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Regional Report Charlotte June 2012


Installer rises with the sun

North Carolina is a hot spot for solar energy, thanks to legislation requiring alternative-power production and tax breaks for those creating it. SunEnergy 1 LLC, a Mooresville-based solar-panel installer, has taken advantage of the spike, its contracts jumping from about $50 million last year to an estimated $130 million in 2012. Founded in 2009, it claims to have installed more than 40% of commercial systems built in the state and finished four — three for others, one for itself — of more than 1 megawatt capacity in 2011. A megawatt can power about 200 homes annually. Electricity generated by the systems is sold to utilities or used on-site.



Salisbury-based Food Lion LLC’s rank among the least-favorite grocery stores in the nation, according to a Consumer Reports survey



KANNAPOLISEi, a developer and maker of pharmaceutical and skin-care products, will expand operations, investing $13.2 million and adding 119 workers to its 250 here. The local company is seeking to commercialize research and patents developed at the Wake Forest University Institute for Regenerative Medicine. The average annual wage will be $37,616, higher than Rowan County’s average of $36,036.

CHARLOTTE Bank of America will sell 15 of its 36 Maine branches to Camden, Maine-based Camden National Corp. for $20 million. Camden will assume $414 million in deposits and $14 million of loans.

MIDLAND — Cabarrus County commissioners approved about $800,000 in incentives for Corning to expand its plant here. The Corning, N.Y.-based glassmaker plans to invest $50 million, nearly doubling its workforce of 70.

SALISBURY — Portland, Ore.-based Imperial Manufacturing purchased WA Brown, which makes walk-in coolers and freezers here, from Waynesboro, Va.-based Southern Stainless Equipment for an undisclosed amount. WA Brown is expected to retain its local workforce of 45.

CHARLOTTE — New York-based New Mountain Capital will partner with specialty-insurance broker AmWINS Group in a $1.3 billion equity restructuring aimed at growing AmWINS through acquisitions. Private-equity group Parthenon Capital Partners, based in Boston and San Francisco, will exit from its partnership with AmWINS.

CHARLOTTE — Chobani, which makes Greek yogurt, will create a sales headquarters in Charlotte, adding 43 workers to the 17 it has there and moving into a 5,200-square-foot office downtown. The Norwich, N.Y.-based company is a subsidiary of Agro-Farma. Average annual salary will be $70,000, higher than Mecklenburg County’s average of $51,584.

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