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Triad Business Journal
UNCG, A&T professors receive cut of $5M funding from NCInnovation
Two Triad professors are each receiving a portion of $5.2 million awarded to eight university research projects by a state-funded nonprofit. <\p> Hemali Rathnayake, a professor of nanoscience at UNC-Greensboro and co-founder of Minerva Lithium, and Kristen Dellinger, an assistant professor of nanoengineering at North Carolina A&T State University, were selected in the first round of grants by NCInnovation. <\p>
Cocktails and chicken wings: Newest food and drink spots in the Triad
Those in the Triad looking for a signature cocktail or an order of chicken wings have some new options. <\p> Trade Street in Winston-Salem saw the grand opening of two new bars last week and the surrounding area will soon house a chicken-wing restaurant chain and burrito franchise. A little further out, but still craving chicken? Kernersville has you covered with a new chicken salad restaurant. <\p>
Community Housing Solutions president on state of housing in Guilford
Community Housing Solutions supports homeownership throughout Guilford County in a unique way — by working to allow people to stay in their homes for as long as possible.<\p> The nonprofit organization's slogan is “Warmer, Drier, Safer,” and it provides home repairs and modifications to low-income homeowners, the majority of whom are elderly, disabled, or single parents, in many cases to make them safer.<\p>
Alamance city is fastest-growing in Triad; Greensboro tops 300K
Mebane, which straddles the line between the Triad and Triangle, and Kernersville, which straddles the line between Forsyth and Guilford counties, are the fastest-growing cities in the Triad this decade, according to U.S. Census data released this week.<\p> And Greensboro passed the 300,000 mark, but its status as the state's third-largest city seems to be in jeopardy based on the census bureau's population estimates for 2023.<\p>
The best and worst industries for finding a job right now
Workers in the market for a new job are finding quick success if they're targeting a select few industries — and, perhaps surprisingly, if they're hunting without the aid of artificial intelligence.<\p> A new survey from Resume Builder of workers hired into new jobs within the last six months paints a picture of workers in food and hospitality, retail, and construction being been able to find jobs quickly. Prospective employees in business and finance, education, and software are having a harder time landing a new job.<\p>
Two-year-old infusion center goes from 375 SF to 3,000 SF (PHOTOS)
To local entrepreneur Keatah Brooks, expanding Lotus Infusion and Wellness PLLC after only two years of operation is part of her long-term goal to bring a wide range of proactive wellness services to a smaller market.<\p> “I wanted to really put myself out there,” Brooks said. “I said ‘Let’s go for it. Go big or go home.’ ”<\p>
AI's latest casualty? Entry-level jobs
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals. We'll take a look today at how artificial intelligence is taking roles that used to act as entry-level positions; Frontier Airline's strategy targeting business travelers; and how you can buy everything in a Red Lobster restaurant. But we'll start with what higher-for-longer rates mean for those in the real estate business.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
NJ investors turn quick profit with sale of Triad industrial building
A New Jersey-based real estate investment firm has recently sold a building in a Kernersville industrial park for 30% more than it purchased the building for just 75 days before.<\p> This week, Lucern Capital Partners completed what it described as a "strategic disposition" of one of four buildings it purchased in Indeneer Business Park in Kernersville for $4.1 million at the end of February. The light industrial portfolio was 51,450 square feet on 7.9 acres of land at the time of purchase. <\p>
NC law taking effect in July will shorten the building permit process
If there's one thing Reggie Hucks knows well from his four decades in the building industry, it's that predicability is a big deal for builders and developers. <\p> A new state law that takes effect in July will aim to provide just that for the commercial sector by setting a 45-day window for municipalities to complete building permit reviews on commercial and residential multifamily projects.<\p>
TBJ announces 2024 C-Suite winners
Triad Business Journal is excited to announce the 2024 C-Suite Award winners.<\p> The 15 top executives being recognized include CEOs and presidents from some of the region's largest organizations and most recognizable brands, as well as two chief financial officers and a chief operating officer.<\p>
