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Economic Development

Wolfspeed secures CHIPS Act credits

Durham-based chipmaker Wolfspeed says it’s received $698.6 million in federal tax refunds authorized by the CHIPS Act. The advanced manufacturing investment tax credit follows $186.5 million in refunds that came the company’s way in its 2024-25 fiscal year. Wolfspeed officials say the latest refund bolstered the company’s cash balance, leaving...

By Ray Gronberg

December 3, 2025

DMV wants study of teen-driver licensing process

Part of the new plan for improving customer service at the Division of Motor Vehicles calls for at least a partial reconsideration of the licensing system for teen drivers the state instituted in the late 1990s. DMV’s strategic plan calls for a study of “elements of the Graduated License Process...

By Ray Gronberg

December 2, 2025

After Helene, WNC counties drop in state tier ranking

Mountain counties took a beating from Hurricane Helene, and because of Helene they also took a beating in the latest tier listing from the state Commerce Department. The update saw two of the west’s most populous counties, Buncombe and Henderson, drop from the ranks of the state’s top 20 best...

By Ray Gronberg

December 2, 2025

Marshall gives up incentives for PTI facility

One of the flagship projects in the developing aerospace-industry hub at Piedmont Triad International Airport is running into some serious headwinds. Marshall of Cambridge’s U.S. subsidiary on Oct. 31 notified the N.C. Commerce Department that it’s giving up its rights to a $2.4 million Job Development Investment Grant because it won’t...

By Ray Gronberg

December 1, 2025

Appeals Court directs arbitration to Tennessee

A conflict between federal and North Carolina arbitration laws continues to vex the state Court of Appeals, which recently sided with a Tennessee contractor’s push to have its dispute with a Raleigh plumber addressed in its home state. Thomas Builders hired Earnhardt Plumbing as a subcontractor for a Fayetteville-area hotel...

By Ray Gronberg

December 1, 2025

Tillis talks tariffs, NATO obligations in Canada

North Carolina U.S. Sen. Thom Tillis made waves north of the border over the weekend, criticizing Canada’s low defense spending on one hand and the Trump administration’s handling of tariffs against the country on the other. During a panel discussion with two border-state senators, Tillis said he has “a serious...

By Ray Gronberg

December 1, 2025

Bond raters agree that Charlotte’s still a powerhouse

Charlotte’s time in the national spotlight might be making the city a political lightning rod, but the country’s three major bond-rating agencies all agree it’s a well-managed economic powerhouse. Fitch, Standard & Poor’s and Moody’s all recently reaffirmed the city’s AAA bond rating ahead of its move to refinance some...

By Ray Gronberg

November 24, 2025

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