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Regional Report Triangle September 2013


High-tech startups lay it on thick in Triangle


Not all startups are created equal. According to, high-tech businesses in the U.S. between one and five years old created 16,700 jobs in 2011. Other types lost 513,700. The sector’s value becomes more apparent considering that high-tech is 23% more likely to have a business formation than the private sector as a whole. Unsurprisingly, Raleigh has a higher density of such startups than any other metropolitan statistical area in North Carolina, according to a new study by entrepreneur-advocacy groups Engine and the Ewing Marion Kauffman Foundation. But while its location quotient — an economic measure in which 1 equals the U.S. average — stayed roughly the same between 1990 and 2010, Durham-Chapel Hill has gone from below the U.S. average to nearly the equal of its Triangle neighbor.

“With that bit out of The Guardian on NSA collecting phone records of Verizon customers — everyone thought it best to not make the announcement just yet.”

— A June 6 email from interim Associate Vice Chancellor Randy Avent to N.C. State University administrators. More than two months later, the school announced it had received a $60.8 million grant, the largest in its history, from the National Security Agency to build a data-analysis lab on its Centennial Campus


in Raleigh. School officials say it will not be part of NSA’s mass-surveillance programs.

Source: The News & Observer, Raleigh


Apex’s rank on Money’s list of the best 50 small towns in the U.S. The magazine noted residential-housing permits were up 60% in the first quarter compared with 2012.


WakeMed Health & Hospitals will lay off 111 of its 8,500 Triangle employees as the health system anticipates losing $15 million for the fiscal year that ended in September. Most of the cuts will come from shuttering a 15-year-old nursing home in Fuquay-Varina. WakeMed officials say federal and state policy changes will cut hospital revenue by $23 million.

RALEIGH— Highwoods Properties completed a public offering of 4.3 million shares of common stock, raising $150.9 million.  The Triangle’s largest commercial landlord will use the proceeds on property acquisitions and new developments as well as general business purposes.

RALEIGH — A bankruptcy-court judge approved the sale of Seaboard Station in Raleigh to William Peace University for $20.8 million. The order allows the school to invest nearly two-thirds of its $33 million endowment to acquire the 90,000-square-foot shopping center. Its previous owner, Raleigh-based Gregory & Parker, filed for bankruptcy in 2012.

SANFORD — Central Carolina Hospital named Ronald Groteluschen chief financial officer. Groteluschen has more than 30 years of financial-management experience, mainly in the health-care industry. Most recently, he was controller of Frye Regional Medical Center in Hickory.

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