Dentsply Sirona, a York, Pa.-based dental-supply company, is moving its headquarters to Ballantyne Corporate Park in Charlotte. The company said last year it was adding more than 300 jobs and establishing a commercial hub in the Queen City. Dentsply Sirona, a publicly traded company with $3.9 billion in sales in 2018, designs and makes sealants, whiteners, fluoride and dental lab equipment.
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Education-technology company Pearson recently opened a new 31,000-square-foot technology hub in Durham and is looking to add 100 employees in the next two years. The textbook and educational-services provider employs 24,000 people in 70 countries, including 150 in the Triangle.
The Asheville Downtown Commission approved Harrah’s Cherokee Casino’s naming rights to the city-owned downtown arena. Harrah outbid U.S. Cellular, the current rights holder, with a five-year contract worth $3.25 million, according to The Asheville Citizen-Times. U.S. Cellular’s naming rights expire at the end of 2019. Asheville City Council is expected to vote on the proposal on May 28.
Mooresville-based home-improvement retailer Lowe’s Cos. is considering the Charlotte region and Dallas for a planned 2,000-person technology hub. The jobs include software engineers, infrastructure engineers and data analysts.
SunTrust Banks is moving its mortgage leadership team and 2 to 3 dozen team members from Richmond to Greensboro over the next two years. The team will not move until after SunTrust’s $66 billion merger with BB&T Corp., expected to close in the fourth quarter, is complete. The bank will operate under a new name after the merger and will establish a headquarters in Charlotte.
Tryon Medical Partners, the Charlotte area’s biggest independent physicians’ practice, says it signed a contract to join the North Carolina State Health Plan network. The move aligns the 90-physician group with State Treasurer Dale Folwell’s plan for a reimbursement schedule that the N.C. Healthcare Association has attacked with a multimillion-dollar advertising campaign suggesting patient service disruption and major financial harm to the state’s hospitals. The N.C. State Health Plan covers more than 700,000 teachers, state employees and retirees, making it the biggest health care purchaser in North Carolina.
Stephen Condon Peters, owner of Raleigh’s VisionQuest Wealth Management, went on trial Thursday for allegedly taking part in an elaborate Ponzi scheme. The investment adviser is accused of swindling customers out of more than $15 million, according to a report from WRAL. Prosecutors claim Peters diverted $6 million for personal use and used the remainder to pay off earlier investors.
Borealis, an Austria-based producer of polyolefins, base chemicals and fertilizers, officially opened its polypropylene compounding plant in Taylorsville in Alexander County. The 50,000-square-foot plant adds 66 million pounds of capacity, according to a press release. The company has said it plans to invest $15 million and employ 37 at the plant. The compounds will be used initially in automotive interior and exterior parts. The company has 6,000 employees globally.
All 19 Brunswick County Schools have been approved to enroll in the federal Community Eligibility Provision program after Hurricane Florence and will now offer all students free breakfast and lunch. CEP allows schools with 40% or more students receiving free or reduced-price meals to offer free meals to every student, according to the Star News. The school system has offered free breakfast to its elementary school students since 2014.
Mayor Nancy Vaughan said Greensboro plans to sue the 10 biggest violators of the city’s housing code in July to send a message to apartment owners that aren’t maintaining properties. The city is sorely lacking affordable housing and too many property owners are taking advantage of record-low vacancy rates by failing to meet city codes, she said Wednesday. One target of Greensboro officials is Arco Realty, which owns a Summit Avenue apartment complex that caught fire just over a year ago, killing five children.
The privately held NASCAR racing organization said it will buy publicly traded International Speedway Corp. for $2 billion. Speedway owns 12 tracks that host NASCAR races. Both organizations are controlled by the France family and exert great influence on America’s most popular racing series. The transaction follows plans by Charlotte-based track operator Speedway Motorports Inc. to be acquired by the Smith family, which founded the company. Speedway and ISC host most of the sport’s top-level races.
