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VinFast reaffirms its goal of opening its Chatham County EV plant by the end 2025
VinFast, the Vietnamese electric vehicle manufacturer planning an ambitious expansion in the U.S., told investors Wednesday that its future North Carolina manufacturing facility remains on track to open by the end of 2025. Why it matters: VinFast's $4 billion Chatham County plant is projected to be one of the largest manufacturing facilities in the state — potentially employing 7,500 people in the coming years. State and local governments have pledged more than $1.2 billion in incentives for the company if it meets hiring and investment goals.Yes, but: Construction at the site, near Moncure, has slowed in recent months — and...
The Triangle has one of the largest concentrations of AI job postings
Data: UMD-LinkUp AIMaps; Note: "AI job" defined as a job requiring technical skills to build and/or use AI models. A bigger circle indicates more new jobs per capita. Map: Kavya Beheraj/AxiosThe Triangle has one of the largest concentrations of new job postings related to artificial intelligence, thanks to its twin metro areas, Raleigh and Durham, a new analysis has found.Why it matters: As AI emerges as the hottest new thing in tech, cities outside Silicon Valley have a chance to get in on the action — and reap the potentially lucrative economic rewards, Axios' Alex Fitzpatrick and Kavya Beheraj write. Driving...
Mary-Ann Baldwin will not run for re-election as Raleigh mayor
Raleigh Mayor Mary-Ann Baldwin is not running for re-election this November, citing in a surprising video announcement Tuesday a breast cancer diagnosis from last year and other family health issues.Why it matters: The announcement throws the Raleigh mayoral race wide open, as Baldwin was expected to bring a considerable amount of funding and name recognition to the fall election. Driving the news: Baldwin, first elected in 2019 and a longtime city councilor before that, had long been expected to run for a third term as mayor — though she had not yet officially announced a run. In her announcement Tuesday, Baldwin...
Raleigh is using digital maps to help address urban heat islands
Raleigh is using digital maps to guide city efforts of remediating its heat islands — many of them in the city's lowest-income neighborhoods.Why it matters: Heat islands — wherein heat is trapped by heat-absorbing surfaces and structures — can make cities less livable and increase the risk of heat-related health complications, Axios' Alex Fitzpatrick previously reported.In Raleigh, nearly a quarter of residents live in neighborhoods where summer temperatures climb much higher than the city's average due to the urban heat island effect, Axios reported last year.Between the lines: Low-income neighborhoods tend to be more vulnerable to heat islands — especially...
House flipping: How profitable is it in Raleigh?
Data: ATTOM; Note: A flip is defined as any transaction between an unrelated buyer and seller within 12 months of a previous transaction; Chart: Axios VisualsHouse flipping activity and profits are sinking in Raleigh, per a recent report from real estate data company ATTOM.Why it matters: Lack of options and affordability are even pushing investors out of this wild market. The big picture: In 2023, house flipping activity nationwide dropped 29.3%, the biggest annual decline since 2008, according to the report.Return on investment, at 27.5%, hasn't been this bad since 2007. The ROI was down from 28.1% in 2022 and 35.7% in 2021.The intrigue: We're past the house-flip peak of 2021 in Raleigh, but rates are still up 111% from a decade ago, and 40% from 2018, ATTOM data show.What's next: Buying a fixer-upper is one way for wishful Raleigh homeowners to squeak out a deal. The typical fixer-upper costs $134,748 less than a turn-key home in the area, according to a StorageCafe study.Sign up for Axios Raleigh for free.
Japanese companies make huge investments in North Carolina ahead of prime minister's visit
It is rare for a foreign head of government to visit North Carolina — but Japan's Prime Minister Fumio Kishida's arrival is proof that the country's influence in the Tar Heel State is ascendant.Why it matters: Japan has become an increasingly important part of North Carolina's economy, recently overtaking Germany as the largest source of foreign direct investment, according to the N.C. Commerce Department.Driving the news: Kishida, who visited the White House earlier this week, will Friday get a look at North Carolina and Japanese ties. The prime minister will visit the under-construction Toyota battery plant, which could eventually employ...
