Triangle

State suspends tax computer system after $90 million investment

January 16, 2014

(The News & Observer, Raleigh)

After investing $85 million on a tax computer system and an additional $5 million for unbilled work not yet paid, the state decided to cancel its contract with CGI Group, the Montreal-based contractor that also built the troubled HealthCare.gov site. 

Obama to announce NC State research consortium in Raleigh today

January 15, 2014

(The News & Observer, Raleigh)

Advanced manufacturing will be the focus of President Obama's speech when he appears today at N.C. State University, where he is expected to announce a new $140 million consortium of 18 companies and seven universities that will develop energy-efficient electronic chips and devices. The Next Generation Power Electronics Institute will be funded with federal, state and private funds.

UNC, NC State researchers discover solution to storing solar power for use at night

January 15, 2014

(The News & Observer, Raleigh)

A group of researchers led by a UNC Chapel HIll chemistry professor used nanoparticle engineering to develop a potential method of storing power generated by solar energy so that it can be used at night.

Cary retirement community sold for $23.8 million

January 15, 2014

(The News & Observer, Raleigh)

Cary's Jordan Oaks retirement community has been sold to Oregon-based Holiday Retirement, which owns more than 300 senior communities in the United States and Canada, for $23.8 million.

Morrisville's Anuva buys IES assets from PowerSecure International

January 14, 2014

(The News & Observer, Raleigh)

Contract manufacturer Anuva Services has acquired manufacturing equipment and parts, along with two dozen employees, from Wake Forest-based PowerSecure International's LED-based light manufacturer Innovative Electronic Solutions Lighting. Financial terms of the deal were not disclosed.

State GOP leaders form committee to study statewide impact of Affordable Care Act

January 14, 2014

(The News & Observer, Raleigh)

N.C. Senate President Pro Tem Phil Berger and House Speaker Thom Tillis announced the formation of a legislative committee to study the effects of the Affordable Care Act on the state's economy and residents, including investigations into higher premiums and canceled policies. 

McCrory's office studied casino proposal months before it was revealed to public

January 13, 2014

(The News & Observer, Raleigh)

New documents reveal Gov. Pat McCrory's office actively reviewed a proposal from the Catawba Indian Nation for a Cleveland County casino months before the plans for the project became public, then distanced itself from the deal as it began to draw fierce opposition from top state lawmakers.

Raleigh publisher acquires Durham photo vendor

January 10, 2014

(The News & Observer, Raleigh)

Raleigh publishing company Lulu has acquired Durham-based Replay Photos for an undisclosed amount. Replay sells licensed sports and professional photographs, while Lulu is best known for helping people self-publish books as well as calendars, CDs and DVDs.

Obama to make Triangle appearance next week

January 10, 2014

(The News & Observer, Raleigh)

A White House official said President Obama will visit the Raleigh-Durham area on Wednesday for an event on the economy where he is expected to begin mapping out his agenda for 2014.

State may not follow if Congress extends unemployment benefits

January 9, 2014

(The News & Observer, Raleigh)

If Congress decides to extend federal unemployment benefits, it will be up to Gov. Pat McCrory to decide whether or not to make those benefits available to unemployed workers who have exhausted their state-funded benefits.

Gannotta leaving Duke Raleigh for Chicago position

January 9, 2014

(The News & Observer, Raleigh)

The president of Duke Raleigh Hospital is leaving the 186-bed health care center to lead 894-bed Northwestern Memorial Hospital in Chicago. Richard Gannotta joined Duke Raleigh as chief operating officer in 2006 and became president in 2013. 

Durhams Quintiles unveils new free app for medication reminders

January 9, 2014

(The News & Observer, Raleigh)

Durham-based Quintiles introduced a new free app for its MediGuard medication monitoring system. Users can schedule hourly, daily or weekly reminders to take pills, and the app also displays information about potential side effects of drugs. 

Lindenmuth named interim CEO of new state economic development agency

January 8, 2014

(The News & Observer, Raleigh)

Richard Lindenmuth began Tuesday as interim CEO of the nonprofit Economic Development Partnership of North Carolina, a private agency established to handle new business recruitment and marketing of the state's tourism, film and sports industries. Lindenmuth co-founded and remains partner in a Raleigh management consulting firm that specializes in corporate restructuring and crisis management. 

Legislators opposed to state renewables law not deterred by 2013 bill's failure

January 8, 2014

(The News & Observer, Raleigh)

Legislators who failed to pass a bill to repeal the state's renewable energy standard, which offers subsidies for green energy projects, may commission a study on how the subsidies impact energy costs. Republican Rep. Mike Hager of Rutherfordton, co-chair of the Joint Legislative Commission on Energy Policy, said he sees the subsidies as an impediment to economic growth and job recruitment for the state.

Lindenmuth named interim CEO of new state economic development agency

January 8, 2014

(The News & Observer, Raleigh)

Richard Lindenmuth began Tuesday as interim CEO of the nonprofit Economic Development Partnership of North Carolina, a private agency established to handle new business recruitment and marketing of the state's tourism, film and sports industries. Lindenmuth co-founded and remains partner in a Raleigh management consulting firm that specializes in corporate restructuring and crisis management. 

Pinehurst restaurants gearing up for U.S. Open weeks

January 7, 2014

(The Fayetteville Observer)

Pinehurst area restaurants already have begun taking reservations during the back-to-back U.S. Opens to be held there in June, and at least one restaurant owner expects to be fully booked by April.

Lee County approves loan incentive for Fitzpak expansion

January 7, 2014

(The Sanford Herald)

Lee County commissioners approved a loan incentive of $150,000 for New Jersey-based Fitzpak Inc. to expand, investing $4 million in new machinery and creating 50 jobs at a plastic-packaging plant. The city of Sanford will hold a hearing on a $40,000 grant for Fitzpak at its meeting Tuesday.

McCrory defends DHHS leader, says mailing mistake due to programming error

January 7, 2014

(The News & Observer, Raleigh)

After nearly 50,000 children's insurance cards were inadvertently mailed to the wrong addresses last week, Gov. Pat McCrory stood by state Department of Health and Human Services Secretary Aldona Wos, blaming the mix-up on a computer programming error and saying the department was troubled when he took office a year ago and needs more time to be fixed.

Advanced Auto Parts acquires Raleigh's General Parts for $2 billion

January 6, 2014

(The News & Observer, Raleigh)

Roanoke, Va.-based Advance Auto Parts completed its $2.04 billion acquisition of Raleigh's General Parts International, creating the largest automotive-parts provider in North America. General Parts employs about 500 in Raleigh; the new company plans to keep a presence there.

Durham commercial bank acquires California financial services firm

January 6, 2014

(The Herald Sun, Durham)

Durham-based Square 1 Bank, a commercial bank which serves venture capitalists and entrepreneurs, has acquired Sand Hill Finance, a firm based in California's Silicon Valley that provides accounts receivable financing solutions.