Triad

Wake Forest Innovation Quarter fuels growth in downtown Winston-Salem

May 18, 2015

(Winston-Salem Journal)

Originally conceived as a research park in downtown Winston-Salem in the early 1990s, Wake Forest Innovation Quarter has evolved but is still a work in progress. The innovation district, which is anchored by Inmar, Wake Forest Baptist Medical Center and a Wells Fargo data center, has 85 acres of developed land with 60 acres to be developed.

Randolph megasite taking shape

May 14, 2015

(News & Record, Greensboro)

Triad leaders hope a site of up to 1,800 acres will compete with other megasites in Chatham and Edgecombe counties. On June 1, Randolph County commissioners will consider spending $5.87 million to purchase 170 acres of land. The county paid $4.2 million for 255 acres earlier this year.

Novant seeks proposals for Louisburg hospital

May 12, 2015

(Winston-Salem Journal)

Novant Health is exiting the Triangle market with plans to sell Franklin Medical Center in Louisburg. The Winston-Salem-based hospital system announced in October it was reducing the number of inpatient beds at the hospital from 83 to 15.

Herbalife incentives still up in the air

May 12, 2015

(Winston-Salem Journal)

Some members of the Winston-Salem City Council were unimpressed with an Herbalife report showing 30 of its 75 local managers are members of a racial minority because only five are black. The Los Angeles-based company is seeking incentives to bring another 300 jobs to Winston-Salem.

Wells Fargo cuts ownership stake in Krispy Kreme

May 12, 2015

(Winston-Salem Journal)

Wells Fargo has cut its stake in Winston-Salem-based Krispy Kreme Doughnuts and is now the company's No. 4 institutional investor, down from No. 2. The San Francisco-based bank said in a regulatory filing Monday it cut its shares from 5.19 million to 2.62 million, or 4.04%.

Randolph wants to buy more land for megasite

May 11, 2015

(News & Record, Greensboro)

Randolph County commissioners will hold a public hearing June 1 to discuss plans to purchase a second parcel of land for a megasite it hopes will attract an automaker. The county has acquired 255 acres of a proposed 1,800-acre site.

Bank of the Carolinas to be acquired for $64M

May 8, 2015

(Winston-Salem Journal)

Mocksville-based Bank of the Carolinas will be sold to Bank of the Ozarks for $64.7 million in stock. The Little Rock, Ark.-based bank will increase its N.C. deposits from $596.2 million to $963.7 million, giving it the No. 19 market share in the state.

Davie approves incentives for manufacturer to add 50 jobs

May 6, 2015

(Winston-Salem Journal)

Davie County commissioners approved nearly $800,000 in incentives for Avgol to expand its Mocksville manufacturing plant. The company plans to add 50 jobs to its existing 220 and will add 100,000 square feet. The Israel-based company makes nonwoven materials for baby diapers and other products.

Alamance approves incentives for grocer to bring 200 jobs

May 5, 2015

(The Times-News, Burlington)

Alamance County commissioners approved incentives for German grocery chain Lidl to build an 850,000-square-foot regional headquarters and distribution center that would create 200 jobs. The company plans to begin opening stores in the U.S. by 2018.

Winston-Salem postpones vote on Herbalife incentives

May 5, 2015

(Winston-Salem Journal)

The Winston-Salem City Council delayed voting on an incentives package for an Herbalife expansion after some council members expressed concerns that the Los Angeles-based company doesn't have enough minority workers in top positions. About 56% of Herbalife's local workforce is minority.

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.