Guerrilla RF lowers nets loss by 15% as it works toward profitability
Since last September, Guerrilla RF has said it would break even in Q2 2024 – a half-year jump from its original target of Q4 2024. With one quarter to go, the company announced this week that it lowered it made progress during the first quarter, cutting its net loss by and its operating loss by 50%. <\p> Overall, the Greensboro-based public semiconductor company cut its net loss Nets loss from $4 million in the first quarter of 2023 to $3.37 million in Q1 2024, a reduction of about 15%.<\p>
See what Greensboro Science Center plans for $32M rainforest biodome
Indie the Greensboro Science Center's Linnie’s two-toed sloth will find a spacious new home in the coming years at the science center's rainforest-themed biodome.<\p> GSC released its architectural model for its $32 million, 32,000-square-foot indoor exhibit “Expedition Rainforest: The Greensboro Biodome & Aquatic Rehabilitation and Conservation Center” (ARCC) on Wednesday morning. Construction is set to begin in September 2024, with a projected grand opening in September 2026.<\p>
Company seeking incentives in Lexington sounds familiar
A company promising 105 jobs and a $71 million investment in Lexington in return for local economic-development incentives is a food-processing operation looking to retrofit an existing facility, a description matching a major national company looking to expand in the Triad.<\p> That’s according to a resolution Lexington City Council approved Monday in support of an application for a $500,000 state building re-use grant for a company identified by the code name Project Owl. The council in April approved a local matching grant worth about $25,000. The jobs would be filled by Oct. 31, 2027. Davidson County commissioners approved a similar package for Project Owl worth up to $144,450 in April.<\p>
Elevated interest rates force re-pricing of billions in CRE debt
Just shy of $20 billion in commercial mortgage-backed securities debt backing U.S. office properties is set to mature in the next year, occurring at a time that's now also expected to feature a higher-for-longer interest-rate environment. <\p> Moody's Analytics Inc. found that as of April, $19.9 billion in office CMBS loans will mature by next spring. That's a marked increase over the $8.75 billion in office CMBS debt that matured in 2023. <\p>
Guilford County delays hearings on two projects promising 120 jobs
Guilford County commissioners have postponed hearings on economic-development incentive packages on two projects that together promise 120 jobs, but both projects are said to still be in the works.<\p> The county announced late last week that public hearings were canceled for Project Aggie and Project Mercury. Both had been announced for the May 16 meeting of the Board of Commissioners.<\p>
Greensboro-based landlord settles consumer protection case with NC
North Carolina Attorney General Josh Stein has reached a settlement with a Greensboro-based landlord after launching an investigation into her company in the fall over allegations wrongfully charging fines and withholding security deposits from tenants. <\p> Stein announced Tuesday that the state has secured a $25,040 consent judgement with Evagelia Eustathiou — who also goes by Lisa — and her Greensboro-based company, Apollon LLC, over violations of state consumer protection and debt law. Eustathiou operated Apollon, a residential rental business and rented primarily to college students in the Greensboro and Raleigh areas. <\p>
Triad county hires French firm to convert landfill gas to methane
Rockingham County has chosen French company Waga Energy and its U.S. subsidiary to convert gas produced at the county’s Madison landfill to a form of natural gas that can be sent into a regional gas pipeline network.<\p> The 20-year agreement followed a county request for proposals. Waga Energy will finance, build, own and operate the unit and share revenue from it with the county.<\p>
Construction underway at $90M luxury apartments due to open this fall
A new luxury apartment complex in Greensboro near the Piedmont Triad Airport is expected to be completed in time for move-in this fall, with construction under way on a project valued at almost $90 million.<\p> The Revel Apartments, with a total of 360 units and a long list of amenities being developed by Charlotte-based real estate investors Collett Capital.<\p>
The coveted perk that could be critical for workforce development
As the focus shifts from recruitment to retention in a still-tight hiring market, many employers are searching for the incentives that will retain workers. <\p> While perks like four-day workweeks, unlimited vacation and remote work are often in the spotlight, another coveted perk is career development and upskilling opportunities. <\p>
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