Triad Business Notes

[zalo]

Winston-Salem is the No. 1 city of its size in the "2014 Digital Cities Survey" by the Center for Digital Government. It's a survey of how well local governments use digital technology.

This year's survey focused on "which initiatives cities were most proud of in the areas of citizen engagement, policy, operations, and technology and data," according to a press release from the Folsom, Calif.-based organization. Winston-Salem was the top city among those with a population of 125,000 to 249,999. Durham was tied for fourth place with Hampton, Va., in the same category.

Other North Carolina cities in the ranking included Raleigh, tied for No. 5 with Riverside, Calif., in the 250,000-plus population category, and Greenville, tied for second with Ann Arbor, Mich., in the 75,000-125,000 category. The top-ranked cities "brought about impressive change across all aspects of government by leveraging information technology investments to expand open government, citizen participation and shared services," said Todd Sander, executive director of the Center for Digital

[RichardC]

You mean the Triad Business Journal actually admitted the info above?...Whoa!

[zalo]

There will be an updated addendum to the article announcing that Greensboro is yes indeed located in the center between Durham & Winston.

[zalo]

The N.C. Humanities Council is moving its administrative offices to Charlotte from Greensboro, its home since it was formed in 1972. Paula Watkins, the council's executive director, will move to Charlotte, while the council's four other staff members declined to move and will not be employed by the organization, effective Jan. 31, when it will open its new offices in the Center City campus of the University of North Carolina at Charlotte.

Council officials said the move aims to take advantage of opportunities for organizational development and collaboration in Charlotte. "Charlotte is the state's most dynamic metropolitan market, increasingly cosmopolitan and home of vibrant business, education and cultural sectors," Neva Specht, chair of the council's board of trustees and senior associate dean of the College of Arts and Sciences at Appalachian State University, said in a statement.

"Although based in Charlotte, the Council will remain a statewide organization dedicated to providing excellent humanities initiatives in all 100 counties in North Carolina," she said.

http://www.bizjournals.com/triad/news/2014/12/04/nonprofit-relocating-to-charlotte-from-greensboro.html?page=all

[zalo]

Really hated to hear about this outcome for this bio-tech firm that had they made some viable progress could have been a strong growing company with the potential of putting Winston & the Triad on the map. It would have been awesome to see this WFIQ concern growing into to hundreds of employees downtown.

http://www.bizjournals.com/triad/news/2014/12/30/tengion-came-back-from-the-brink-multiple-times.html?page=all

Edited December 30, 2014 by zalo

[zalo]

This story from the TBJ begs the question: Will W-S or Triad gain a good number of jobs from this merger?

Residents of Lititz, Pa., have a question on their minds: What will Winston-Salem-based BB&T Corp. do once it's finished acquiring Susquehanna Bancshares Inc., which is headquartered in the borough? About 500 Susquehanna (NASDAQ: SUSQ) employees work in downtown Lititz, LancasterOnline reported. The assessed value of the bank's properties in the area is about $6.9 million. The fate of the workers and real estate is "the million-dollar question," Karen Weibel, president of the Lititz Borough Council, told LancasterOnline. Susquehanna is a key employer in a borough with a population of about 9,400.

Brian Davis, spokesman for BB&T (NYSE: BBT), told me this week that his company was "still working on the details" of the merger and had no announcement regarding Lititz. BB&T announced in November that it would acquire Susquehanna, a top 50 U.S. bank, in a $2.5 billion cash and stock transaction. The acquisition will boost BB&T's Mid-Atlantic presence, as Susquehanna has 245 banking offices in Pennsylvania, New Jersey, West Virginia and Maryland. The deal is expected to be completed this year.

The merger is expected to bring job cuts and facility closures as BB&T seeks to reduce Susquehanna's expenses by 32 percent, or $160 million a year. To partially make up for the losses, BB&T will set up a $10 million foundation in Lancaster, Pa., a few miles from Susquehanna's headquarters. But residents and local officials are still waiting to hear what will happen in Lititz. As Weibel told LancasterOnline: "Everybody's dying to know."

