Business & Economy

Business & Economy
4:47 pm
Wed August 28, 2013

Heavy Traffic Expected On Labor Day Weekend

The Highway Patrol is encouraging motorists to be safe this weekend.
Credit epSos via Flickr, Creative Commons

As the summer begins to wind down, lots of folks will be hitting the road and getting in last trips to favorite water recreational areas this Labor Day weekend. Troopers will be joining forces with officers from the state Wildlife Resources Commission to keep roadways and waterways safe.  First Sergeant Jeff Gordon from the state Highway Patrol says last Labor Day weekend 18 people lost their lives and more than 400 were injured on North Carolina roads.

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Business & Economy
7:36 am
Mon August 26, 2013

Duke Energy Asks Court To Dismiss Merger Appeal

Credit Creative Commons/Jc3s5h

Duke Energy has filed a motion to dismiss an appeal of the ruling that confirmed the merger with Progress Energy. 

The appeal from the environmental group NC WARN says the state Utilities Commission was wrong to exclude outside parties from an investigation of the merger.  Regulators were looking into why Progress Energy CEO Bill Johnson was ousted as leader soon after the deal was complete last year. 

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Business & Economy
10:50 am
Fri August 23, 2013

Pittsboro Considers 7,000 Acre Multi-Use Development

The town of Pittsboro is holding public meetings to discuss a new 7,000 acre development called Chatham Park.
Credit 1nativeTexan / flickr

The town of Pittsboro is considering a new, 7,000 acre multi-use development called Chatham Park. If approved, it would be built over 30 years, and could increase Pittsboro's population to 60,000.

At public meetings on the issue, some in Pittsboro have expressed concerns about the new development and how it might change the area. Elaine Chiosso is Executive Director of the Haw River Authority, and she says the development could hurt the surrounding ecosystem.

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Business & Economy
12:16 pm
Wed August 21, 2013

New Agritourism Website Launched For Triangle Farms

Visitors harvest lavender at Bluebird Hill Farm in Chatham County.
Credit Bluebird Hill Farm

The Triangle foodie scene is growing its digital footprint. A new website called TriangleGrown launched by the Destination Marketing Organizations for Orange, Durham, Johnston, Chatham and Wake Counties aims to promote agritourism by being a go-to resource for people interested in exploring the local farming community.

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Business & Economy
6:32 am
Tue August 20, 2013

Greater Kinston Credit Union Working To Keep Legacy Strong

Greater Kinston Credit Union Manager Shawn Wilson visits credit union co-founder Charles Sanders.
Credit Leoneda Inge

There is a credit union in eastern North Carolina that has worked hard to help people who have historically been left out of traditional banking circles.

But during the economic downturn, the Greater Kinston Credit Union suffered just like many of its members.  Major loans weren’t re-paid and the state placed it under conservatorship.  Today, Greater Kinston has a new manager, is open for business and is making money again.

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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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