RALNATIVE

Triangle Business News

89 posts in this topic

Moderators note: Let's use this thread to discuss general business news in the Triangle. I've linked other business related threads here:

RTP & Triangle Biotech topic

What Fortune 500 companies should we lure to the Triangle?

The Triangle and startups

Lenovo builds US HQ in Morrisville

There was an article in the TBJ regarding a possible relocation of the international HQ of a GE spinoff.

GE spinoff looking to relocate to area

The most interesting thing about this is that the project could add 300+ jobs with an average annual salary of $120,000. This could be a tremedous coup if it happens.

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Break out the checkbook, that should be worth at least $100 million in incentives!

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Break out the checkbook, that should be worth at least $100 million in incentives!

If it brings more people around here with some brains, then I say it's worth it.

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Well, it looks like Raleigh is becomming a draw for energy companies now as well, which is great! PetroBeam is relocating from Alabama to Raleigh after receiving a $6 million investment from a Belgian company. They are locating to Falls of Neuse Rd. http://www.newsobserver.com/business/story/902708.html

Moderators note: Moved this to the business topic from the front page.

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^I had written about this in the ATHD section last week. This is a big blow to Durham and will not be the last of news like this coming this year. Serenex has just been bought out by Pfizer and will most likely be shuttered here. Durham has done a lousy job of creating an environment where businesses actually want to operate. The word on the street is that North Carolina is a bit overhyped as far as developing high-tech R&D firms and that most operations here will shift to more production-focused entities. The brains behind the ops want to either head west or head north.

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Red Hat is being added to the Standard & Poor's 500 Index. This is really a big deal.

Now if we can only get more S&P 500 companies to relocate to the area...

Red Hat Joins S&P 500

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Very good news for the Triangle.

German conglomerate Deutsche Bank plans to build a new technology development center, and adding 319 well paying jobs.

IT Jobs in Cary

Edited by RALNATIVE

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Very good news for the Triangle.

German conglomerate Deutsche Bank plans to build a new technology development center, and adding 319 well paying jobs.

IT Jobs in Cary

Now its up to Cary. Not sure how they will react to being asked to make an exception of the property tax sort (I assume) given that they seem to bristle at such notions. The article says its not sure what will happen if Cary won't implement its end of the deal..as if the author too senses a problem....I bet Morrisville would bend over backwards to bring in these jobs...

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^^^Afterall, this is Deutsche Bank that we're talking about here. Many cities would bend over backwards to get such a chance.

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Cary has approved the $75,000 Deutsche Bank requested. They are also getting $9.4 Million from the state. From what I understand from an article from the N&O, this will be a completely new subsidiary of Deutsche Bank that will create software for the bank's use. The company plans to move into temporary space in Cary in a matter of weeks and start hiring. They plan to have a permanent location by the end of the year. The average job will pay around $88,000.

http://www.newsobserver.com/business/story/1646713.html

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Sounds good though I kinda wished they had picked Durham or Raleigh over Cary. When I think of cities in this area that could really use 300 jobs in this economy, (especially at such an incredibly high average pay), Cary is not one I think of.

Edited by RaleighRob

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In entertainment news Pat Dickenson and Mark Thompson, owners of Raleigh's Lincoln theatre, have joined with executives of ETIX to purchase the former Toad's Place Richmond which closed last March. The 1500-capacity facility opens September 11th with The BoDeans. Here is the website:

http://www.hatfactoryva.com

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According to the N&O, Capital Bank has indicated in recent regulatory filings that they intend to expand into South Carolina, Virginia, Eastern Tennessee and the rest of North Carolina. Regulators consider Capital Bank well-capitalized and apparently they are going to raise cash through the sale of stock, which shareholders are going to vote on soon:

http://www.newsobserver.com/business/story/224595.html

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According to the N&O, Capital Bank has indicated in recent regulatory filings that they intend to expand into South Carolina, Virginia, Eastern Tennessee and the rest of North Carolina. Regulators consider Capital Bank well-capitalized and apparently they are going to raise cash through the sale of stock, which shareholders are going to vote on soon:

http://www.newsobser...ory/224595.html

Good news for Capital Bank and for Raleigh. I can see them growing into a much larger bank in a few years.

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I have been out of town for a while....reading between the lines.....does this mean that the HQ is staying in raleigh now? At one time there was talk of it moving elsewhere (along with RBC and Progress)

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The new owners of Capital Bank,(live in Charlotte), will keep the current people in downtown Raleigh. But I think they probably won't add it the downtown Raleigh base,(excuse me-Headquarters). Unless something big happens with this company, I don't see it becoming a major player for our downtown. I look at it as more of a regional location for a bank with no distinct corporate appeal or desire. Just a place to do...am I sounding sad yet?

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Forbes recently ranked Raleigh as the 5th "new" tech hotspot in the country, ahead of rival cities like Seattle and Houston, which is surprising...

 

http://www.forbes.com/sites/joelkotkin/2013/01/10/the-new-places-where-americas-tech-future-is-taking-shape/?utm_campaign=forbestwittersf&utm_source=twitter&utm_medium=social

Edited by RALNATIVE

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Same old, same old.  All these rankings mean absolutely nothing to me.  What does this ranking get us?  Where are the shovels in the ground that would illustrate the data & figures?  Where is the development?

 

If you ask me, I'd prefer Amazon's investment and development in Seattle over Raleigh's pattern of sending tech jobs to Research Triangle Parking Lot. 

 

Just once, I'd like to see a major relocation announcement and then read the press release about good business environment here and high quality of life.

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