[cityboi]

Greensboro based apparel maker VF Corp, the city's only fortune 500 company plans to open 150 retail stores worldwide most being in the United States. VF Corp is the parent company of Wrangler which also is headquartered in Greensboro. The company already operates 1,401 retail stores. VF Corporation owns brands such as Wrangler, Lee, Nautica, Timberland, Eagle Creek, 7 for all mankind, Vans, The North Face, JanSport, Eastpak and Rustler.

 

http://www.news-record.com/business/local_business/vf-corp-plans-to-open-new-retail-stores/article_9912d916-b7c6-11e4-9e6f-5330e1434695.html

Edited February 19, 2015 by cityboi

[zalo]

The TBJ reports on one of Winston's Fortune 500 companies continues with the rollout of its successful next generation product.

 

 

R.J. Reynolds Vapor Co., a subsidiary of Winston-Salem-based Reynolds American Inc., said it has completed the final wave of expansion for its VUSE digital vapor cigarette, increasing the brand's presence to about 100,000 retail outlets nationwide. The company began national distribution of VUSE last year after launching the product in test markets in Colorado and Utah.

"We are pleased with the brand's success to date, and are excited that this final wave of expansion will provide even more adult smokers with a quality alternative to traditional cigarettes in our continuing mission to transform tobacco," said Fred Ampolini, president of R.J. Reynolds Vapor Co.

In an earnings announcement earlier this week, Susan M. Cameron, CEO of Reynolds (NYSE: RAI), outlined progress in the company's "tranforming tobacco strategy," including:

The addition of four styles of digital vapor cigarettes.

The start of the national expansion of Niconovum USA's ZONNIC nicotine replacement therapy gum.

R.J. Reynolds Tobacco Co.'s launch of REVO, which uses heat-not-burn technology, in Wisconsin.

"Our companies' innovative new products across categories are enhancing prospects for commercial success in an evolving marketplace, while also underscoring our commitment to reducing the harm caused by tobacco," she said. Last year, Reynolds said it was adding 200 jobs to its Tobaccoville manufacturing complex to support production of VUSE. About 70,000 square feet within the 2 million-square-foot facility will be dedicated to VUSE production.


Reynolds plans to keep VUSE as part of its $27.4 billion merger with Greensboro-based Lorillard Inc. (NYSE: LO), whose blu eCigs brand would be sold to Britain's Imperial Tobacco.

[cityboi]

Jaguar/Land Rover eyeing U.S. auto plant in NC?

 

Add another car manufacturer to the list that could be considering North Carolina. There are two sites in NC that is being pushed for an auto plant, both being in the Triad. Maybe NC can get both but that depends on whether or not the GOP controlled state general assembly will support incentives for two car manufacturers.

 

http://www.bizjournals.com/triad/news/2015/02/20/jaguar-land-rover-reportedly-eying-u-s-plant-n-c.html

[Euphorius]

The Chatham County megasite is not in the Triad, it's in the Triangle. The Triad would benefit from close proximity to the Chatham site, but it would not be in the Triad unless the buildings on the site are all in the tiny Randolph county section of the site. 

[zalo]

The TBJ reports:

Winston-Salem ranks 105th and Greensboro-High Point ranks 142nd in a new analysis of the labor markets of the largest 150 U.S. metropolitan areas.

The inaugural Labor Market 150 Index presented by CareerBuilder and Economic Modeling Specialists International relies on "several historical and leading indicators that measure the overall dynamism and balance" of the labor markets, according to CareerBuilder and EMSI. Factors include employment levels, unemployment rates, job listings growth and "the abundance of high-paying new jobs."

Here's how North Carolina's metros rank nationally:

Raleigh — No. 3
Charlotte-Concord-Gastonia — No. 38
Durham-Chapel Hill — No. 39
Winston-Salem — No. 105
Asheville — No. 116
Fayetteville — No. 119
Greensboro-High Point — No. 142
Hickory-Lenoir-Morganton — No. 149

According to the index, Provo-Orem, Utah, is the country's No. 1 labor market.

[cityboi]

A large Aviation Company could be eying PTI Airport which could create thousands of jobs. The city of Greensboro is looking at spending 2.5 million in infrastructure. Could we be seeing another company like Honda Aircraft Company?

 

Greensboro will next week consider spending $2.5M on infrastructure needs at the Piedmont Triad International Airport - Greensboro - Triad Business Journal

Edited February 25, 2015 by cityboi

[cityboi]

Greensboro based VF Corp to open global Innovation center at Gateway University Research Park. VF Corp is a fortune 500 company and is the maker of brands such as Lee, Wrangler, Nautica and Timberland.

