All in Business
North Carolina state government is headed into the 2021-22 fiscal year with nearly $5 billion in unanticipated revenue and unencumbered savings. Even after making critical deposits into the state’s rainy-day fund, reserve for repairing and renovating state buildings, and other accounts, there’ll be enough money left on the table to start a fight.
Pipeline Plastics Holdings, LLC, a leading manufacturer of high-performance industrial pipeline systems, will create 44 new jobs in Columbus County, Governor Roy Cooper announced today. The company will invest $4.6 million in a new production facility in Fair Bluff.
A bipartisan group of senators is crafting legislation that would find ways to expand broadband access in North Carolina.
American Racing Headers & Exhaust, Inc., a leading designer, manufacturer, and distributor of stainless-steel headers and exhaust system components, will locate a new manufacturing facility in Stanly County, Governor Roy Cooper announced today. The company will invest $4.37 million and add 63 new jobs as it relocates its operations to the Charlotte region.
Today, Governor Roy Cooper signed three Executive Orders. Executive Order 206 extends North Carolina’s statewide residential eviction moratorium through June 30, 2021 in coordination with the Centers for Disease Control and Prevention (CDC)'s recent extension of the nationwide moratorium through the same date.
Robinhood Markets, Inc., a California-based financial services firm, will create nearly 400 jobs in Mecklenburg County, Governor Roy Cooper announced today. The company will invest $11.7 million to establish an office in Charlotte focused on customer experience roles.
A Greenville bar owner’s lawsuit challenging the state Emergency Management Act is heading to a three-judge panel. The panel will decide whether the act is unconstitutional because of the power it grants to Gov. Roy Cooper.
FUJIFILM Diosynth Biotechnologies U.S.A. Inc., a world leading contract development and manufacturing organization (CDMO), will create 725 jobs and expressed its intent to invest $2 billion in Wake County, Governor Roy Cooper announced today. The company will build North America’s largest end-to-end biopharmaceutical manufacturing facility in Holly Springs, confirming the central role of North Carolina’s Research Triangle region for the next generation of biotech medicines.
North Carolina Main Street Champions will be recognized for their commitment to downtown revitalization and strong communities during a virtual recognition ceremony today.
The NFIB Small Business Optimism Index rose to 95.8 in February, a slight bump from January but still below the 47-year average reading of 98. The NFIB Uncertainty Index decreased five points to 75.
North Carolina’s Debt Affordability Advisory Committee says the state should set aside $100 million a year to help the state pension systems remain solvent.
Legislation introduced by Republican lawmakers would mandate recipients of unemployment benefits actively search for work, a requirement that hasn’t been in place since the pandemic began in March.
A Superior Court judge asked repeatedly Thursday, Feb. 18, for evidence that would justify state government orders that keep private bars closed across North Carolina.
North Carolina’s heavy-fisted response to the coronavirus pandemic has resulted in a delayed economic recovery, reports from state and national economists show.
North Carolina, which saw a tightening of the presidential race in the 2020 election, was among the states that saw an influx of money from Mark Zuckerberg in the months leading up to the voting. Capital Research Center noted that Zuckerberg and his wife, Priscilla Chan, donated $350 million to the Center for Technology and Civic Life, which in turn gave the money to local election officials. CRC argues that the formerly small group “became an activist juggernaut with the means to effectively manage the election in numerous cities and battleground states across the nation.”
CRC said $4.3 million of these “Zuck bucks” went to 34 North Carolina cities and counties, in addition to a $1 million grant to the state board of elections. CRC said Biden gained about 80,000 votes in the counties that received the grants.
While an annual report from a financial watchdog shows most U.S. cities are poorly prepared to face the fiscal fallout from the COVID-19 pandemic, the three North Carolina cities examined showed stronger numbers.
A recent examination by the Tax Foundation shows North Carolina’s high net migration rate may be due to its friendly tax climate. The nonprofit, nonpartisan group annually examines migration trends, using data from United Van Lines, the largest moving company in the country. That company’s National Movers Study found that in 2020, Idaho saw the highest percentage of net migration at 70%, followed by South Carolina (64%), Oregon (63%), South Dakota, and Arizona (both 62%). North Carolina ranked sixth at 60%.
The states with the highest exodus? New Jersey, New York, Illinois, Connecticut, and California.
The N.C. Bar Owners Association, in a news release, says the N.C. ABC has canceled some 120 permits for private bars, without notice.
As the Mega Millions jackpot, and the excitement around it, continues to grow, the amount of money raised for education grows too.
Most North Carolina small businesses remain open but have seen revenues decline in the face of the COVID-19 pandemic, according to results from a new survey of North Carolina small businesses released today by the Department of Commerce.