Lowe’s Cos. stock dropped by more than 11% Wednesday after reporting first-quarter earnings that missed Wall Street expectations. The Mooresville-based home improvement retailer reported earnings per share of $1.22, lower than the estimated $1.33. Lowe’s CEO Marvin Ellison blames cost increases for lower profit margins.
There was a 21% increase in IT job openings in the Raleigh, Durham/Chapel Hill, Greensboro/High Point and Charlotte areas in April compared with last year, according to the NC Technology Association. More than 31,000 IT job openings were listed across the state, 35% higher than in April 2018, but down from 32,346 in March.
The Greensboro City Council appointed Charles Watts city attorney, effective June 1. Watts has served as general counsel for the N.C. Department of Transportation since 2017. He succeeds interim city attorney Jim Hoffman, who replaced former city attorney Tom Carruthers after he stepped down in October.
Lindsay Bierman, the chancellor of UNC School of the Arts, is stepping down on July 31 to take over as CEO of UNC-TV Public Media North Carolina. Bierman, who has served as chancellor since 2014, succeeds Brian Sickora. Steven Hammel and Kevin FitzGerald have served as interim co-CEOs since Sickora stepped down in 2018.
Precision Biosciences has struck a $50 million credit agreement with Pacific Western Bank. The Durham-based pharmaceutical company, which recently closed on a $130 million IPO, is developing treatments for cancer and genetic diseases using a genome editing platform and began trading publicly March 29.
German grocery store chain Lidl is building a new location in north Raleigh and Cary. Both stores are expected to open in spring 2020. Lidl is also working on new stores in Charlotte, Greensboro, Matthews and Wilmington. The Raleigh store will be 36,000 square feet with 180 parking spots and the Cary location will be 29,500 square feet with 120 parking lots. Lidl has 10,500 stores spread across 29 countries.
Duke Energy is moving ahead with a $30 million installation of a microgrid in western North Carolina after state regulators approved the plan. Duke plans a 2-megawatt solar facility and a 4-megawatt lithium-based battery storage facility in Hot Springs in Madison County. The North Carolina Utilities Commission said the Hot Springs Microgrid should be approved as a pilot project, noting its solar generation-related components supported “the public interest.” Microgrids are designed to fun independently of the main national electric grid.
The South Carolina-based Catawba Indian Nation’s plan for a $340 million casino in Kings Mountain is winning support from some key N.C. leaders, while others remain strongly opposed. The Catawbas have sought approval for the project for many years, while bucking opposition from the Eastern Band of Cherokee Indians, which operates casinos in western North Carolina.
American Bank & Trust, an 18-employee community bank, opened in Monroe this week after meeting its $22 million minimum capital requirement in April. It is the first community bank to open in the state in a decade. The bank hopes to open a Wingate location in June.
Lincolnton-based Tenowo Inc. is investing $4.5 million in equipment and an expansion of its plant. The nonwoven textiles company, which supplies automotive, industrial and apparent markets, could receive as much as $71,487 in incentives from the Lincoln County Board of Commissioners.
Steve Motew, senior vice president of Novant’s Winston-Salem market, was named chief physician executive of Falls Church, Va.-based Inova Health System. Inova has more than 18,000 employees and five hospitals in northern Virginia. Motew previously served as Novant’s senior vice president of physician services for physician clinics.
Ascena Retail Group is closing all 650 of its Dressbarn locations, including 20 in North Carolina. The company did not provide a timeline for store closures. Dressbarn has sold women’s discount clothing for more than 50 years.
Wilmington-based Zimmer Development Co. wants to rezone a property off of Capital Boulevard in Raleigh to allow for a mixed-use project as high as 40 stories. The land, owned by Augusta, Ga.-based Morris Communications, is zoned for 12 stories. The project would include commercial, retail, residential and office space.
