Triangle

Raleigh apartment complex sells for $50 million

August 22, 2014

(The News & Observer, Raleigh)

Legacy at Wakefield, a 369-unit apartment complex in north Raleigh, sold for $50.5 million to Carter-Haston, a Nashville, Tenn.-based investment and property-management company.

Decker confident trip to Japan will bring jobs to NC

September 23, 2014

(The News & Observer, Raleigh)

Following a recent trip to Japan, N.C. Commerce Secretary Sharon Decker says she feels "very good" about the state's prospects for attracting an auto manufacturer. Earlier this year, North Carolina lost a Toyota plant to Texas, which has direct flights to Tokyo, despite offering more than double the amount of incentives. "I came back very motivated for us to get direct flights to Asia," Decker said after the 36-hour flight home.

Cary-based Ply Gem to acquire Ohio window company for $130M

August 21, 2014

(The News & Observer, Raleigh)

Cary-based Ply Gem Holdings will pay $130 million for Simonton Windows, a Columbus, Ohio-based vinyl window and door manufacturer with annual revenues of more than $300 million. Ply Gem makes vinyl siding, doors and windows and employs more than 6,200 people in North America.

Smith Center renovation plans on hold

August 21, 2014

(The News & Observer, Raleigh)

Plans to renovate or replace the Smith Center at UNC Chapel Hill have been placed "on the back burner," according to Athletic Director Bubba Cunningham. Retrofitting the arena, which opened in 1986, with features including luxury boxes and premium seating could cost tens of millions of dollars. 

Four Oaks Bank raises $24 million through stock offering

August 20, 2014

(The News & Observer, Raleigh)

Four Oaks Bank raised $24 million in a common stock offering priced at $1 per share. The Johnston County bank says the new capital will help it comply with a 2011 agreement with state and federal regulators and will allow it to expand its loan portfolio.

Moore County delays agreement on 3,000-acre megapark

August 20, 2014

(The Fayetteville Observer)

Moore County commissioners decided to delay an agreement with Montgomery County on a 3,000-acre industrial park. County leaders say they support the project but want to simplify the terms of the agreement. Two-thirds of the proposed site is in Moore County.

Wake County to hit 1 million residents Friday

August 19, 2014

(The News & Observer, Raleigh)

Based on the average growth rate of 62 people a day, Wake County is expected to reach the milestone of 1 million residents on Friday. The majority of Wake's growth comes from net migration − about two thirds of new residents come from other states, foreign countries and other counties in North Carolina.

Silicon Valley venture-capital firm looking to RTP for opportunities

August 19, 2014

(The News & Observer, Raleigh)

HealthQuest Capital, a Silicon Valley-based venture-capital firm, is looking to invest in life-sciences companies in North Carolina and other parts of the Southeast. The firm was founded by Garheng Kong, a former partner at Durham's Intersouth Partners, who says the region has long been underfunded when it comes to venture-capital investments.

Federal government approves Lenovo-IBM server deal

August 18, 2014

(The News & Observer, Raleigh)

The U.S. government approved Lenovo's pending $2.3 billion acquisition of IBM's low-end server unit. China-based Lenovo expects the deal, which will nearly double its Triangle employment of 2,200, to close by year-end.  

Lenovo quarterly profits exceed expectations

August 15, 2014

(The News & Observer, Raleigh)

Lenovo posted a 23% increase in profit in its fiscal first quarter ended in June, led by gains in the smartphone and PC markets. The Beijing-based computer maker employs about 2,200 at its North American headquarters in Morrisville.

Durham's BioCryst receives $4.1 million to develop Ebola treatment

August 14, 2014

(The News & Observer, Raleigh)

BioCryst Pharmaceuticals was awarded $4.1 million to develop a treatment for the Ebola virus. The funds are part of a 5-year, $22 million federal research contract the Durham company was granted for a drug it is developing to treat Marburg, a related virus.

Cisco to lay off 6,000 workers

August 14, 2014

(The News & Observer, Raleigh)

San Jose, Calif.-based Cisco Systems will lay off 6,000 workers, or 8% of its workforce in a restructuring. The telecommunications-equipment manufacturer announced in June it will add 550 jobs to its existing 4,600 at its Research Triangle Park site. The company will receive up to $12.9 million in state grant money for that expansion.

 

Carthage wants to create 'visual history art gallery' with murals

August 14, 2014

(The Fayetteville Observer)

Carthage has commissioned up to 20 murals showcasing the town's history in an effort to boost tourism and economic development. 

Latest Dominion pipeline proposal omits Raleigh extension

August 13, 2014

(The News & Observer, Raleigh)

Richmond, Va.-based Dominion Resources has rerouted its proposed natural gas pipeline, omitting a Raleigh extension and bypassing Clayton. If built, the 550-mile pipeline would run from West Virginia to southeastern North Carolina along the I-95 corridor.

SAS announces collaboration with Amazon

August 13, 2014

(The News & Observer, Raleigh)

Cary-based SAS has partnered with Amazon Web Services to make it easier for its customers to use SAS software with Amazon's cloud service. 

Former Progress exec named CFO of Raleigh's Highwoods

August 12, 2014

(The News & Observer, Raleigh)

Highwoods Properties named Mark Mulhern chief financial officer. Mulhern spent 16 years with Progress Energy until his departure following the company's 2012 merger with Charlotte-based Duke Energy. He replaces Terry Stevens, who is retiring.

SAS to sponsor computer-science research projects at NC State

August 12, 2014

(WRAL.com)

Cary-based software company SAS formed an agreement with N.C. State University to fund joint research projects in areas including cyber security, big data and health-monitoring technologies. 

Sills named CEO of Mechanics and Farmers Bank

August 12, 2014

(The News & Observer, Raleigh)

Durham-based Mechanics and Farmers Bank named James H. Sills III president and CEO effective Sept. 1, replacing Kim Saunders, who stepped down in March. Sills has held leadership roles at MBNA America Bank, First Tuskegee Bank and Memphis First Community Bank.

Duke University hits fundraising record

August 12, 2014

(The News & Observer, Raleigh)

Duke University raised $441.8 million in fundraising during the fiscal year that ended June 30, 7.5% more than the previous year. The Durham-based university is in the midst of a multi-year campaign with a goal of raising $3.25 billion by June 30, 2017.

Duke researchers study fracking's effects on water quality

August 11, 2014

(The Charlotte Observer)

Professors at Duke University are close to finalizing research that could show whether drilling for shale gas in other states has led to problems with water quality. North Carolina will begin public hearings this month on safety standards for the practice.