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Triad Business Journal
Restaurant supplier to use Triad site to expand line of premium meats
Restaurant and food-service supplier US Foods is coming to Lexington for an expansion of its Stock Yards line of steaks and chops, the city of Lexington announced.<\p> The location is a 220,000-square-foot space at 133 Lexington Parkway, which will support the expansion of the Stock Yards private label meats service. The site is the former Save-A-Lot distribution center, which Moran Foods sold earlier this year to Blue Owl Real Estate Capital LLC, a Chicago-based financial advisory firm with $25.3 billion under management nationally.<\p>
Former Circuit City CEO named executive mentor at Triad university
High Point university has named a former CEO of an electronics retail giant as an Executive in Residence.<\p> Alan McCollough, the former CEO of Circuit City, has joined HPU's Access to Innovators Program. McCullough will regularly visit the HPU campus to mentor students. <\p>
Deep River partner sees recent activity as sign of improving market
One of the Triad's largest developers has seen an increase in leasing activity in its office parks in Greensboro over the last year, which it sees as a positive sign for the office market in the Triad.<\p> Deep River Partners, a Greensboro-based real estate development, management and investment company, has signed leases totaling approximately 175,000 square feet in its office parks in the past year, which includes Green Valley Office Park, CentrePort and Airpark East. <\p>
Personal chef from Greensboro to compete on Food Network show
Lynn Wells, a Greensboro personal chef and culinary consultant, is taking her cooking — and persuasion — skills to the small screen on an episode on Food Network’s “Supermarket Stakeout” that will air Tuesday.<\p> Wells and three other chefs were challenged to compete in three rounds of competition, creating dishes in a pop-up kitchen outside of a grocery store. However, they do not shop for ingredients themselves. Instead, each chef must use the $500 allotted to them to negotiate with real shoppers exiting the grocery store for their shopping carts.<\p>
Rezoning advances McConnell Road area transformation to industrial
The transformation of a part of McConnell Road near the intersection of Interstate 40-85 and I-840 east of Greensboro into a de facto industrial park is continuing with the annexation and rezoning last week of a 19-acre parcel that’s a neighbor to sites with new industrial buildings.<\p> Greensboro City Council approved annexing into the city a 19.45-acre site of two parcels and giving it a city zoning designation of light industrial, with certain conditions, from a county agricultural zone. The properties are addressed as 3530 and 3534-A MCConnell Road.<\p>
New N.C. A&T chancellor: "We're going to keep our foot on the gas"
North Carolina A&T’s new chancellor knows he has big shoes to fill. And it doesn’t seem to scare him.<\p> “It was very clear to me that expectations are high. Good. That’s what I like,” said James R. Martin II, who was appointed the new chancellor of N.C. A&T on Friday.<\p>
Meet Triad Business Journal's 2024 Family Business Awards
From food production equipment to food service, Triad Business Journal is proud to announce the 2024 Family Business Award winners.<\p> The program, now in its eighth year, honors family-owned businesses in the Triad for overall excellence, innovation, ethics, philanthropy and contribution to the strength of our region.<\p>
The Playbook: The disconnect on vacation is getting better
Editor's Note: Welcome to The Playbook Edition, a look at stories, trends and changes that could affect your business and career. Want more stories like this in your inbox? Sign up for The Playbook newsletter. <\p> While many organizations have embraced hybrid work, there’s a chance it may not be the best option for certain groups of workers. <\p>
STITCH Design Shop grows with new headquarters and STITCH dwellings
STITCH Design Shop, a Winston-Salem based full-service architecture and design firm, has been working in the Triad for 10 years and is still growing, both in terms of brands and physical space.<\p> Earlier this month, STITCH announced it will be launching STITCH Dwellings, a full service residential design studio intended to service the firm's clients building homes both in North Carolina and outside the state. The sub-brand of the firm is intended to focus on customized design experiences for both new construction and home renovations throughout the whole building process, according to a press release from STITCH.<\p>
