Business
SBA Office of Advocacy Releases North Carolina Small Business Profile
North Carolina is home to more than 800,000 small businesses Feb. 5. The Office of Advocacy within the Small Business Administration reports there are 833,107 small businesses in North Carolina, employing 1.6 million people. The three industries with the most small business employment include: health care and social assistance; accommodation and food services; and manufacturing […]
Private real estate investment firm announces $20 million acquisition
Feb. 5. NorthState Capital Partners led an investment group in the acquisition of a three-property student housing apartment portfolio totaling 336 beds. The properties serve students of Appalachian State University and include Highland Crossing, a 204-bed apartment community, Greenway Commons consisting of 84 beds, and Greenway Cove with 48 beds. The combined apartment units are […]
Alevo appoints Duke Energy exec to lead sales, field ops
Jan. 29. Alevo Group has appointed Jeff Gates as director of sales and field operations. Gates, an acknowledged leader in the energy industry, will head Alevo’s energy storage deployment and operations out of the company’s Concord manufacturing headquarters. In this position, Gates will be responsible for GridBank customer sales and helping strengthen Alevo’s position as […]
John Woods retiring from Peoples Bank
Jan. 23 John Woods, a well-known local banker before he became mayor of Davidson, is retiring from Peoples Bank, which has an office on Bailey Road near Highway 21. The Davidson native has been mayor since 2007, having first been elected to the town board in 1997. Woods’ office was in Cornelius.
Newton-based Carolina Trust reports 2014 net income of $7.14 million
Jan. 22 Carolina Trust Bank reported net income available to common shareholders of $5.12 million for the fourth quarter 2014 or $1.10 per diluted common share. For the year 2014, the company reported net income available to common shareholders of $6.91 million, or $1.48 per diluted common share. Net income reflects recognition of a tax […]
Aquesta fourth-quarter, full-year earnings rise
Jan. 23. Aquesta is reporting fourth-quarter unaudited net income rose 3.6 percent to $374,000 (15 cents per share) vs, net income of $361,000 (14 cents per share) for the fourth quarter of 2013. Unaudited net income for 2014 was $1.71 million (67 cents per share) vs. $1.47 million in 2013. The Cornelius-based financial company increased […]
Speedway recognized for STEM program
Jan. 22. Charlotte Motor Speedway was recognized by the North Carolina Motorsports Association for contributions to the community through its Science, Technology, Engineering and Math-based educational field trip program. Marcus Smith, president and general manager of Charlotte Motor Speedway, accepted the award, presented by NASCAR icon Ray Evernham. “Through the STEM program, Charlotte Motor Speedway […]
CMUD has a new name—Charlotte Water
Jan. 12 The Charlotte-Mecklenburg Utility Department—better known as CMUD—is deep-sixing its old name. The new name is Charlotte Water, which “better reflects the identity established as the water and wastewater service provider to the Charlotte region,” the publicly-owned utility said in a press release today. The CMUD name dates back to a 1972 agreement between the […]
Tillis keynote speaker at LKN Chamber banquet
The keynote speaker at the Lake Norman Chamber’s annual awards dinner Jan. 16 is U.S. Sen. Thom Tillis. The theme of the event is “Connecting, Empowering & Expanding Our Possibilities.” The chamber also has five new board members: Tim Gause, region director, Duke Energy; Mike Murphy, of ProctorFree; Sharon Simpson, Lake Norman Currents; Laura Temple, […]
New head of United Way has 100-day plan
Jan. 9 Sean Garrett is the new executive director of United Way of Central Carolinas. He will begin March 1, after United Way’s fundraising campaign is completed. United Way is a clearinghouse and umbrella for a wide range of social service organizations ranging from the Ada Jenkins Center to Big Brothers Big Sisters. Garret replaces […]
