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Triad Business Journal
Here's when ProKidney will resume manufacturing, clinical trials
Winston-Salem’s public regenerative medicine company says it is still on schedule to resume manufacturing in the middle of this year.<\p> In announcing its financial results for the first quarter of 2024 on Monday, ProKidney (NASDAQ: PROK) also said on it will resume manufacturing in mid-2024. It paused manufacturing in November to address documentation deficiencies in its quality management systems. <\p>
Deere confirms plans for $70M Triad expansion, 150 new jobs
John Deere confirmed Tuesday it plans an expansion of its campus in Kernersville, with a $70 million, 380,000-square-foot expansion and add about 150 workers.<\p> “Kernersville has been an ideal location for John Deere for more than 35 years,” John Deere Kernersville General Manager Steve Brewer said in a news release from Greater Winston-Salem Inc. “We are excited to further invest in our future generation excavator portfolio and grow our engaged team.”<\p>
Growing share of real estate agents weigh leaving their brokerages
The Covid-19 pandemic and a recent wave of class-action lawsuits have pushed more real estate agents to consider leaving their brokerages.<\p> Those findings, from the latest annual Agent Priorities Report from Coldwell Banker Real Estate, found while 61% of agents surveyed plan on sticking with their company this year, that’s down from 75% in 2023.<\p>
Here's how Greensboro plans to use $450M in water, sewer bonds
The city of Greensboro is getting almost a half-billion dollars to try to solve the problem of infrastructure deterioration.<\p> The local government commission approved Greensboro for $275 million in bond anticipation notes for water and sewer projects at a meeting last week. The bonds will be used for the city's Water and Sewer Rehabilitation Program that will aim to improve service and operations of the city's water and sewer. The method of financing is a short-term, interest-bearing security that allows for work to continue until a larger bond is issued in the future, according to the press release from the local government commission.<\p>
PTI gets nonstops to major world air gateway that it lost during Covid
United Airlines will resume nonstop service from Piedmont International Airport to and from Washington’s Dulles International Airport with flights daily starting Oct. 27, PTI announced Monday.<\p> The announcement restores service PTI lost in the airline industry meltdown at the height of the Covid-19 pandemic in 2020 and which was slow to return in the pilot shortage aftermath. While PTI already has nonstops to Washington's Reagan National Airport, the restored service connects the Triad to a major hub for United and an international gateway.<\p>
Airline credit-card reward programs in regulators' crosshairs
The nation's major airlines are drawing heat over their branded credit-card reward programs, with federal regulators targeting consumer complaints that claim many perks don't live up to the hype and sometimes cost more than they are worth. Those findings...
Can't keep track of marketing materials? This W-S firm has a solution
For a Winston-Salem software company, necessity really was the mother of invention when it came to its first-ever SaaS product. <\p> Solutions Afoot launched Brandsona, a software that helps schedule and plan social media and other marketing content, earlier this month for beta testing. <\p>
Why Amazon's recent moves bode well for a cooling CRE market
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 a bankruptcy health care system's hospital sale; a $3.3B investment from Microsoft that will help establish an artificial intelligence hub; and what you need to know about upcoming changes to overtime rules. But we'll start with the dynamics in this once-hot commercial real estate subsector.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
Higher-for-longer rate environment means more uncertainty for CRE
Commercial real estate investors, owners and occupiers all have been monitoring whether the Federal Reserve will impose interest-rate cuts in 2024 after rapidly rising rates have substantially increased the cost of doing business.<\p> Earlier this month, the Fed signaled it needed to see more progress toward its inflation target of 2% and decided to maintain its key lending rate. At that meeting, Fed Chairman Jerome Powell said gaining greater confidence around inflation "will take longer than previously expected," although he also said he felt inflation would move back down in 2024.<\p>
Chatham megasite has two companies. What about the other 1,300 acres?
Wolfspeed (NYSE: WOLF), the semiconductor manufacturer building a $5 billion facility in Chatham County, now has a neighbor at one of the county's megasites.<\p> Innovative Construction Group, which was acquired by national homebuilder PulteGroup (NYSE: PHM) in 2020, announced in April it is investing roughly $40 million in operations in Siler City. It turns out they will build at the 1,800-acre Chatham-Siler City Advanced Manufacturing (CAM) Site, which is owned by a pair of Triad investors.<\p>
Triad home prices soar in Q1 as inventory at 'historically low' level
Home prices increased sharply in the Triad in the first quarter of 2024 as interest rates remained high and housing inventories remained low.<\p> Jason Bragg with Leonard Ryden Burr Real Estate said the average home price in Winston-Salem in March of 2024 was $278,000, a 15% increase over March 2023, when the average was $261,000. He said in February, the average single-family home price was $280,000, an increase of 8% over February 2023. The data includes both existing and new home prices.<\p>
High Point entrepreneur to be featured at U.S. Open in Pinehurst
Small business owners like Kissie Stroup know that getting a product in front of a large audience is key marketing. <\p> That’s why being chosen as the official salad dressing for the U.S. Open in Pinehurst is such a big deal for Stroup, the founder of High Point’s Little Black Dressing Co. The United States Golf Association estimated that about 30,000 people will attend each day of the tournament, which will be played June 13-16. <\p>
Gen Z's latest college grads have a new rival in the workforce
As new college graduates enter the workforce, they are facing some new competition for jobs: artificial intelligence. Given ChatGPT and other AI tools' ability to complete tasks such as research, data entry and email writing, some entry-level roles...
Foodservice equipment maker to add 380K SF for new Triad logistics hub
Foodservice plastic equipment maker Cambro Manufacturing hopes to break ground as soon as the second week of June on a new facility that will nearly double the size of its Mebane operation. The company, based in Huntington Beach, California, has filed...
These are North Carolina's most popular state parks
Visitation at North Carolina state parks and recreation areas eclipsed 20 million people in 2023, inching up 3.9 percent from the year prior, but down from 22.7 million in 2021. Overall, 29 of the state’s parks and recreation areas saw upticks in...
Stake Center Locating names long-time C-suite exec as its new CEO
Stake Center Locating, one of the Triad's fastest-growing private companies has made its second leadership change in 15 months, naming Rob Driskell its new chief executive officer. Driskell brings two decades of C-suite experience to Stake Center Locating,...
Health, school systems top List of Triad's largest employers
Two health systems, two public school systems and the world's largest retailer top the List this week as Triad Business Journal ranks the region's largest employers. Atrium Health Wake Forest Baptist held on to its spot at the top of the List, and Novant...
Retail up, textiles down in mixed-bag of Triad's public companies
While overall the stock market hasn't been terrible, the handful of public companies in the Triad had ups and downs. Last year was an off year for the Triad's largest public company, Old Dominion Freight Line Inc., despite a fourth quarter increase...
Sports bar with golf simulators coming to fast-growing area in Triad
A new sports bar – complete with indoor golf simulators – is coming to a fast-growing mixed-use corridor of Greensboro. Slated to open after Memorial Day, The Clubhouse is located at 305E Pisgah Church Road in Koury Corporation’s 35-acre mixed-used...
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