Business
Opioid crisis hits where we work
With more than 42,000 Americans dead from opioid-related overdoses in 2016—40 percent of the deaths involved prescription painkillers—prescient employers are taking steps to prevent opioid misuse and addiction. The opioid crisis cost the economy $95 billion in 2016, with $21.4 billion spent on treating patients who suffer from opioid abuse, a new analysis from Altarum found. […]
Construction keeps building on the economy
By Erica Batten. The construction industry is projected to grow 4.5 percent over the next few years, reaching $1.2 trillion in real output by 2020. Much of the growth is directly related to government activity. Reconstruction of roads, bridges and other infrastructure, along with the government’s plan to make renewable energy 20 percent of the […]
Ingersoll Rand lands environmental and energy awards
Nov. 20. Ingersoll Rand has won the U.S. Chamber of Commerce Foundation’s Corporate Citizenship Award for Best Environmental Stewardship. The Davidson-based maker of commercial heating and air-conditioning systems was recognized for addressing greenhouse gas emissions in its own operations and products, and continued research for a sustainable future. The company achieved its commitment to reduce its own […]
NASCAR Hall of Famer Ray Evernham acquires JRi Shocks
Nov. 15. Motorsports icon and NASCAR Hall of Famer Ray Evernham has acquired Mooresville-based JRi Shocks for an undisclosed amount. Evernham will be involved in all areas of the business, including marketing and sales strategy, new product design and operations. JRI founder, Jeff Ryan, will continue to play a key role in the organization as both […]
New retail on W. Catawba is one of several on drawing board
Nov. 14. By Dave Vieser. A few days before the Cornelius Town Board is scheduled to vote on rezoning 11 acres between Catawba Avenue and Knox Road for a major retail center, a different developer is proposing another new project just to the east. The new project, referred to as the “20151 West Catawba Avenue […]
Uwharrie Capital declares stock dividend; strong 3Q results
Uwharrie Capital Corp, parent of Uwharrie Bank, has declared 2 percent stock dividend to be paid Dec. 14 to shareholders of record Nov. 28. Consolidated total assets rose 10.6 percent from $576 million as of Sept. 30 last year to $637 million as of the end of the third quarter this year. Net income for the […]
Millennials: Are we recruiting this generation?
By Dave Yochum. Baby Boomers were the cat’s pajamas back in the 70s and 80s, but that generational cohort has been supplanted by Millennials. Everyone wants them, even though not everyone can communicate with them. Charlotte is No. 12 on a list of 50 cities that are attracting millennials and helping them prosper—and take over […]
Aquesta net slips during third quarter; new operations center in Mooresville
Aquesta Financial Holdings, the parent company of Aquesta Bank, reports third-quarter net income fell from $757,000 (19 cents per share) last year to $702,000 (17 cents per share) for the three months ended Sept. 30. Jim Engel, CEO, said loan and deposit growth were good, despite the fact that earnings were muted due to larger […]
Visit LKN lands top industry awards
Nov. 5. Visit Lake Norman, the convention and visitors bureau based in Cornelius, was honored with four awards for achievement in destination marketing at the recent North Carolina Tourism Leadership Conference. VLN received a Gold Award for best Community Relations for the Ambassador and Internship Program that recruits ambassadors and interns to work in the […]
Spec development continues as local demand stays strong
By Erica Batten. With decreasing vacancy rates, rising rental rates and a net industrial absorption rate well above historical averages, the Golden Crescent—Lake Norman to Kannapolis and the Speedway area—is a promising locus of investment for speculative development. According to the 2018 third-quarter report from Colliers International Group, a global real estate services and investment […]
