Business
Wells Fargo predicts strong 3Q rebound
June 15. The US Dept. of Labor’s most recent Unemployment Insurance (UI) claims data shows advance claims of more than 1.5 million during the week ended June 6. The numbers show initial claims have begun to decline, but they remain elevated above historic levels. The four-week moving average: Just over 2 million. Jobless claims declined […]
Prime Beverage investing $68 million in new plant in Cabarrus
June 9. Prime Beverage Group, a new contract beverage manufacturer, will spend $68 million on a new manufacturing facility in Kannapolis, creating 231 new jobs. Prime contracts with brand name beverage companies to mix and package their canned drinks. Formed by beverage industry leaders, Prime Beverage will establish a full-service state-of-the-art production facility in Kannapolis. […]
NC still sorting out how to manage through COVID-19
June 8. By Dave Yochum. As businesses assess their ability to operate with social distancing, one of the biggest challenges will be figuring out how people will spend their money. More people have become comfortable with online shopping; the trend could create shortfalls in local sales and even hospitality taxes. “Rethinking how services that rely […]
Ames Copper plans expansion in Shelby
June 4. Ames Copper Group, a joint venture of Prime Materials Recovery and the Cunext Group, will invest at least $26.3 million to expand its copper manufacturing facility in Shelby. It means 46 new jobs for Cleveland County. Ames Copper will ultimately invest more than $50 million in infrastructure, equipment and working capital over the […]
Food Lion acquiring 62 BI-LO and Harveys stores
June 3. Food Lion will purchase 62 BI-LO/Harveys Supermarket stores in North Carolina, South Carolina and Georgia from Southeastern Grocers for an undisclosed amount. Food Lion officials in Salisbury said the new stores will “deepen the company’s ability to serve more customers with fresh and affordable products.” Food Lion, which has more than 630 stores […]
Survey: More than 75% think job numbers won’t return to normal until end of ’21
June 2. Forty percent of Americans won’t feel comfortable getting on an airplane until there is a vaccine, according to a new WalletHub study. More than a quarter won’t feel comfortable staying in a hotel and 21 percent won’t feel comfortable dining out. The findings suggest consumer perception of their safety will be a big […]
Don’t let a pandemic affect customer service
June 1. By Cheryl Kane. For many businesses, these are unique times to sell in. Trying to conduct business as usual may be challenging to accomplish when your selling environment has dramatically changed. As you put effort into critical new protocols for social distancing, lower capacity limits on people in a space, face masks recommended […]
Tuesday Morning’s LKN, CLT stores remain open for now
May 29. Tuesday Morning is the latest retailer to file for bankruptcy related to the coronavirus pandemic and announce store closings. Stores in Huntersville, Mooresville and Charlotte are not among the first 132 to close. The only NC store slated to close in this round is in Raleigh. After filing Wednesday, the off-price retailer released […]
Virtual job fair for a COVID-19 world helps employers, jobseekers
May 27. The economic development operations in Iredell County and Lake Norman will hold a joint virtual job fair June 4-5. The collaboration of Iredell Economic Development Corp. and Lake Norman Economic Development includes Centralina Workforce Development Board and NCWorks with the goal of matching employers and job seekers. Employers can sign up by clicking […]
JRi Shocks moving to new space in Mooresville
May 27. JRi Shocks is expanding and moving to to 116 Infield Court in Mooresville in June. JRi Shocks manufactures high-performance shock absorbers for various racing and street applications. The company was founded in 2007 by Jeff Ryan, a 40-year innovator in the world of automotive shocks. NASCAR Hall of Famer Ray Evernham bought JRi […]
