Business & Economy

photo of the airbnb website, with pictures of rooms for rent
www.airbnb.com/a/Asheville

The Asheville City Council voted to severely restrict tourist rentals in Asheville earlier this year. The new rules state that rentals that had city permits before the vote can stay in business.

A map of economically vulnerable areas in Wake County.
Wake County Economic Development

Businesses that set up shop in poor parts of Wake County could soon receive financial incentives, provided they pay employees a living wage. That means employees can meet their basic needs without public or private assistance.

Greensboro city skyline
Mark Goebel / Flickr, Creative Commons, https://flic.kr/p/4UYDyX

The city of Greensboro could do more to ensure businesses owned by women and minorities get contracts with the city, according to a report presented to the city council this week.

photo of a person operating a tractor in a tobacco field
Larry Lamb / Flickr Creative Commons

Weeks ago Donald Trump announced a tariff on steel that will impact China. In response, China plans to increase tariffs on several popular American exports including pork. Veteran Winston-Salem Journal reporter Richard Craver believes both countries will pay the price. From North Carolina beer brewers to major construction companies, local business are concerned, but there may also be some winners when the smoke clears. He joins host Frank Stasio to talk about the local impact of the steel tariff.

Remington's corporate headquarters in Madison, North Carolina.
Keri Brown / WFDD

One of the oldest gun manufacturers in the country has filed for bankruptcy. Remington Outdoor Company, based in Madison, North Carolina, has racked up nearly a billion dollars of debt and faced several lawsuits, including one moving through the courts related to the use of its AR-15-style weapon in the Sandy Hook Elementary School shooting.

A hog farm in Lyons, Georgia.
Jeff Vanuga, USDA NRCS

China's tariffs on American goods could dip into North Carolina's pork exports.

Instructor Jill Caudill, right, demonstrates tig plate welding during a class at Guilford Technical Community College in Jamestown on Tuesday, February 27, 2018
Madeline Gray / For WUNC

The sounds of high-pitched drills fill the welding department of Guilford Technical Community College on a recent morning. Sparks fly and sweat drips from the faces of students as they work to fuse metal pieces together for a class project.

Broadband internet, computers,
www.planetofsuccess.com/blog/

The North Carolina League of Municipalities is pushing state lawmakers to help expand high-speed Internet access, particularly in rural areas. 

Amazon announced Raleigh is on the list of 20 possible contenders for its HQ2.
Jason deBruyn / WUNC

As Raleigh tries to appeal to Amazon for its new headquarters, an LGBTQ rights group is pushing the company to look elsewhere.

A chart showing the electricity generation capacity in North Carolina in 2016.
Courtesy of NCSU

The proposed Atlantic Coast Pipeline promises to bring huge quantities of cheap natural gas to North Carolina, which could slow growth for solar power.

North Carolina is technically the second largest producer of solar energy in America. N.C. State University Energy Economist Harrison Fell explained the state is capable of running seven percent of the energy grid on solar. But, of course, it's not always sunny.

photo of Rachelle Faroul in the doorway of her new home
Sarah Blesener for Reveal

Starting in the 1930s, the Federal Housing Administration practiced a policy called redlining, which permitted banks to deny loans to particular neighborhoods based on their racial or ethnic composition. That practice has been illegal since 1968, but African-Americans and Latinos continue to be denied mortgage loans at rates far higher than their white counterparts, according to new reporting from Reveal from The Center for Investigative Reporting.

The black community owned 0.5 percent of America’s wealth at the end of slavery, and today that number has barely increased. A typical white household is 10 times wealthier than a typical black household, and the racial wealth gap is growing.

students in a Chapel Hill elementary school.
Chapel Hill-Carrboro City Schools

New research from the North Carolina Early Childhood Foundation found that companies across the state are interested in making their businesses more family friendly. That includes policies from offering health insurance and family medical leave to paid time off, job-sharing and flexible work hours.

Tyri Squyres, Frontier Airlines vice president of marketing, discusses the new nonstop flights from Raleigh-Durham International Airport.
Jason deBruyn / WUNC

Frontier Airlines on Thursday announced six new nonstop flight destinations from Raleigh-Durham International Airport.

The budget airline will now service Buffalo, Houston, Milwaukee, New Orleans, San Antonio and San Juan, Puerto Rico. After these additions, Frontier will fly nonstop to 15 cities from RDU.

A screenshot of the cover of the proposal from NC Department of Commerce to entice Toyota and Mazda to build an auto manufacturing facility in North Carolina.
NC Department of Commerce

The N.C. Department of Commerce released the file on its effort to recruit a coveted Toyota-Mazda auto manufacturing plant.

