Triangle

RTP's AgBiome moving into larger space

July 21, 2015

(The News & Observer, Raleigh)

AgBiome, a Triangle agbio research company, is moving to a larger space in RTP that will allow it to nearly double its workforce to 70. Founded in 2012, AgBiome has raised $17.5 million in venture capital and performs research for companies including Syngenta.

Nonprofit wants PacWest to submit community investment plan for Durham

July 20, 2015

(The Herald-Sun, Durham)

Reinvestment Partners wants the federal government to delay approval of Square 1 Bank's proposed acquisition by Calif.-based Pacific Western Bank. The nonprofit is concerned that PacWest won't meet community-credit needs after the deal closes. Square 1, which loans money to startups and venture capitalists, holds a 36% market share of deposits in Durham County.

Tech company bringing 200 jobs to Durham

July 17, 2015

(The News & Observer, Raleigh)

Interactive Intelligence plans to expand in Durham, adding 200 workers with an average annual salary of $70,000. The Indiana-based company develops software for call centers and other businesses. Interactive currently employs 130 at its Durham location.

Triangle companies raise $112M in VC funding in second quarter

July 17, 2015

(The News & Observer, Raleigh)

Five Triangle companies raised more than $10 million each in venture capital in the second quarter, according to a report by PricewaterhouseCoopers. In all, a dozen tech and biotech companies raised $112.2 million in the quarter. Innocrin Pharmaceuticals raised the most, bringing in $28.1 million in a funding led by Eshelman Ventures.

Gates Foundation awards $20M to Duke Global Health Institute

July 16, 2015

(The Herald-Sun, Durham)

The Duke Global Health Institute received a $20 million grant from the Bill & Melinda Gates Foundation to continue its work addressing global health challenges. Half of that amount is a challenge grant, bringing the total impact of the grant to $30 million.

US Open will return to Pinehurst in 2024

July 15, 2015

(The Pilot, Southern Pines)

The U.S. Open golf championship will return to Pinehurst for a fourth time in 2024. Though a formal announcement won't be made until July 22, the Pinehurst Village Council unanimously approved Tuesday an agreement with the USGA that will allow the tournament to use village property for parking and tournament staging.

Wake Forest ends relationship with Shelby's RST

July 15, 2015

(The News & Observer, Raleigh)

The town of Wake Forest has abandoned plans to partner with RST Fiber Optic Networks, a Shelby-based company that had been working to install a high-speed fiber network there. Local leaders say they haven't been able to reach RST officials in months, and The Shelby Star reported in June the company's customers in Cleveland County had experienced long service outages.

Charlotte developer plans mixed-use project near Durham ballpark

July 10, 2015

(The News & Observer, Raleigh)

Charlotte developer CitiSculpt acquired a 12.1-acre site near the Durham Bulls Athletic Park and plans to invest $400 million in a project that includes 300 apartments, offices, retail and one or more hotels.

Peace University hires new president

July 9, 2015

(WRAL.com)

Brian Ralph was named president of William Peace University in Raleigh. Ralph comes from Queens University in Charlotte, where as vice president for enrollment management he helped increase undergraduate enrollment by more than 60%.

BioDelivery Sciences plans public stock offering

July 7, 2015

(The News & Observer, Raleigh)

Raleigh-based BioDelivery Sciences International plans to raise as much as $150 million in a public stock offering. The drugmaker plans to use proceeds for sales and marketing efforts and to accelerate development of products awaiting regulatory approval.

Raleigh to decide on Kane's proposal for warehouse district

July 6, 2015

(The News & Observer, Raleigh)

Raleigh City Council will consider Tuesday a proposal for Kane Realty to build an 18-story office tower in downtown Raleigh's warehouse district. With three council members recusing themselves due to ties with the Raleigh-based developer, all five remaining members must approve the project in order for it to move forward.

Analyst changes Lenovo rating to 'sell'

July 6, 2015

(WRAL TechWire)

An analyst with BNP Paribas warns that Beijing-based Lenovo, which has its North American headquarters in Morrisville, faces pressure in three of its biggest product markets – PCs, smartphones and servers.

SECU buys famed Chapel Hill office building

July 2, 2015

(The News and Observer)

State Employees Credit Union is buying the former headquarters of Blue Cross and Blue Shield of North Carolina in Chapel Hill for $35 million. Blue Cross is moving to a 48-acre Durham campus. 

Karmanos says Hurricanes aren't moving

July 2, 2015

(The News and Observer)

Peter Karmanos continues to seek a buyer for his team, the Carolina Hurricanes, which he says won't leave its fast-growing  market.

Lenovo's top shareholder raises $2B

June 30, 2015

(The News & Observer, Raleigh)

China-based Legend Holdings, which holds a 30.6% stake in Beijing-based Lenovo, raised $2 billion in an initial public offering on the Hong Kong exchange. Lenovo, which has its North American headquarters in Morrisville, employs about 3,500 people in the Triangle.

Duke Progress cancels HVAC repair program

June 30, 2015

(The News & Observer, Raleigh)

Duke Energy Progress is discontinuing its HVAC repair program as of Aug. 31. The program debuted in 2010 and offered customers insurance on heating and cooling repairs in exchange for a fixed monthly payment. Customers who signed up for the program within the last 12 months will receive refunds.

Cree shares tumble

June 26, 2015

(The News & Observer, Raleigh)

Shares of Durham-based Cree hit a 52-week low Thursday after the company said it was restructuring its LED business and cut its revenue forecast. Cree's shares are down 16% this year.
Related: Hot and cold: Cree

Durham-based Cree to restructure LED manufacturing

June 25, 2015

(The News & Observer, Raleigh)

LED bulb-maker Cree plans to consolidate two manufacturing facilities in Durham as part of an $85 million restructuring. Sales of its LED products fell 23% in the company's third quarter. Cree expects fourth quarter revenue will be about $375 million, lower than the $420 million to $440 million the company had previously predicted.

Merck cuts contract jobs at Durham plant

June 25, 2015

(WRAL TechWire)

Merck cut an unspecified number of contract positions at its Durham vaccine-manufacturing plant as part of a global effort to improve operations. A company spokesperson said no full-time jobs were cut at the plant, which employs about 1,400 people.

Bayer CropScience holds grand opening of renovated RTP campus

June 24, 2015

(The News & Observer, Raleigh)

Bayer CropScience celebrated a $33 million renovation at its North American headquarters in Research Triangle Park. The company also broke ground on a $26.9 million greenhouse that will serve as an R&D center for soybeans, cotton and wheat. The subsidiary of Germany-based Bayer produces seeds and crop-protection products and employs 785 in the Triangle.