Triad

Reynolds American reports 8.8 percent gain in third quarter income

October 23, 2013

(The Winston-Salem Journal)

Winston-Salem-based Reynolds American Inc. reported third quarter net income of $457 million, an 8.8 percent gain over the same period last year. The company's earnings were lifted by market share gains among the company's four primary tobacco brands.

VF Corp. reports increased profits for third quarter

October 22, 2013

(The News & Record, Greensboro)

Greensboro-based VF Corp. announced its net income rose 14 percent for the third quarter, to $433.8 million or $3.89 per share, up from $381.3 million for the same period in 2012. Higher sales of its Vans products, which increased 16 percent, and international revenue, which rose 7 percent, contributed to the increase in profits.

Six HondaJets in production at Piedmont Triad plant

October 22, 2013

(The Winston-Salem Journal)

Honda Aircraft has six HondaJets on the assembly line at its Piedmont International Airport plant and announced it hopes to have the first aircraft ready by the end of 2014. Certification delays with the Federal Aviation Administration have kept the plane from receiving full approval.

Forsyth Tech will open center in Wake Forest Innovation Quarter

October 22, 2013

(The Winston-Salem Journal)

Forsyth Technical Community College announced Monday it will open a $7 million Center for Emerging Technologies at Wake Forest Innovation Quarter. FTCC will move its Small Business Center and Corporate Training Center to the 24,000-square-foot space, which is scheduled to open in September.

Corporate park planned for High Point annexation area

October 22, 2013

(The High Point Enterprise)

High Point plans to partner with a Lexington real estate firm to develop a 350-acre corporate park on Forsyth County site which could be annexed by the city. The city agreed to provide water and sewer service to the site; Carolina Investment Properties of Lexington plans to invest $50 to $70 million to develop the first 100 acres of the site.

Novant Health to partner with Georgia community hospital

October 21, 2013

(The Winston-Salem Journal)

Winston-Salem-based Novant Health announced it is forming an operational partnership with a community hospital in Hinesville, Ga., the fifth hospital partnership the health-care system has made since being formed in 2012 and its third in Georgia.

Major transformation taking place in downtown Greensboro

October 21, 2013

(The News & Record, Greensboro)

Development projects announced or underway in downtown Greensboro add up to $200 million, with more private deals yet to be announced. Most of the projects are on the city's north side, including a new $65 million performing arts center.

High Point Market expands "Made in America" pavilion

October 21, 2013

(High Point Enterprise)

At this week's High Point Market, a 25,000-square-foot exhibit space is dedicated entirely to domestically produced goods. The pavilion was introduced two years ago but has doubled in size as consumer demand for American-made furniture grows.

High Point Market opens Saturday; organizers relieved federal default averted

October 18, 2013

(The High Point Enterprise)

Leaders of the High Point Market expressed relief about the federal government's decision to raise the debt ceiling and avoid default, improving the economic outlook for visitors heading into the market this weekend. This year's market officially begins Saturday, bringing tens of thousands of furniture manufacturers and retailers to the area.

BB&T profit down 43 percent after federal charge

October 18, 2013

(The Winston-Salem Journal)

Winston-Salem-based BB&T Corp. reported a 43 percent decline in profit for the third quarter to $268 million, down from $469 million a year ago. The decline was expected after the bank took a $235 million charge related to a federal tax adjustment. 

Mount Airy's Insteel reports nearly threefold increase in profit

October 18, 2013

(The Winston-Salem Journal)

Insteel Industries, a Mount Airy-based manufacturer of steel wire reinforcing products, reported net income of $2.34 million for its fourth quarter compared with $833,000 a year ago. 

Half of Maidenform workers to lose jobs in Hanesbrands merger

October 17, 2013

(The Winston-Salem Journal)

About half of Maidenform Brands Inc.'s global workforce will lose jobs as a result of the apparel manufacturer's merger with Winston-Salem-based Hanesbrands Inc. The company will close Maidenform's New Jersey headquarters and hire 130 at its Winston-Salem operations. A Fayetteville Maidenform distribution center will be closed by the end of 2014.

Hearing scheduled after complaints filed over Yadkin solar farms

October 17, 2013

(The Winston-Salem Journal)

A public hearing has been scheduled for Nov. 19 after complaints were filed with the N.C. Utilities Commission over two proposed solar farms in Yadkin County. Chapel Hill-based Strata Solar LLC has proposed two 5-megawatt farms in rural parts of the county. The chief complaint about the projects is potential devaluation of property values. 

Vaccine distributer to open center in Greensboro

October 16, 2013

(The Winston-Salem Journal)

A Temacula, Calif.-based biopharmaceutical company announced it will open a logistics center and specialty pharmacy operation in Greensboro. FFF Enterprises, which distributes influenza vaccines and other biopharmaceutical products, will spend $7.6 million and create 31 jobs over three years. 

Stanley Furniture reports third quarter loss of $2.5 million

October 16, 2013

(The Winston-Salem Journal)

High Point-based Stanley Furniture Industries Inc. reported a loss of $2.5 million in its fiscal third quarter, or 17 cents a share, compared with a $1.9 million loss a year ago. While sales were unchanged from a year ago, the company says it has spent money during the past year at its Robbinsville plant and relocating its headquarters to High Point.

Guilford prison farm site could attract data center, manufacturer

October 15, 2013

(The News & Record, Greensboro)

According to a county official, a couple of companies have already inquired about the 800-acre Guilford County Prison Farm site proposed for a major economic development project. The site's size and location suggest it could be used for a data center or advanced manufacturing.

High Point University renames center after Ashley Furniture exec

October 15, 2013

(The Winston-Salem Journal)

In a campus ceremony to be held on Wednesday, High Point University will rename its university center the R.G. Wanek Center honoring the chairman of Ashley Furniture Industries Inc. The Ronald and Joyce Wanek Foundation gave the school an unrestricted $10 million gift to the university in August. Ashley is currently expanding its furniture distribution center in nearby Davie County.

Electric car maker to open charging station in NC

October 15, 2013

(The News & Observer, Raleigh)

Palo Alto, Calif.-based Tesla Motors, an electric car manufacturer, will open a high-speed charging station this week along Interstate 85 in Burlington. The company plans to open 50 charging stations nationwide by the end of the year.

Hanesbrands likely to continue outsourcing yarn production

October 14, 2013

(The Winston-Salem Journal)

According to a BB&T analyst, Winston-Salem-based apparel manufacturer Hanesbrands Inc., which just announced its completed merger with Maidenform, is not expected to employ the same domestic manufacturing initiatives as Gildan Activewear Inc., which plans to invest $250 million in yarn-spinning plants in North Carolina.

BB&T launches leadership gaming app

October 11, 2013

(The Winston-Salem Journal)

Winston-Salem-based BB&T introduced a free mobile gaming app targeted to college students and young professionals on Thursday. The game, called Legacy, is a leadership challenge with a medieval theme. The bank has has been involved in leadership-skill development for more than 30 years.