Triangle

Raleigh's First Citizens to acquire SC-based bank

June 11, 2014

(The News & Observer, Raleigh)

Raleigh-based First Citizens Bancorp will merge with the parent company of Columbia, S.C.-based First Citizens Bank and Trust, a privately held bank with 176 branches. Frank Holding Jr., chairman and CEO of the Raleigh-based First Citizens, will lead the combined bank. The Holding family owns a controlling interest in both banks.

Pittsboro approves 7,500-acre Chatham Park community

June 10, 2014

(The News & Observer, Raleigh)

The Pittsboro Board of Commissioners voted 4-1 to approve the master plan for Preston Development Co.'s Chatham Park, a 7,500-acre community that could bring 60,000 residents over several decades. Developers tout the plan as "smart growth" that will help the city avoid problems associated with urban sprawl.

Cisco to add 550 jobs at RTP

June 9, 2014

(WRALTechWire.com)

Cisco Systems will expand its workforce at Research Triangle Park by 10% and will invest $1.6 million. Average annual salary for the 550 new jobs will be $72,700. The San Jose, Calif.-based telecommunications equipment manufacturer will receive up to $12.9 million in state incentives.

Pinehurst readies for back-to-back U.S. Opens

June 9, 2014

(News & Record, Greensboro)

The U.S. Open's success in Pinehurst is due in part to support from metro areas including Charlotte, Greensboro and Raleigh, according to Reg Jones, the Open's director of operations. Officials expect up to 55,000 people per day to attend this week's Open and as many as 25,000 for the Women's Open next week.

Pittsboro leaders close to decision on Chatham Park development

June 9, 2014

(The News & Observer, Raleigh)

The Pittsboro Board of Commissioners could vote tonight on Preston Development Co.'s plan for a project that would add 22,000 homes to the town of 4,000 people over the next few decades. 

Triangle residents concerned over proposed natural gas pipeline

June 6, 2014

(WRAL.com)

Residents in the corridor of a proposed natural gas pipeline are concerned about its safety. Charlotte utilities Duke Energy and Piedmont Natural Gas are seeking proposals from contractors to build and operate the pipeline, which would run through the Triangle area. The project needs federal regulatory approval before construction can begin.

NC IDEA awards grants to six Triangle startups

June 6, 2014

(WRAL TechWire.com)

Economic development group NC IDEA awarded grants totaling $270,000 to six Triangle startups. Recipients include a Durham company that helps people get out of cell phone contracts and a Raleigh company that helps connect people with home service providers.

Developer planning innovation cluster in downtown Durham

June 5, 2014

(The Herald-Sun, Durham)

Boston-based Longfellow Real Estate Partners is studying the possibility of building an urban research cluster for life sciences and technology companies. Durham Innovation District would be near a former tobacco warehouse where Duke University is relocating research labs and offices. The private development firm already has 10 acres of land in the proposed area under contract.

Corporate sales robust for U.S. Open in Pinehurst

June 5, 2014

(The Fayetteville Observer)

The USGA sold out all corporate hospitality packages for the upcoming U.S. Open in Pinehurst, though corporate sales are still less than in 2005, the last time Pinehurst hosted the event. Reg Jones, senior director of U.S. Open Championships, said the local economic impact of the golf tournament will probably exceed $150 million. (Go inside the business of corporate hospitality tents in our April issue)

GlaxoSmithKline to pay NC $2.5 million in settlement

June 5, 2014

(WRAL TechWire.com)

North Carolina will receive $2.5 million as part of a $105 million setttlement in a case allegeing GlaxoSmithKline improperly marketed three drugs. United Kingdom-based GSK has its North American headquarters in Research Triangle Park.

Triangle to get AT&T fiber sooner if DirecTV deal is approved

June 4, 2014

(WRAL TechWire.com)

AT&T's proposed acquisition of DirecTV would allow the telecommunications provider to expand its fiber network and increase home Internet speeds. The company has said it will build one of its first new fiber networks in the Triangle. In a regulatory filing, AT&T also said it will save $1.6 billion a year after the merger, mainly due to lower costs for TV programming, which would allow it to expand broadband coverage.

Lenovo, IBM seeking more time for federal review of proposed deal

June 4, 2014

(WRAL TechWire.com)

IBM and Lenovo are seeking an extension for a U.S. government review of the proposed deal in which Lenovo would acquire IBM's x86 server unit for $2.3 billion, Bloomberg reports. Both companies say the deal is still on track to close by year-end. Beijing-based Lenovo would gain 2,000 of IBM's employees as part of the acquisition and has said it does not plan any layoffs.

Harris Teeter to sell LunaPops frozen treats

June 4, 2014

(Greater Wilmington Business Journal)

Harris Teeter will carry Hillsborough-based LunaPops popsicles in 180 of its grocery stores. LunaPops was started in Wilmington in 2008 and offers flavors including Sea Salt Caramel, Raspberry Chocolate Chip and Rhubarb Lime. Matthews-based Harris Teeter was acquired by Cincinnati-based Kroger Co. in January.

Pinehurst Resort buys National Golf Club

June 3, 2014

(The Fayetteville Observer)

Pinehurst Resort has completed its acquisition of National Golf Club. National's Jack Nicklaus-designed golf course will now be called Pinehurst No. 9. Club members will have immediate access to the course and resort guests will be able to play there in early July.

NetApp expands in RTP; could add 150 new jobs

June 2, 2014

(WRAL TechWire.com)

NetApp opened a new 155,000-square-foot building at Research Triangle Park and a company spokesman said about 150 new jobs will be generated to staff it. The Sunnyvale, Calif.-based software company employs about 1,600 in RTP.

 

Triangle apartment vacancy rate rises as inventory grows

June 2, 2014

(The News & Observer, Raleigh)

The Triangle apartment vacancy rate rose to 7.6% in March, its highest rate since March 2010. Almost 10,000 new apartment units were under construction in March. Average monthly rent also increased by $15 to $913.

Motorola Mobility to close Texas smartphone plant

June 2, 2014

(WRAL.com)

Motorola Mobility will close a Fort Worth, Texas smartphone plant that opened barely a year ago by the end of 2014. Lenovo plans to acquire Motorola Mobility from Google once it receives regulatory approval. The Texas plant makes Moto X phones, which are sold by Raleigh-based Republic Wireless. The plant employs about 700 workers.

St. Augustine's announces furloughs, restructuring

May 30, 2014

(The News & Observer, Raleigh)

St. Augustine's University will eliminate 4% of its workforce and convert 10% of jobs from year-round to 10-month positions. The university also announced one-week furloughs for employees. The changes will save the struggling school $1 million. 

Durham startup markets fraud-detection app

May 30, 2014

(WRAL.com)

Durham-based CertiRx Corp. has developed a mobile phone app that detects fraud on drug packaging and academic documents.

McCrory signs bill to eliminate privilege taxes

May 30, 2014

(The News & Observer, Raleigh)

After gaining approval from the state House and Senate, Gov. Pat McCrory signed a bill that revokes the authority of local governments to charge businesses privilege taxes. Municipalities will lose an estimated $62 million when the change goes into effect July 1, 2015. The bill also includes a new tax on electronic cigarettes. McCrory is also expected to sign a bill that would fast-track fracking, allowing the state to issue permits for the practice as soon as next spring.