Japanese biotech company adding 680 additional jobs to under-construction Wake County plant
Fujifilm Diosynth will invest $1.2 billion and create an additional 680 jobs at its under-construction biomanufacturing facility in Holly Springs by 2031, the N.C. Department of Commerce announced Thursday morning.The Japanese contract drug manufacturer will receive $69.2 million in incentives from the state as well as Wake County and Holly Springs if it meets hiring and investment targets.Why it matters: The announcement from Fujifilm represents a significant addition to the company's presence in Holly Springs — where in 2021 it pledged to build a $1.5 billion vaccine-and-drugs plant that would create more than 700 jobs. That facility is expected to...
Replacing the Dean Dome: UNC officials weighing possibility of new stadium
Chapel Hill's Dean E. Smith Center could be slated for a significant overhaul — or it could be moved to a new site entirely, according to plans from university officials.Why it matters: The Smith Center, colloquially known as the Dean Dome, has been the home of University of North Carolina basketball and one of the biggest college basketball arenas in the country since it opened in 1986. Yes, but: What was state-of-the-art in 1986 could be considered out of date in 2024, when luxury boxes and expansive concourses are considered must-have amenities. Nationwide, facilities housing college and pro teams —...
Replacing the Dean Dome: UNC officials weighing possibility of new stadium
Chapel Hill's Dean E. Smith Center could be slated for a significant overhaul — or it could be moved to a new site entirely, according to plans from university officials.Why it matters: The Smith Center, colloquially known as the Dean Dome, has been the home of University of North Carolina basketball and one of the biggest college basketball arenas in the country since it opened in 1986. Yes, but: What was state-of-the-art in 1986 could be considered out of date in 2024, when luxury boxes and expansive concourses are considered must-have amenities. Nationwide, facilities housing college and pro teams —...
J. Cole's annual Dreamville Festival will return to Raleigh in 2025
Dreamville organizers confirmed that the popular music festival will return to Raleigh in 2025. Exact dates will be announced in the fall, when early-bird tickets go on sale.Why it matters: Since its 2019 debut, Dreamville has become a signature social and cultural annual event, putting North Carolina on the global stage. The spending of roughly 100,000 Dreamville attendees last year had an economic impact of $122 million for Wake County, according to a recent report.The intrigue: Wednesday's confirmation quashes concerns that some festivalgoers had after comments made by J. Cole during his performance last weekend."I don't know how many more...
Why more Raleigh renters might start buying homes with their BFF
More people see "co-buying" as a way to go from renters to homeowners in this pricey market.Why it matters: Purchasing a home with a friend or other relation makes homeownership slightly more attainable in a competitive market like the Triangle, where inventory is low and prices are climbing.The big picture: Roughly half of Americans are willing to split the bill on buying a home in less traditional ways, Axios' Shauneen Miranda writes.Some 15% of Americans already have bought a home with someone other than a romantic partner. What they're saying: The trend isn't sweeping across the Triangle just yet, April...
UNC REX give new mothers "I Gave Birth" bracelets to imrpove health outcomes
Mothers who give birth at UNC REX Hospital in Raleigh are now going home with bracelets that let people know they've recently given birth.Why it matters: The "I Gave Birth" initiative aims to raise awareness about the wellbeing of new mothers and increase the vigilance of potential health issues that can arise in the 12 weeks postpartum, which is sometimes referred to as the fourth trimester.The big picture: North Carolina had the 20th highest rate of maternal mortality in the U.S. between 2018 and 2020 — and around two-thirds of pregnancy-related deaths occur within 42 days postpartum, according to research from...
North Carolina clears thousands of rape kits that had been left untested
North Carolina's backlog of untested sexual assault kits, once the largest in the country, has been cleared, the state's Attorney General Josh Stein announced Tuesday. Why it matters: For decades, around 16,000 untested sexual assault kits — which can provide evidence for making arrests — sat on shelves at hundreds of local crime facilities across the state, keeping potentially important evidence from being documented. The big picture: Now, after years of efforts to reduce the number of untested kits, the evidence from them has been tested and is being used to turn cold cases into active investigations again, Stein told Axios....