Damn Yankees: Couple brings NY-style deli to Triad with hopes for more
Steven Maier characterizes himself as a “jack of all businesses,” having spent much of his career flipping businesses and working as a real estate agent in Long Island, New York. Now, he is expanding his reach to a new industry in a new state, opening Damn Yankees Deli & Catering in Kernersville earlier this month.<\p> Maier and his wife Erica wanted to bring a piece of New York with them when they moved into their approximately 2,500 square-foot location at 234 N Main St. in Kernersville. Alongside decorating the deli with Yankees memorabilia and baseball-themed signs, Maier wanted to bring the New York-style “hero” sandwich concept to the area, not having found a sandwich shop that matched what he was looking for.<\p>
Member sues Triad's largest credit union over data breach
A data breach reported by a now-former contractor has led to Truliant Federal Credit Union facing the possibility of a class-action lawsuit even as it won a judgment against the contractor in a separate matter.<\p> A complaint on behalf of credit union member Kevin Payne of Winston-Salem was filed in U.S. District Court for the Middle District of North Carolina in Greensboro June 13.<\p>
IRS announces when payments on ERC claims will resume
The Internal Revenue Service plans to deny tens of thousands of improper Employee Retention Credit applications even as it promises to renew processing legitimate claims.<\p> The agency in an announcement this week said it had taken the time since its Sept. 14 moratorium on processing new ERC applications to analyze the more than 1 million ERC claims filed in 2023 — and found that between 60% and 70% showed an unacceptable level of risk.<\p>
North Carolina A&T names Pitt engineering dean as its 13th chancellor
James R. Martin II, an accomplished engineer and a vice chancellor at the University of Pittsburgh, will be the next leader of North Carolina A&T State University, the nation’s largest historically Black university.<\p> Martin, who leads the STEM and Innovation programs at Pittsburgh, was approved by the UNC Board of Governors in a special meeting Friday morning. He will be the 13th chancellor of the nation’s largest historically Black university. N.C. A&T is the second-largest university in the Triad, with a total enrollment of 13,885 students in the fall.<\p>
Cone Health to be acquired by nonprofit created by Kaiser Permanente
Greensboro-based Cone Health has agreed to be acquired, but not by a traditional health system.<\p> Instead, Cone Health will become part of a charitable organization that doesn't operate hospitals or physician practices.<\p>
National restaurant supplier to add 105 jobs in Lexington
Restaurant supplier US Foods expects to create 105 jobs and invest $93 million in reusing a recently vacated food distribution site in Lexington.<\p> The project was confirmed Thursday by the office of N.C. Gov. Roy Cooper and the state Department of Commerce in an announcement of grant requests approved by the N.C. Rural Infrastructure Authority. US Foods stands to get a $500,000 building re-use grant for the project.<\p>
National bank plans updated replacement branch in large Triad city
First National Bank of Pennsylvania, also known as FNB, has filed an application to open a branch on University Parkway in Winston-Salem.<\p> The bank’s application for a staffed branch in the Northchase Shopping center was received by the U.S. Office of the Comptroller of the Currency June 14.<\p>
Old Dominion cracks top 10 of NC's 100 largest public companies
Last month, Triad Business Journal looked at Triad-based public companies. This week, we look at the top 100 public companies in North Carolina ranked by market value on June 3.<\p> Charlotte metro-based companies continue to hold the top five spaces.<\p>
CEOs leading Triad biotech and apparel companies among highest-paid
This week Triad Business Journal looks at the highest-paid executives at Triad public companies. They are ranked by total compensation.<\p> There are 10 executives on this list whose base salaries in 2023 were in excess of $700,000, with three of them making more than $1 million. Adam Schechter, CEO of Laborp and the highest-paid executive of a public company in the Triad, has a base salary of $1.37 million. <\p>
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The Piedmont Triad region's source for local business news, breaking news alerts, newsletters, business intelligence and local business networking. An American City Business Journals publication.
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