European Union regulators have until June 27 to approve or reject the proposed $34 billion purchase of Raleigh’s Red Hat by IBM. The deal, which was announced last October, is expected to close in the second half of this year and was already approved by the U.S. Justice Department.
Asheville brewery Dssolvr plans to renovate a historic downtown building at 63 N. Lexington Ave. The 5,500-square-foot building, which once served as the Asheville Community Resource Center, will be transformed into a bar and taproom with 20 taps pouring beer, mead, wine and cider.
The UNC System and East Carolina University are seeking an injunction to block changes that eliminated the UNC Board of Governors’ authority to name appointees to the board of Greenville-based Vidant Medical Center. UNC filed the complaint in state Superior Court in Orange County, contending Vidant breached a 2013 agreement that enabled the system’s board to appoint a minority of board members. Vidant has said the changes will lead to improved governance of the not-for-profit hospital authority. ECU oversees the Brody School of Medicine, which sends Vidant a steady supply of student physicians.
Michael Chasen will succeed Intel’s Brian Krzanich as chairman of the Federal Aviation Administration’s Drone Advisory Committee. Chasen is CEO of Raleigh-based PrecisionHawk, which develops technology for unmanned aircraft. PrecisionHawk has attracted $75 million in financing since 2017 and expects to employ more than 350 people by year-end.
South Carolina lawmakers approved $115 million in tax credits for the Carolina Panthers to move its headquarters and practice facility to Rock Hill. Gov. Henry McMaster is expected to sign the bill into law. The NFL franchise plans to buy up to 200 acres and break ground later this year on its new athletics facility.
Discount grocery chain Lidl plans to add 25 East Coast stores by spring of 2020, including locations in Cary, Charlotte, Greensboro, Matthews, Raleigh and Wilmington. Meanwhile, Lidl plans to close its stores in Kinston and Rockingham this summer. The German grocer is currently hiring for about 100 positions at its Alamance County distribution center and regional headquarters.
In August, Bank of America will close its only bank branch and ATM in Washington, N.C. The bank began notifying customers of the closure last week. The nearest branch for local BofA customers will now be in Greenville. BofA is also closing rural branches in Henderson, Highlands and Marion.
Greensboro-based Cross Company leasing 16,000 square feet at the 116-year-old, 600,000-square-foot Loray Mill in Gastonia. Cross provides technologies to improve manufacturing operations.
Nonprofit groups focused on sustainability are teaming with real-estate developers in western North Carolina to ensure new neighborhoods preserve the area’s natural beauty. The approach creates wildlife corridors and protects mountaintops and waterways from development.
Amid record-setting passenger traffic, Raleigh-Durham International Airport has added two lanes at the TSA security checkpoint in Terminal 2 for a total of 12. Passenger screenings increased 39% from 2014 to 2018, airport CEO Michael Landguth told the Durham Herald-Sun.
Home-improvement retailer Lowe’s is bolstering its technology capabilities by acquiring the retail analytics platform from Boomerang Commerce, a Mountain View, Calif.-based company with employees in Bangalore, India. The deal will assist in “modernizing and digitizing Lowe’s approach to pricing,” according to a press release.
CaroMont Health plans a 60-to-80-bed regional medical center near Belmont Abbey College, pending state approval. The $173 million expansion is expected to open by 2023. The Gastonia-based health care system also plans to spend $70 million to add 50 beds to its 435-bed main hospital. Finally, CaroMont says it is budgeting $82 million for new medical offices in Bessemer City, Cramerton and Gastonia. CEO Chris Peek said it may be a record company investment in Gaston County.
With an expected $643 million surplus anticipated in the fiscal year ending June 30, state Republican leaders are crediting tax cuts initiated in recent years as a key factor in the gains. The Republican-controlled legislature has reduced the state’s corporate tax rate from 6.9% in 2013 to 2.5% in 2019 — lowest in the country for states that have a corporate tax rate. Corporate taxes have cumulatively declined more than $600 million annually because of the changes. Gov. Roy Cooper opposes further tax breaks for corporations and the wealthy and prefers investments in public education including K-12, community colleges and universities, a spokesman said.
