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Economic Development

Duke seeks average 13% rate hike for residential users

Duke Energy is asking state regulators to approve an increase of more than 13% in its rates in 2027 for residential customers, with business customers likely to see smaller increases. The requests continue a trend of sharply higher electricity costs over the past decade. Residential rates in the U.S. climbed...

By Ray Gronberg

November 23, 2025

NCORR head sees last housing-construction projects beginning this year

Officials intend to have all the remaining home rebuilds left from Hurricanes Matthew and Florence under construction by the end of the year, N.C. Office of Recovery and Resiliency boss Pryor Gibson told legislators on Thursday. As far as completing them, “it is our hope, it is our intention, to...

By Ray Gronberg

November 23, 2025

Another round for Jockey’s Ridge

The Coastal Resources Commission is trying, once again, to come up with a protection rule for Jockey’s Ridge that another regulatory body will accept. Members on Thursday approved a re-draft of the rule that deletes a preamble that identifies the Nags Head landmark as “the tallest active sand dune (medano)...

By Ray Gronberg

November 23, 2025

Finance-services firm Aspida adding 1,000 jobs in Durham

Novartis wasn’t Wednesday’s only Durham-related recruiting win, as financial-services firm Aspida said it plans to add 1,000 jobs here in the coming years. To land the $28.8 million project, the state and Durham County are serving up a $26.4 million incentives package. The state’s end includes a $21.8 million Job...

By Ray Gronberg

November 20, 2025

Novartis expanding Triangle operations

Swiss drugmaker Novartis AG is poised to expand an existing factory in Durham and build new ones in Durham and Morrisville, in a move state officials expect will create at least 380 new jobs by 2030. They are also expecting Novartis to invest $771 million in the project, in return...

By Ray Gronberg

November 20, 2025

Construction contractors fear worker shortage after ICE raids

Hundreds of workers at commercial construction sites aren’t showing up for work this week in Charlotte and Raleigh because of concern over federal immigration enforcement efforts. “Commercial construction contractors are very concerned in the wake of ICE agents coming to Charlotte and Raleigh,” says David Simpson, CEO of the Carolinas...

By Ray Gronberg

November 20, 2025

Maersk moving U.S. HQ to Charlotte

Charlotte’s landed its second corporate headquarters project in as many weeks with Tuesday’s announcement that international shipping giant Maersk will put one of its subsidiaries in the city. Maersk Agency USA is moving its HQ from New Jersey to Charlotte, expanding here on an operation that already employs about 670...

By Ray Gronberg

November 19, 2025

Magnet maker to build factory in Benson

RTP-based Vulcan Elements says it’s going to build a $1 billion magnet factory in Benson, a project that has it promising state officials will create 1,000 new jobs. To secure the project, state and local governments put together a $120.1 million incentives package. The largest components of that are $52.1...

By Ray Gronberg

November 19, 2025

Chamber water report calls for regional planning

North Carolina’s water-resources planning has considerable strengths, but to keep it a plus factor in the state’s business-recruiting wars, officials need to bolster it, a new report from the NC Chamber contends. Among other things, planners need better data and to make it more widely available. That’s a problem because...

By Ray Gronberg

November 19, 2025

The Rise Cos. exiting hemp business

A prominent N.C. hemp business is on the block, in part because of new federal legislation that drastically tightens the amount of THC hemp-derived products can contain. The Rise Cos. CEO Harry Smith said the investment firm will sell or close its hemp business, Asterra Labs, by the end of...

By Ray Gronberg

November 18, 2025

NCSU seeks OK for semiconductor degree

UNC’s Board of Governors meets this week to address a docket that includes an NC State proposal to launch a new master’s degree in wide-bandgap semiconductors. Campus officials at State say they expect the program to ramp up over time, with a target of serving 26 students in its fifth...

By Ray Gronberg

November 17, 2025

Scout HQ decision sparking criticism in S.C.

One state’s business-recruiting win is another’s nascent political issue, judging from reaction of a South Carolina gubernatorial candidate. U.S. Rep. Ralph Norman, R-5th, took to Twitter recently to complain about “crony capitalism” after Scout Motors announced that it would place its corporate headquarters in Charlotte. The Volkswagen EV startup is...

By Ray Gronberg

November 17, 2025

New Congress, new Lumbee bill

The late-hours attempt to push federal recognition of the Lumbee through the 118th Congress in December having come up short, it’s try, try again for North Carolina’s delegation in the 119th Congress. U.S. Sens. Thom Tillis and Ted Budd and eight House members from North Carolina are again introducing the...

By Ray Gronberg

January 17, 2025

Charlotte, upstream communities at odds over the Catawba

There’s a water-rights battle shaping up in the Catawba River basin that may generate a push for legislative intervention during this year’s long session of the General Assembly. Charlotte’s water system is preparing to ask the state Environmental Management Commission to nearly double the maximum amount of water it can...

By Ray Gronberg

January 17, 2025

Wanted: the definition of “surrounding”

North Carolina’s Supreme Court handed down a decision in a charter-school case last week that could have implications for how the majority handles other land-use disputes. Ruling for a company called Schooldev East, the court’s 5-2 Republican majority found that officials in Wake Forest overstepped back in 2020 when it...

By Ray Gronberg

December 18, 2024