bank about $220 billion in assets. Though the deal was approved, some shareholders apparently weren't happy with the $13 per share payout or losing their hometown bank. "I almost literally held my nose for this vote," one shareholder told the Allentown (Pa.) Morning Call.

Teamsters rally to protest job losses at Eden brewery

December 16, 2015

(News & Record, Greensboro)

About 50 people turned out Tuesday for a rally protesting the planned closure of the MillerCoors plant in Eden. A local Teamsters group organized the rally. More than 500 people making an average salary of $60,000 will lose their jobs when the brewery shuts down next year ("Crying in their beer," November.)