The file contains nearly 400 pages of text messages, emails, and other documents that together paint the picture of how economic development leaders sought to woo the car makers to North Carolina.

FILE - In this Wednesday, Dec. 20, 2017, file photo, a clerk reaches to a shelf to pick an item for a customer order at the Amazon Prime warehouse, in New York.
Mark Lennihan, File / AP

Raleigh made the first cut to become the city Amazon chooses as its second headquarters.

Amazon announced Thursday morning it whittled its decision down to 20 cities. Raleigh was the only city from North Carolina to make the list. The closest contenders geographically were in northern Virginia, Nashville and Atlanta.

Fracking on the Haynesville Shale near Shreveport, Louisiana.
Daniel Foster (Creative Commons)

 Author Daniel Raimi began his journey studying natural gas and oil development in Durham. While interning at a state agency, he wrote a report about the potential for shale gas development in North Carolina. Since then, he has visited every major oil and gas producing region of the country to examine the local impacts of shale production.

Computer keyboard
Defence Images/Creative Commons

More than half of North Carolinians were affected by personal data breaches in 2017. This month the North Carolina Department of Justice announced that the number of people hit in 2017 was seven times the number affected in 2016.

Ten years after the Great Recession North Carolina’s economy is back on its feet by many measures. Rates of employment are up, and the hard-hit manufacturing sector has been superseded by a growing tech and professional services industry.

Toyota Motor Corp. President Akio Toyoda, left, and Mazda Motor Corp. President Masamichi Kogai. The rivals will build a joint manufacturing plant in Alabama.
Shizuo Kambayashi / AP

When auto manufacturers Toyota and Mazda build a $1.6 billion joint manufacturing plant in Alabama, it will mark another miss for economic developers in North Carolina.

North Carolina was a finalist for the plant, which will add 4,000 manufacturing jobs near Huntsville, but ultimately lost out in the final stages of negotiations.

The Tech Jobs Tour convenes America's innovators across all areas of technology. Photo from Tech Jobs Tour Portland on April 27, 2017 at Coopers Hall. (Portland, OR)
Tech Jobs Tour / Flickr, Creative Commons, http://bit.ly/2CWQ6LQ

Companies that promote diversity are more innovative, according to a new study from N.C. State University's Poole College of Management.

the cover of Joshua Davis's book, "From Head Shops to Whole Foods."
Joshua Davis

In the 1970s, independent bookstores, local food co-ops and credit unions shaped a new consumer landscape that was as much about protest as it was about purchase.

In his new book “From Head Shops To Whole Foods: The Rise and Fall of Activist Entrepreneurs” (Columbia University Press/2017) history professor and author Joshua Clark Davis digs into the unique environment that led to the rise and demise of these businesses.

Crews continued to work on the Bonner Bridge project.
Jason deBruyn / WUNC

North Carolina corporate and economic leaders predict jobs and company profits will continue to see steady, diverse growth in 2018 even without landing a Toyota auto factory or Amazon headquarters expected to be announced within months.

Courtesy of New Hanover County Public Library

The 1940s was a decade of great transformation in North Carolina – the state transitioned from a mostly rural, agricultural place to one with a booming tobacco industry, strong musical traditions and a large military presence.

The post-holiday season is a time when many people look back at the memories they made and the money they spent. According to behavioral economist Dan Ariely, many of the financial decisions made during this time, and throughout the year, are based on instincts or emotions rather than value. 

The post-holiday season is a time when many people look back at the memories that were made, and the money that was spent. According to behavioral economist Dan Ariely, many of the financial decisions made during this time and throughout the year, are based on instincts or emotions rather than value.

With the growth of popular technologies like taxi apps and mobile payments, Ariely argues people are also becoming increasingly distanced from the physical pain of spending which can be helpful for keeping unnecessary spending in check.

part of the Republican Senate bill "Tax Cuts and Jobs Act" is photographed in Washington
Jon Elswick / AP

Republicans lawmakers in Congress frequently point to North Carolina as evidence their tax overhaul will be a boon for the economy. In 2013, the state passed a tax overhaul that includes a lot of the same elements as the federal proposal, including cutting corporate and income taxes.   

Mary Ankeny, Vice President of product development at Cotton Incorporated in Cary, NC.
James Morrison / For WUNC

Low cotton prices and a couple of bad weather years have unseated North Carolina as one of the leading cotton-producing states.

L.A. McCrae holding a glass of her beer
Courtesy of L.A. McCrae

For L.A. McCrae, beer is a ministry. She owns Black Star Line Brewing Company – the first black-owned brewery in Western North Carolina. 

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