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Triad Business Journal
Door manufacturer to invest $10.5M, create 69 jobs in Triad hotspot
Excel Interior Door, a manufacturing company based in Alabama, has selected Winston-Salem for a new production and distribution facility as it expands to meet growing market demand.<\p> Excel plans to invest $10.5 million and will create at least 37 jobs and perhaps as many as 69 over the next five years at the plant, which will be its second production location. The company will make wood residential interior doors at its new site in the Union Cross Industrial Center. <\p>
Visa, Mastercard 'swipe' fee settlement dealt a big blow
A nearly $30 billion settlement involving U.S. retailers and credit card giants Visa Inc. and Mastercard Inc. has been dealt a blow after a judge said it was unlikely she would approve the deal.<\p> During a June 13 hearing on preliminary approval of the proposed settlement involving “swipe” fees, U.S. District Judge for the Eastern District of New York Margo Brodie said she was unlikely to sign off on the deal. Brodie issued a written order on the case on June 25, and while the order itself was sealed, the accompanying memorandum on the court docket stated that the "court finds that it is not likely to grant final approval to the Settlement and accordingly denies Plaintiffs' motion for preliminary settlement approval."<\p>
Wimbledon champ, US open finalists to play in new Charlotte event
The Charlotte Sports Foundation is bringing a professional tennis doubleheader to Spectrum Center, headlined by defending Wimbledon men’s champion Carlos Alcaraz.<\p> The event, called the Charlotte Invitational, will be played Dec. 6 at Spectrum Center. It will feature two exhibition matches: Alcaraz against Francis Tiafoe, who ranks among the top 30 players on the men’s circuit, and Sloane Stephens against Madison Keys, who faced each other in the 2017 U.S. Open women’s championship match. Stephens beat Keys for the title.<\p>
Novant hires information security exec after data breach lawsuit
As health systems deal with cybersecurity risks and data breaches, Novant Health has hired a new C-Suite executive to navigate this digital landscape.<\p> The Winston-Salem health system appointed Sanjeev Sah as its chief information security officer. Sah is the newest member of Novant's C-Suite, which added several key hires and shuffled existing members to new roles this spring after departures and shake-ups last year. <\p>
Greensboro chef makes it to second round of Food Network competition
Greensboro personal chef and culinary consultant Lynn Wells was a semi-finalist on last night’s “A Stick to Your Ribs Stakeout” episode of “Supermarket Stakeout” on Food Network.<\p> While she did not go home with the grand prize of a year’s worth of groceries, Wells participated in two of the three rounds of competition. She ultimately was eliminated in the second round, which had the theme “Detox.”<\p>
D.R. Horton drops rezoning application for contested townhome project
D.R. Horton withdrew its application to turn the site of an equestrian center in Jamestown into almost 100 townhomes on Tuesday night after several residents spoke against the project at the town's council meeting.<\p> About 40 people packed the public hearing for D.R. Horton's application to annex and rezone the property which currently houses the Jamestown Equestrian Center. The 18.7-acre property is located at 1905, 1915 and 1903 Guilford College Road.<\p>
‘Lock-in effect’ restricts homeowners despite inventory improvements
A U.S. housing market that continues to see home-price appreciation, paired with higher-for-longer mortgage rates, may prolong the lock-in effect that's stymied inventory the past couple of years.<\p> Many housing economists predicted 2024 would see more relief for homebuyers by way of greater inventory and households more willing to sell their homes after being tethered to record-low mortgage rates obtained during the Covid-19 pandemic.<\p>
Couch on verge of Summerfield win as Senate passes de-annexation bill
For the second time in a matter of months, developer David Couch seems poised to win his battle with the Town of Summerfield and de-annex about 1,000 acres for his proposed Villages at Summerfield Farms.<\p> The North Carolina Senate approved legislation on Monday that would allow Couch to de-annex the land, which he has been trying to develop as a mixed-used community since 2016. <\p>
Guilford town set to rezone 45 acres to allow for major subdivision
More single-family housing could soon be homing to the Triad after the Stokesdale Planning Board recently approved a rezoning request for a 45-acre parcel of land.<\p> The planning board recommended approval for the rezoning of 45.79 acres from agricultural to single-family residential at its most recent meeting. The land is located at 7800 Eversfield Road, a mile north of the intersection of Eversfield Road and Oak Ridge Road. <\p>
Westin developers: Plans for project still in progress
A highly anticipated hotel project in downtown Greensboro is still in the works, according to the development group.<\p> "We are currently preparing the final building permit submission for City of Greensboro review and approval," the developers said in a statement provided by RLF Communications of Greensboro. "In conjunction with those efforts, we continue to work on finalizing construction pricing for the hotel in order to continue construction once permits are in hand.”<\p>
ProKidney raises $140M. Here's how the money will be used.
As it looks to restart manufacturing and clinical trials, ProKidney has raised $140 million through a public offering.<\p> Last week, the Winston-Salem public regenerative medicine company announced the upsized closing of a SEC-registered public offering and a registered direct offering last week, having originally targeted a $125 million offering.<\p>
Charlotte developer plans food truck park in downtown Winston-Salem
A permanent food truck park may be coming to downtown Winston-Salem this summer.<\p> Charlotte-based developer Kenneth Bell, a managing partner with KB Holdings, is working to transform a vacant 0.6-acre parcel at 1250 N. Patterson Ave. and the former Samaritan Ministries building across the street at 1243 N. Patterson Ave. With a projected opening date in late July, Bell is working “full speed ahead,” currently in the zoning stage of development.<\p>
Largest US steelmaker adds $20M fabrication facility to new Triad mill
The fabrication and installation affiliate of Nucor Steel is setting up a rebar facility near the steel mill the Charlotte company is building near Lexington, a $20 million investment expected to employ 25.<\p> The project was announced Tuesday by N.C. Gov. Roy Cooper and the state Commerce Department. Nucor Rebar Fabrication is the beneficiary of a $50,000 grant from from the One North Carolina Fund, which helps local governments attract economic investment and employers. The state grants require a matching grant from local governments.<\p>
NC bank gets OK for merger that will move it to $2 billion status
Raleigh's Dogwood State Bank has the all-clear to complete a deal that will make it a $2 billon institution. <\p> Dogwood and Community First Bancorporation of South Carolina have received all the required regulatory approvals to finalize their merger, which was announced earlier this year. <\p>
These jobs soared during the pandemic and are here to stay
Part-time job listings soared during the Covid-19 pandemic and have yet to recede — a potential sign that both workers and employers see benefits in the arrangements. <\p> Beginning in early 2022, the share of part-time jobs posted on job-search engine Indeed grew 10% before leveling off in 2023. <\p>
NAR settlement means 'summer of uncertainty' for real estate agents
Teresa King Kinney is no stranger to abrupt change in the real estate industry — and the National Association of Realtors' recent settlement is no exception.<\p> She’s been the CEO of the Miami Association of Realtors and its 60,000-plus agents since 1993. In that time, she's navigated several recessions, the Global Financial Crisis and the turbulent, unpredictable Covid-19 pandemic.<\p>
National firm gets help from NC, Graham to outfit specialized laundry
Business-services company Cintas is getting help from the state of North Carolina and Graham in outfitting a specialized clean-room laundry facility it opened last year in the Alamance County city to serve high-tech manufacturing, research and testing customers.<\p> The city of Graham is getting a $100,000 grant approved last week by the N.C. Rural Infrastructure Authority under the state Building Reuse Program, in the existing-building category. Graham City Council approved a local match valued at $5,065 in May. The program awards grants to local governments who in turn aid companies renovating buildings for economic development.<\p>
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