 

http://www.bizjournals.com/triad/news/2015/02/25/vf-selects-gateway-university-research-park-for.html

Edited February 25, 2015 by cityboi

[zalo]

Looks like Lowes Foods is getting assertive about staking their claim in the food store wars. They have done a great job on their new format and looks as though shoppers are responding positively. The grocer plans to move into the Greenville, S.C., market in 2016, the first of up to four new geographic markets it will add by 2019. Multiple stores are planned for Greenville. The four-year growth effort will include rebranding 2.5 million square feet of existing store space and building new stores with as much as 1 million to 1.5 million square feet.

Following a 2014 that saw the rebranding of 10 stores and construction of three new ones, Winston-Salem-based Lowes Foods announced plans to continue that aggressive growth by expanding its footprint in 2015 and beyond.

http://www.bizjournals.com/triad/news/2015/02/27/lowes-foods-planning-to-add-dozens-of-new-stores.html?page=all

[zalo]

Various Triad media outlets are reporting that Winston-Salem is in the running for 300 additional high paying jobs that could be created at the newly opened Herbalife Manufacturing & Innovation center in the former 800,000 square foot Dell facility. Local and state officials had previously approved more than $10 million of incentives for Herbalife in return for the creation of about 500 jobs by the end of 2015. The facility makes a variety of nutritional products, including its flagship Formula 1 nutritional shake mix, herbal aloe concentrate and an herbal tea concentrate. These 300 jobs would be in addition to the original 500.

Herbalife spokesman Julian Cacchioli said in a statement to the Triad Business Journal on Tuesday that Herbalife "remains on schedule to create 500 jobs in Winston-Salem by the end of 2015, as we have consistently stated we would. We are now looking at our next stage of investment and job creation, and the Triad region is obviously one of a number of options we are considering.” Cacchioli did not disclose any other potential location options that Herbalife is considering but said the company is "looking at several other U.S sites and a few cities outside of the U.S." "We hope to make a final decision in the near future,"

The Winston-Salem City Council will consider $150,000 worth of incentives, and Forsyth County also will consider $150,000 for the additional jobs. It's being reported that about 30 percent of the jobs would be transferred from California. The remaining 70 percent would be hired locally in areas such as administration, technology and support operations. The average wage for the new positions would be $61,000, plus benefits. Herbalife would also invest over two years $2.34 million in building improvements and $1.17 million in machinery and equipment.

[RALNATIVE]

I read somewhere recently that W-S will  have a higher growth rate than Greensboro and is poised to be slightly larger by 2030. Has anyone else seen this projection?

[zalo]

Here's an advertorial from this month's issue of Business North Carolina magazine. Really nothing new to the report. It does provide a good primer on what's occurring locally.

http://www.businessnc.com/clientuploads/Archive_Images/2015/April/April%2015%20Triad.pdf

[zalo]

The economic development future looks "very bright" for Winston-Salem, according to Southern Business & Development magazine. The magazine has named the city among the top 10 powerful major economies in the South that don't get enough national attention, a list that also includes Richmond, Va., and Knoxville, Tenn. (Question, does the Greensboro N&R count as a national media source? Just wonderin'  )
Manufacturing remains a strong industry in Winston-Salem, with heavy equipment maker Caterpillar Inc. continuing to ramp up its workforce there, with the hope of creating nearly 400 full-time jobs by the end of 2015 and nutritional products company Herbalife Ltd. recently unveiling its more than $100 million facility and trumpeting plans to have more than 500 workers in place there by year's end. Winston-Salem, which primarily has been known as a manufacturing hub, has seen more diversity in recent years, including logistics and distribution, life sciences and green industries and others.

With Wake Forest University and the regional office for the North Carolina Biotechnology Center, the area has been booming with biotech and life sciences, the magazine says. But perhaps the tide of national attention is turning for the city, as just this week the Wake Forest Innovation Quarter, a 240-acre research park campus, was featured in the New York Times. The city's economic development momentum also has been evident with plans for the nearly 1.8 million square feet and 120 acres of the Whitaker Park campus donated by R.J. Reynolds Tobacco for economic development. WPDA Inc., the nonprofit to which Reynolds donated the property, has plans of setting aside a portion of the net income derived from the property to go into a fund that could be used for economic development throughout Forsyth County. That money could, among other things, help cover some of the budget for Winston-Salem Business Inc., the city's private recruitment entity, or be used in the future to help lure in companies to the county.

