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Economic Development

Japan-N.C. business links yield another recruit

One of Japan’s largest financial companies, Sumitomo Mitsui Banking Corp., or SMBC, plans to establish a second U.S. headquarters in Charlotte by investing $50.5 million and adding 2,000 jobs over the next six years. State and local officials used a $78.8 million incentives package to land the project, which adds...

By Ray Gronberg

April 9, 2026

Stein-appointed group favors legal cannabis market

An advisory group is urging Gov. Josh Stein and the General Assembly to formally legalize cannabis, to the extent of allowing sales to adults through state-licensed retailers. Formalizing a market in that way would give the state “a full regulatory framework and the tools necessary to manage it responsibly,” the...

By Ray Gronberg

April 7, 2026

Lee, other senators oppose Fuquay water request

Three of the state Senate’s top Republicans have come out against Fuquay-Varina’s request for permission to transfer up to 6.2 million gallons of water a day from the Cape Fear River’s basin into the Neuse River’s. If approved, the transfer promises “lasting harm” to downstream communities in the Cape Fear...

By Ray Gronberg

April 7, 2026

Harrison takes herbicide fight to Supreme Court

State Rep. Pricey Harrison, D-Guilford, doesn’t often get her way in the GOP-dominated General Assembly. She’s hoping for better luck with the GOP-dominated U.S. Supreme Court. Harrison recently joined 35 other state legislators from around the country in signing a friend-of-the-court brief that urges the court to rule against Monsanto...

By Ray Gronberg

April 7, 2026

Appeals court rules against animal sanctuary

Winston-Salem officials acted within they authority in 2023 when they told the owners of a nonprofit animal sanctuary in the far-eastern part of the city to shut down, an all-Republican state Court of Appeals panel says. Court of Appeals Judge Chris Dillon and his colleagues rejected the owners’ attempt to...

By Ray Gronberg

April 2, 2026

Panthers deal with Charlotte drawing scrutiny

For the Carolina Panthers, the price of getting $650 million in public money is that they’re going to have state auditors looking over their shoulder as they go about renovating Bank of America Stadium. Both Tepper Sports and city of Charlotte officials have signaled that they’re amenable to the extra...

By Ray Gronberg

April 2, 2026

McDowell touts federal insurance policy change

.S. Rep. Addison McDowell, R-6th, is claiming partial credit for a Federal Housing Finance Agency decision he says will help keep homeowners-insurance costs down. The FHFA recently announced that Fannie Mae and Freddie Mac will allow owners with federally backed mortgages to have only actual-cash-value coverage for roof replacements. That...

By Ray Gronberg

March 30, 2026

Satellite campus still a political minefield for UNC

A campus trustee is warning UNC Chapel Hill officials to keep an eye on political considerations as they pick developers to help them get the planned Carolina North satellite campus off the ground. “It’s easier to get support from some of the institutions that we will need support from in...

By Ray Gronberg

March 26, 2026

Commerce gauges counties’ vitality

State Commerce Department officials have created an “economic vitality” dashboard to help gauge how well North Carolina’s counties are faring relative to others and to the country as a whole. It uses a fairly simple composite set of metrics from 14 years, namely average unemployment rates, private sector weekly wages,...

By Ray Gronberg

March 25, 2026

French company agrees to give up offshore wind leases for $928M

France’s TotalEnergies says it’s signed a settlement agreement with the Trump administration to give up two offshore wind leases, including one off the North Carolina coast. The company says its studies “have shown that offshore wind developments in the United States, unlike those in Europe, are costly and might have...

By Ray Gronberg

March 24, 2026

Bolas named new CEO of NCInnovation

NCInnovation has taken the “acting” qualifier off the title of its CEO and says Michelle Bolas will continue in the role on a permanent basis. A former UNC Chapel Hill administrator, Bolas has headed the state-endowed nonprofit since former CEO Bennet Waters stepped down last November. She joined NCI in...

By Ray Gronberg

March 20, 2026

DOT offers assurances about I-40 rebuild

The rebuilt Interstate 40 in the Pigeon River Gorge will include things that should give it “a significant amount of resilience” against another major washout like the one triggered by Hurricane Helene, DOT’s top engineer says. “Long term, we expect the I-40 infrastructure repairs to be sustainable,” Chief Engineer Patrick...

By Ray Gronberg

March 20, 2026

Calls grow to rework McCrory-era road-planning system

There are now bipartisan calls for the state to rework the system it established under former Gov. Pat McCrory for deciding what transportation projects it should undertake. Multiple members of a new select committee House Speaker Destin Hall has assigned to look at “North Carolina’s transportation future,” said Thursday, the...

By Ray Gronberg

March 20, 2026

NYT: Trump pursing buyouts of offshore wind leases

The New York Times reports that the Trump administration is considering paying $133 million to buy out a French company’s lease of a potential offshore wind-energy site near the North Carolina coast. The potential offer would target the Carolina Long Bay project, which would go up about 22 miles south...

By Ray Gronberg

March 19, 2026

VinFast intends to restart Chatham factory this year

Vietnamese electric-vehicle maker VinFast says it intends to resume construction of its planned North Carolina factory in Chatham County as early as next month, with an eye toward launching production there in 2028. But the company has revised its ambitions, telling local officials that it expects employment in the 1,400-job...

By Ray Gronberg

March 17, 2026