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Friday, April 25, 2025
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Skanska to build $137M STEM center at N.C. State

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Artist rendering of $136.7 million science building being built on the N.C. State University campus.

N.C. State University picked multinational contractor Skanska to build the $136.7 million Integrative Sciences Building, marking one of the biggest UNC system projects of the year.

The 164,947-square foot building will be used to promote STEM teaching and research as part of the university’s efforts to expand science education. It will include classrooms, teaching and research labs, faculty spaces and a cafe.

Departments using the building will include chemistry, biochemistry and biotechnology research.

The building will “revitalize the marquee Brickyard, one of the nine hallowed places on the north campus,” said Mark Balling, Skanska’s executive vice president for North Carolina and Virginia building operations, in a release. Richmond, Virginia-based Moseley Architects is the building designer.

The project is expected to be completed in September 2026.

Skanska, which is based in Stockholm, Sweden, has previously built several N.C. State structures, including Fitts-Woolard Hall; the Golden LEAF Biomanufacturing Training and Education Center; the James B. Hunt Jr. Library; and Engineering Building III at N.C. State.

Gaston County backs incentives for 701-job, $435M manufacturing project

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Gaston County commissioners approved incentives for Project Nexus, a proposed manufacturing operation that could create 701 jobs with $52K+ average pay. The investment could reach $435M. A final site decision is expected in June, with operations beginning in early 2027 if Gaston is chosen.

Live Oak Bank posts Q1 growth, but earnings miss analyst expectations

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Wilmington-based Live Oak Bank saw Q1 revenue rise 8.5% to $126.1M, but EPS fell to $0.21, missing analyst estimates. Record loan production and deposit growth were offset by rising expenses and provisions for credit losses amid economic uncertainty. Net income dropped to $9.7M.

Walmart leads Raleigh grocery market, but Publix gains fast

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Walmart holds the top grocery market share in Raleigh at 21.3%, with Food Lion and Harris Teeter tied at 14.6%. Publix has surged to 6.9% with 11 stores, surpassing Target and Costco. Despite the boom, parts of Southeast Raleigh remain food deserts with poor transit access.

Medicaid cuts could hit N.C.’s elderly and disabled hardest, advocates warn

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Advocates and caregivers are alarmed by potential federal Medicaid cuts, fearing they could eliminate vital services like in-home nursing and adult day care. More than 3 million North Carolinians rely on Medicaid — especially in rural areas — with optional waiver programs most at risk. Advocates stress cuts would also indirectly affect Medicare beneficiaries.

WRAL’s Debra Morgan set to anchor final newscast after 32-year career

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Beloved WRAL anchor Debra Morgan will step away from the desk on May 21 after 32 years in Raleigh. Known for her calm presence through hurricanes, Olympic Games and local triumphs, Morgan has earned 12 Emmys and widespread community respect. WRAL will air a tribute special on her final day.

Charlotte rents dip just $1 despite record apartment boom

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Charlotte’s average apartment rent dropped just $1 year-over-year to $1,644 in Q1 2025, per CoStar, as demand matched record supply. More than 17,000 new units opened in 2024, but concessions remain common. Suburban rents rose, while Lower South End saw a 3.1% drop. Developers are slowing construction amid economic uncertainty.

Lauren, Jrue Holiday join NC Courage ownership group

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Former NWSL MVP Lauren Holiday and NBA champion Jrue Holiday have become major investors in the NC Courage. Lauren brings championship experience and will focus on player development to the women’s soccer club. Their “substantial” stake places them among the club’s top five investors. A new stadium remains a key priority.

Dave & Buster’s hiring 80+ for new Wilmington location

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Dave & Buster’s will open its first Wilmington location at Mayfaire Town Center on May 26 and is hiring more than 80 employees. Available positions include servers, bartenders, cooks, game techs and more. Applicants can apply online.

American Airlines wary of travel industry prospects

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American Airlines joined other major U.S. carriers in pulling its financial forecast for 2025, citing the uncertain economic outlook that so far this year has weakened U.S. air travel.

Charlotte Douglas International Airport’s largest carrier posted lower U.S. passenger revenue and related results in the first quarter after a pullback in discretionary spending by consumers, especially on travel, American CEO Robert Isom said.

The Fort Worth, Texas-based company exited 2024 with “positive momentum’’ that
decelerated quickly early this year, Isom told analysts on a conference call earlier today. “The economic uncertainty in the market has pressured demand and impacted American’s first-quarter results and second-quarter outlook.’’

American withdrew its full-year forecast, mirroring earlier moves by Delta and Southwest
airlines reflecting softening sales amid uncertainty from the global tariff war sparked by
President Donald Trump’s administration.

As more U.S. CEOs brace for a possible recession, a new poll found roughly half of U.S. adults believe that Trump’s trade policies will increase prices “a lot.” Another three in 10 think prices could go up “somewhat,” according to the poll by The Associated Press-NORC Center for Public Affairs Research.

American shares rebounded today, erasing slightly its drop of more than 45% so far this year after shifting U.S. tariff policies led to retaliation by major trading partners and stoked the possibility of a recession. The stock rose about 2.5% to $9.56 a share in mid-afternoon trading.

The carrier posted revenue of $12.55 billion in the first quarter, in line with analyst
expectations, according to a statement. It reported an adjusted EPS loss of 59 cents, less than the 67 cents expected by analysts.

American expects to produce a profit and positive free cash flow in 2025, according to Isom. He repeatedly cited the economic uncertainty but in his introductory remarks to analysts refrained from mentioning Trump or his administration’s role in it. He did join other airline executives in urging the elimination of aerospace-related tariffs.

American is prepared for what Isom called “a challenging economic environment’’ after
generating free cash flow of $1.7 billion in the three months through March 31. It ended the first quarter with cash and restricted cash of $931 million, compared to $703 million a year earlier.

Efforts by American to refresh its fleet in “a very different economic environment’’ in recent years eased requirements for capital spending for the rest of the decade, the CEO said. He added that if the economy turns down, the carrier can reduce its capacity by returning leased planes or deferring orders for new aircraft without hurting service.

Fujifilm inks $3B Regeneron deal ahead of Holly Springs plant opening

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Fujifilm Diosynth has landed a $3 billion, 10-year manufacturing deal with Regeneron at its Holly Springs facility, which is set to open later this year. It’s the third major customer after Johnson & Johnson and TG Therapeutics. The site is the Triangle’s largest life sciences project.