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RALNATIVE

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RALNATIVE Burg

RALNATIVE

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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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Jones_
Jones_

Cutting taxes, gutting environmental regs, reducing public school and university funding and enshrining religious beliefs in the State constitution sure seems to have improved the business environment

KJHburg
KJHburg

Credit Suisse may indeed expand to RTP. Why wouldnt they? Cheaper real estate, more likely to attract new employees and as all people won't relocate lower paid employees at some levels can be found. h

KJHburg
KJHburg

According to the Business Journal Red Hat will operate kinda separately and still be based in Raleigh.  https://www.bizjournals.com/triangle/news/2018/10/28/ibm-to-buy-red-hat-pledges-to-keep-ral

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Gard Burg

Gard

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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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DanRNC Burg

DanRNC

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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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Jones_ City

Jones_

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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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Gard Burg

Gard

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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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RaleighRob Burg

RaleighRob

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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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Gard Burg

Gard

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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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RALNATIVE Burg

RALNATIVE

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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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DwnTwnRaleighGuy Hamlet

DwnTwnRaleighGuy

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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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RALNATIVE Burg

RALNATIVE

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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

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Green_man Hamlet

Green_man

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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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