Business & Economy

Business & Economy
12:29 pm
Mon August 19, 2013

N.C. Unemployment Rate Up Slightly After Months Of Decline

A job fair at Wake Tech earlier this year. The state unemployment rate rose 0.1 percent last month.
Credit Wake Tech Community College

The state unemployment rate is up for the first time since January. 

North Carolina's Commerce Department said this morning July's jobless rate was 8.9 percent, up from 8.8 percent the previous month.  The rate had been dropping or staying level for five straight months until now. 

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Business & Economy
7:15 am
Mon August 19, 2013

New York Tech And Finance Firm Eyes Triangle Talent For Expansion

Credit http://www.flickr.com/photos/tsolson / flickr

North Carolina's technology and finance industry is attracting a Wall Street firm to the Triangle. 

The company Ipreo says it plans to hire 250 employees at an office in Raleigh by 2017.  Ipreo got nearly $4 million in incentives from the state in exchange for meeting hiring and investment goals in North Carolina. 

Ipreo president and COO Kevin Marcus says the growing firm wants to recruit analysts from nearby universities.

"We want to be able to attract talent and have a steady stream available to us," Marcus says.

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Business & Economy
7:07 am
Mon August 19, 2013

Down Economy Equals Growth At State Employees' Credit Union

An artistic rendering of the new SECU building on Salisbury Street in downtown Raleigh.
Credit State Employees' Credit Union

North Carolina’s State Employees’ Credit Union reached a major milestone in recent years.  There is now at least one branch in each of the state’s 100 counties.

The 75-year-old credit union was chartered with only 17 members.  Today, its membership base is close to 1.8 million and growing.  And a lot of this growth has come in the past five years, since the financial crisis and since retail banks have struggled to win back consumer confidence.

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Business & Economy
8:39 am
Thu August 15, 2013

Triangle Home Sales Up Almost 40 Percent

Credit RubyJi via Flickr, Creative Commons

July home sales are up 39 percent in the Triangle, compared to the same period last year. That number comes from Durham, Johnston, Orange and Wake County sales.   

As home sales have increased, inventory has gone down, by over 10 percent. Currently, the region has just a three month supply of homes on the market based on current trends.   

Stacey Anfindsen, a market analyst with Birch appraisal Group, says these numbers need perspective. 

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Business & Economy
4:11 pm
Wed August 14, 2013

Quintiles Acquires Triangle Research Group Novella

Credit Quintles

The Durham-based pharmaceutical company Quintiles is acquiring a Triangle research organization. 

Quintiles announced Wednesday it reached a deal with Novella Clinical in Morrisville.  Novella is an oncology and medical device research group with nearly 300 employees in the Triangle.  The companies did not release the terms of the deal. 

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Business & Economy
10:46 am
Wed August 14, 2013

Ruger Opening Gun Manufacturing Plant In Rockingham County

Rockingham County Sheriff Sam Page takes aim at a steel plate during a round of target practice earlier this month. Mayodan, a small town in the county, is the site of a new gun manufacturing plant that will create more than 450 jobs.
Credit Jeff Tiberii

Sam Page steps out of his jeep wrangler wearing a green hunting suit, boots and a black hat. Everything but his hands, face and neck is covered. It’s a sizzling Thursday summer afternoon and Page is dripping with sweat. After a short walk into the woods, he plants his feet, focuses on a steel plate about 50 feet in front of him— and fires.

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Business & Economy
6:02 pm
Mon August 12, 2013

North Carolina's Export Business Continues To Boom

US International Trade Administration says NC exports up 6%.
Credit NC Commerce Department

Leoneda Inge reports on NC's booming exports.

North Carolina’s export business around the world continues to boom.  Numbers from the U.S. International Trade Administration show merchandise exports jumped by 6% compared to this time last year – up to $14.8 billion.

Jean Davis is the Director of International Trade for the state Commerce Department.  She says excluding a dip in 2008 during the recession, exports have been on the rise for the past decade.

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Business & Economy
1:25 pm
Thu August 8, 2013

Startup Hub Goes Regional In Expansion To Raleigh

An architect's rendering of American Underground's offices planned for Raleigh.
Credit Alliance Architecture

A new hub for startup businesses in Raleigh is set to open this fall. 

Durham-based American Underground says it's opening space enough for 25 startups on Fayetteville St. in downtown Raleigh.  The company sells affordable commercial space to Durham entrepreneurs in exchange for connecting them with investors and providing other support.

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Business & Economy
7:11 am
Thu August 8, 2013

Hatteras Island Study Shows Economic And Cultural Value

NC Outer Banks is known for its Lighthouses.
Credit Outer Banks Visitors Bureau

Backers of maintaining NC 12 along the Outer Banks have a new study to bolster their case.  NC 12 has seen its share of damage as storms shift the sand.  And the price tag to fix the problem could cost millions, if not billions.

Lee Nettles is the Executive Director of the Outer Banks Visitors Bureau.  He says the public and the legislature need to know the economic value of Hatteras Island.

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Business & Economy
9:19 am
Wed August 7, 2013

Aqua NC Files For Another Rate Increase

Aqua NC will file for its 3rd rate increase in 5 years.
Credit Wikimedia Commons

Officials with Aqua North Carolina are seeking another rate increase -- the third in five years..  The private water provider wants a 19 percent jump in the cost of their water service to customers. 

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