Charlotte-based Bank of America is closing 16 branches in the Chicago area in July, about 10% of the footprint in the nation’s third-biggest metro area. BofA is Chicago’s third-largest bank by deposits and plans to close six offices in the city and 10 in various suburbs. Bank officials say they expect to open 11 new branches over the next few years that will help achieve faster growth.
Raleigh Brewing Co. plans a craft beer tavern at Raleigh-Durham International Airport’s Terminal 1, marking the first of its type at the site. The tavern will also sell coffee from North Carolina’s Port City Java. Raleigh Brewing is among the state’s few women-owned breweries in the state, led by CEO Kristie Nystedt.
Rockingham County commissioners are expected to meet today to discuss incentives for the $20 million facility that Iowa-based Pella Windows plans in the area north of Greensboro. N.C. officials have already approved incentives of $1.2 million that depend on Pella meeting job and investment targets. The jobs will have an average salary of $41,648.
Carrons Funeral Home, which has operated on Nash Street in Wilson since 1985, is moving a mile to a larger location with better parking options. The business started more than 100 years ago as Darden Funeral Home, then later operated as King & Darden Funeral Home.
VF Corp.’s Steven Rendle, who is moving the apparel company’s headquarters to Denver, was the highest-paid CEO based in the Triad with 2018 compensation of $13.7 million, a study by the Winston-Salem Journal shows. Greg Gantt of Old Dominion Freight Line was second at $9.7 million, while Gerald Evans Jr. of Hanesbrands collected $8.8 million. VF is spinning off its jeans business, Kontoor Brands, with shares of the new company expected to start trading on May 22. Kontoor is based in Greensboro.
Tariffs on Chinese imports levied by the Trump administration may increase the cost of housing, auto parts and many other products, Charlotte-area business owners say. Meanwhile, North Carolina farmers are bracing for the negative impact of tariff increases that China plans to impose on $60 billion of U.S. goods starting in June.
Asheville-based Mission Hospital President Jill Hoggard Green is leaving to take over as president and CEO of Honolulu-based nonprofit health care organization The Queen’s Health Systems. She replaces Art Ushijima, who plans to retire in 2020 after 30 years. Hoggard Green has worked at Mission since 2011. Her successor has not been named.
A proposal submitted by developer Philip Woollcott to convert Asheville’s historic Flatiron Building into a 80-room boutique hotel with a restaurant and bar was withdrawn from consideration prior to a city council vote. The project was expected to be voted down by council members due to community concerns that Asheville already has too many hotels.
Brown Investment Properties of Greensboro submitted plans for a five-story, 54,000-square-foot mixed-use building near downtown Greensboro in the Battleground corridor. The project would include 34,200 square feet of office space and 32 apartments.
Raleigh-based McConnell Golf is taking over management at Porters Neck County Club near Wilmington. The club recently filed a federal lawsuit against its insurance company, Allied World Assurance Co., alleging the firm failed to honor its contract after Hurricane Florence caused $7.5 million damage to the course. The suit claims the insurer has only paid $750,000 of $6 million that should have been covered. The club features a Tom Fazio-designed course and is located along the Intracoastal Waterway.
Terra Dotta LLC raised $3.4 million in equity from two investors. The Chapel Hill-based company’s education software manages data for more than 575 educational institutions and businesses. Terra Dotta was co-founded by UNC grads Brandon Lee and Garret Christian.
Red Hat shares soared to a new high Thursday after Warren Buffet upped his ownership in the Raleigh-based software company by more than 22%. Stocks rose to $185.27, below the $190 per share cash offer from IBM.
Waste Industries of Raleigh purchased Hampstead-based Axon Disposal Service. Financial details were not disclosed. Axon, which provides trash collection services in Pender County, will be rebranded as Waste Industries.