Akshay Bhatia, a former golf prodigy from Raleigh, headed to his first Masters
Akshay Bhatia, a 22-year-old Wake Forest native, nabbed the last invitation to the Masters golf tournament by winning last weekend's Texas Open in a playoff. Why it matters: It will be the first Masters tournament — often considered professional golf's most prestigious championship — for the left-handed, homeschooled golf prodigy who was the world's top-ranked junior player before turning professional at 17. Between the lines: Bhatia skipped college entirely for a chance to make it on the PGA Tour — a decision that's a rarity in the golf world. But five years into his career, the bet has been working out for...
Raleigh's share of recent graduates grew over the past decade
The percentage of recent U.S. college graduates settling in the Triangle has grown over the past decade, according to data from the real estate firm JLL. Why it matters: Cities across the country are desperate to attract recent graduates, as building a higher density of educated workers attracts new businesses and keeps existing ones from moving.Between the lines: The Triangle has long had an advantage when it comes to an educated workforce thanks to its large universities, like UNC, Duke, N.C. State and N.C. Central.The data shows that advantage continues to grow, with even more recent graduates living in the...
N.C. State basketball had a run to remember
The N.C. State men's basketball team's 9-game winning streak came to an end against Purdue and its 7'4 center Zach Edey on Saturday 63-50. The day before, the Wolfpack women's team fell to undefeated South Carolina, which went on to win the national championship on Sunday.Why it matters: The magical run — which stretched from March until April, won the attention of the entire country and made D.J. Burns the most popular man in the city — was a reminder of what a strong Wolfpack basketball team means to Raleigh and the greater Triangle.This year was the first time that...
UNC's Erin Matson denied opportunity to try out for Olympics spot
UNC's 24-year-old field hockey coach Erin Matson — the most decorated college field hockey player of all time — has been barred from trying out for the U.S. Olympic field hockey team. Why it matters: The decision means that Matson, who's been called the "Michael Jordan of field hockey," won't be able to compete on a global stage in Paris this summer.Driving the news: Matson's role as head coach at UNC — which she took months after graduating, bringing the team to a the national championship win her first year — is the reason she isn't allowed to try out for the team,...
UNC's Erin Matson denied opportunity to try out for Olympics spot
UNC's 24-year-old field hockey coach Erin Matson — the most decorated college field hockey player of all time — has been barred from trying out for the U.S. Olympic field hockey team. Why it matters: The decision means that Matson, who's been called the "Michael Jordan of field hockey," won't be able to compete on a global stage in Paris this summer.Driving the news: Matson's role as head coach at UNC — which she took months after graduating, bringing the team to a the national championship win her first year — is the reason she isn't allowed to try out for the team,...
An increasing number of North Carolina teachers are leaving public schools
North Carolina public school teachers continued to leave the profession in increasing numbers last academic year, a new state report found. Why it matters: Since the pandemic, teacher attrition and vacancies have spiked in North Carolina's public schools, often placing pressure on centers to fill positions and even prompting business groups to call for teacher raises.Driving the news: The attrition rate of North Carolina teachers was 11% during the 2022-23 school year — up 3.7 percentage points from the previous school year, according to an annual report from the state's Board of Education. That equates to more than 10,300 of the...
An increasing number of North Carolina teachers are leaving public schools
North Carolina public school teachers continued to leave the profession in increasing numbers last academic year, a new state report found. Why it matters: Since the pandemic, teacher attrition and vacancies have spiked in North Carolina's public schools, often placing pressure on centers to fill positions and even prompting business groups to call for teacher raises.Driving the news: The attrition rate of North Carolina teachers was 11% during the 2022-23 school year — up 3.7 percentage points from the previous school year, according to an annual report from the state's Board of Education. That equates to more than 10,300 of the...
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