Also on Southern Business & Development's top 10 list: Baton Rouge, La.; Birmingham/Hoover, Ala.; Greenville/Anderson/Maudlin, S.C.; Hampton Roads, Va.; Knoxville, Tenn.; Little Rock/North Little Rock/Conway, Ark.; Louisville, Ky.; Richmond, Va.; Tulsa, Okla.

Per: TBJ

Edited April 30, 2015 by zalo

[RALNATIVE]

Kudos to Winston! Here's the article that is being referred to: http://www.bizjournals.com/triad/news/2015/04/30/triad-city-named-powerful-major-economy-in-south.html?page=2

[zalo]

Reynolds-Lorillard deal gets FTC clearance

 

Reynolds American Inc. and Lorillard Inc. have agreed to divest four cigarette brands in order to secure approval from the Federal Trade Commission for their proposed $27.4 billion merger. The proposed order requires Reynolds (NYSE: RAI) to divest to Imperial Tobacco Group the Winston, Kool, Salem and Maverick brands. Winston, Kool and Salem are Reynolds brands, while Maverick is a Lorillard (NYSE: LO) brand.  Without the divestiture, the merger "would likely be anticompetitive," according to a press release from the FTC.  It was a split decision with two members voting no.

http://www.bizjournals.com/triad/news/2015/05/26/reynolds-lorillard-deal-gets-ftc-clearance.html

Edited May 27, 2015 by zalo

[zalo]

Reynolds and Altria could eventually be similar in size says Michael Lavery, an analyst who covers Reynolds and Lorillard, based in the New York office of CLSA, a Hong Kong-based brokerage and investment group. He estimates that Reynolds' market share of adult smokers under the age of 30 will be over 45 percent once the deal closes. Lavery estimates Altria, maker of Marlboro, to have as much as 47.5 percent.

 

http://www.bizjournals.com/triad/news/2015/05/29/reynolds-and-altria-could-become-similar-in-size.html

[zalo]

Winston-Salem-based Reynolds American Inc. said Monday it plans to complete its acquisition of Greensboro rival Lorillard Inc. on Friday as part of a $27.4 billion merger that is expected to significantly transform the tobacco industry. Reynolds (NYSE: RAI) said the deal cleared a major hurdle when the federal district court approved the sale of certain cigarette brands and businesses to ITG Brands, the U.S. division of Imperial Tobacco that will be based in Greensboro.

Reynolds said approval from the federal district court was the "final significant condition pending before RAI can proceed with its acquisition of Lorillard." The deal already received clearance from the Federal Trade Commission.

http://www.bizjournals.com/triad/news/2015/06/08/reynolds-american-set-to-complete-lorillard-merger.html

Edited June 9, 2015 by zalo

[zalo]

Kudos to the Triad region for this bit of business news courtesy of the TBJ:

The Triad is home to six of North Carolina's top 10 companies for stock performance between January 2010 and March 2015, according to a new analysis.

http://www.bizjournals.com/triad/news/2015/06/26/analysis-triad-home-to-six-of-the-top-10.html

[KJHburg]

Greensboro and Randolph county really marketing their megasite for a new huge manufacturer.  Here is the link 

http://greensboro-randolphmegasite.com/

[cityboi]

Arch Capital Group is acquiring Greensboro based United Guaranty, a mortgage insurance company currently owned by AIG. Now Arch wants it's corporate headquarters in Greensboro, most likely in the Renaissance Plaza tower in downtown Greensboro where United Guaranty is located. Currently Arch Capital Group is headquartered in Bermuda. After the acquisition, Arch Capital will become the largest mortgage insurance company in the United States. Greensboro is becoming an insurance hub again. The Lincoln Financial insurance division is headquartered a few blocks south

Likely the future home of Arch Capital 

http://www.bizjournals.com/triad/news/2016/12/22/arch-capital-group-relocate-hq-greensboro.html

https://www.archcapgroup.com

Edited December 23, 2016 by cityboi