Skanska to build $137M STEM center at N.C. State

By

-

12/01/2023

NCSU_ISB_Exterior_Northwest (1) — 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.

FEMA sends $155M for Helene recovery, projects in western N.C.

By

Brad King

-

11/09/2025

0

FEMA has approved $155 million in new disaster aid for North Carolina, funding 130 projects tied to Hurricane Helene cleanup and recovery. The package includes $54 million for NCDOT infrastructure repairs and $40 million for two electric utilities, plus major debris and rebuilding grants in Henderson, Buncombe and other western counties.

Gov. Stein touts N.C.’s biotech, EV strength after Asia trade trip

By

Brad King

-

11/09/2025

0

Gov. Josh Stein returned from Japan and Taiwan meetings focused on attracting new investment from life sciences, EV battery, and food processing companies. Stein said tariffs dominated talks with executives amid Trump’s new 15% levies on Japanese exports, but he emphasized North Carolina’s biotech leadership and growing EV manufacturing hub.

Charlotte firm buys downtown Wilmington office in $15M deal

By

Brad King

-

11/09/2025

0

Charlotte-based Hilltide Capital has purchased the five-story office building at 101 N. Third St. in downtown Wilmington for $15 million, marking its first coastal acquisition. The Class-A property, home to Truist and LS3P, was built in 2015. Hilltide plans to expand its portfolio across coastal North Carolina.

Krispy Kreme posts $19M loss as restructuring follows McDonald’s breakup

By

Brad King

-

11/09/2025

0

Krispy Kreme reported a $19.4 million third-quarter loss tied to ending its McDonald’s partnership and ongoing restructuring. Sales fell 1.2% to $375.3 million as U.S. revenue dropped and international sales grew. The company is refocusing on profitable U.S. expansion, franchising abroad, and outsourcing logistics to cut costs.

Sherrill expands into modular, customizable home storage

By

Brad King

-

11/09/2025

0

High Point–based Sherrill Furniture debuted a new line of modular, freestanding storage cabinets aimed at designers and homeowners seeking customizable, American-made options. Built in Hickory, the line offers flexible configurations, quick lead times, and prices roughly half those of custom built-ins, reflecting Sherrill’s push into untapped furniture categories.

More than 50 baggage workers laid off at Charlotte Douglas airport

By

Brad King

-

11/09/2025

0

Bags, an Orlando-based baggage management firm, has laid off 56 employees at Charlotte Douglas International Airport after losing a contract, according to a state WARN notice. The cuts include baggage handlers, service agents, and supervisors, and coincide with FAA flight reductions tied to the ongoing federal shutdown.

Systel founder Keith Allison steps into chairman role as daughters lead company

By

Brad King

-

11/09/2025

0

After decades at the helm, Systel Business Equipment founder Keith Allison has transitioned to chairman, naming his daughters Janene Aul (CEO), Jacqueline Smith (president), and Cara Spencer (vice president) to lead the company. The move caps years of succession planning as Systel expands across the Carolinas and into neighboring states.

Outside groups pour money into Phil Berger’s GOP primary fight

By

Brad King

-

11/09/2025

0

A new PAC, NC True Conservatives, is spending millions on ads supporting N.C. Senate leader Phil Berger and attacking Rockingham County Sheriff Sam Page, his first major GOP primary challenger. Meanwhile, a dark money group called NC Families for Prosperity is running anti-Berger ads online, adding outside influence to the high-profile race.

Toyota execs pledge more U.S. investment

By

Ray Gronberg

-

11/07/2025

0

Toyota’s $13.9 billion battery factory in Randolph County remains a key piece of its plans for the U.S. going forward, company executives said this week during their latest earnings announcement.

“In all regions of the world, we want to produce locally and procure locally so that we can manufacture cars on that basis in each region,” said Takanori Azuma, chief officer of Toyota’s accounting group.

“For example, this year, in North Carolina, we have built a battery plant, which was a major decision, and this led to increasing the local procurement rate in North America,” Azuma said. “Our plan to produce locally as much as possible remains unchanged, so we would like to move or make efforts toward that going forward.”

Azuma’s comments came during a question-and-answer session with the Tokyo press corps after he and CFO Kenda Kon detailed the company’s results for the first half of its 2025-26 fiscal year.

Through Sept. 30, the company reported $11.6 billion in net income, a 7% decrease from the same time the year before. The company expects full-year operating income of $22.2 billion, or 29% less than in fiscal 2024-25.

The Trump administration’s tariffs aimed at promoting U.S. manufacturing are a major factor, prompting a $9.5 billion hit for the Japanese company’s full-year results, Toyota estimates.

The factory in Liberty has about 2,000 workers assembling battery components for the Corolla Cross hybrid electric vehicle and, starting in September, for Camrys made in Kentucky, Toyota said in July. Toyota broke ground on the Liberty factory in 2021 and has said it eventually will employ more than 5,000 workers.

Azuma’s comments on the North Carolina factory came in response to a question about how Toyota will deal with the tariffs. President Donald Trump recently said Toyota plans a $10 billion investment in the U.S., but the company isn’t confirming that number.

“The United States really wants to see employment increasing, and customers should be served with the next generation of cars and services,” Kon said. “Therefore, we do plan a sizable investment plan going forward.

“I cannot really say it’s $10 billion, but I would say Toyota will continue to make a sizable investment in the United States. I have to limit myself to that.”

PNC expansion includes Asheville, Wilmington and Winston-Salem

By

BusinessNC

-

11/07/2025

0

PNC said it plans to add a dozen branch offices in the Triad region, plus two each in Asheville and Wilmington over the next five years as it builds on its existing North Carolina footprint.

The additions were among the 100 new offices that Pittsburgh-based PNC announced today, building on its previous plan disclosed last year for 200 new branches nationally by 2030. Those prior growth efforts disclosed last November included 25 more offices in the Charlotte market and about 10 in the Raleigh area.

PNC say it is among several large banks expanding in North Carolina because of the state’s growing population, strong business activity and a record of successful banking and wealth management operations here, said Jim Hansen and Weston Andress, who are PNC regional presidents.

The latest expansion will extend PNC’s growth in about 20 markets nationally and add more than 2,000 employees to its retail staff, including hundreds in North Carolina. Plans also call for renovations of more than 1,000 existing PNC offices. The overall investment entails an investment of about $2 billion.

“Our company is investing meaningful dollars in the state and it’s our responsibility to make sure the dollars are invested wisely,” says Andress, who is PNC’s regional president in western North Carolina.

PNC entered North Carolina principally through its 2011 purchase of Royal Bank of Canada’s U.S. banking subsidiary. In turn, the Canadian bank had moved into the state through its 2001 purchase of Rocky Mount-based Centura Bank.

The new plans include a major emphasis in the Nashville area, with about 40 more offices, and Chicago, where 25 offices are to be added. “At PNC, we know the importance of building deep local connections. Our branches serve as vital community hubs where trusted relationships are built and financial aspirations made real,” said Alex Overstrom, head of Retail Banking.

PNC Bank has the fourth-largest U.S. branch network with more than 2,200 branches nationwide. It had assets of $569 billion as of Sept. 30 and is among the largest wealth management companies.

In North Carolina, PNC has 102 offices and $11.5 billion in deposits as of June 30, according to FDIC data. That ranked sixth in the state, behind Bank of America, Truist, First Citizens, Wells Fargo and Live Oak, which operates almost exclusively online.