Business

Local News
12:30 am
Tue December 16, 2014

Off-Shoring Company Cognizant Gets Tax Breaks To Expand In NC

In the 2013 fiscal year, the U.S. Department of Labor authorized Cognizant to apply for up to 1,300 H1-B and L-1 guest worker visas in North Carolina, the fourth-most of any company, according to data from the department.
Credit Ben Bradford / WFAE

A major off-shoring company is expanding in North Carolina and receiving state incentives to do so. Last month, the North Carolina Governor’s Office announced Cognizant Technology Solutions, a Fortune 500 company, would create 500 high-paying jobs in North Carolina, including opening a new office in Charlotte.

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Local News
6:41 pm
Fri December 12, 2014

Power Companies Reach Rooftop Solar Agreement In SC

Credit Elliot Brown / Flickr

Electric utilities and solar energy developers across the U.S. have clashed over how much the utilities should have to pay for the energy supplied to them by homeowners with solar panels. In South Carolina, the sides reached an agreement Friday and both are claiming a win.


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Local News
2:29 pm
Fri November 21, 2014

NC Jobs Recovery Reaches Milestone

North Carolina has recovered the jobs it lost during the deep economic downturn,  according to the state Commerce Department's latest unemployment report. Here's some context:

The recession got started a little late in North Carolina – job growth continued until February 2008. That's the month when employment peaked. Then North Carolina crashed through 24 straight months – two years – of job losses.

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Local News
4:18 pm
Fri November 14, 2014

Charlotte Asks FAA For Final Answer On Airport Control

The City of Charlotte has asked the Federal Aviation Administration to decide who will run Charlotte Douglas International Airport. The letter comes weeks after a judge ruled in the city’s favor that a state-created commission does not have authority to take control of the airport, unless the FAA approves it.

Charlotte’s city council has run the airport for 78 years.

City attorney Bob Hagemann says the city wants a final answer.

“There has been a cloud over the airport going on two years. We think it’s time to work hard to remove that cloud,” says Hagemann.

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Local News
5:02 pm
Tue October 28, 2014

Energy Company Has Big Plans For Former Philip Morris Site in Concord

Alevo introduces its GridBank power storage system, October 28, 2014, in Concord, N.C.
Credit Duncan McFadyen

A new company says it will turn the former Philip Morris plant in Concord into a high tech manufacturing facility. Executives from Alevo made the announcement Tuesday. They will use the space to build large-scale battery arrays that, they say, will “redefine energy.”

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Local News
3:52 pm
Mon October 27, 2014

What Chiquita Deal Means For Charlotte

What will the buyout mean for Chiquita's uptown headquarters?
Credit Julie Rose

For months, Chiquita’s board has been spurning an offer to merge with financial company Safra and juice maker Cutrale. Monday, Chiquita announced it will take the buyout by the two Brazilian companies.

So what does this mean for Charlotte? 

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Local News
6:15 pm
Wed October 22, 2014

Duke Will Continue To Pass On Savings From Tax Cut

Credit Duke Energy/Flickr

North Carolina utilities are paying less in taxes to due to the legislature’s tax overhaul last year. The NC Utilities Commission says companies no longer have to pass on those savings to customers but Duke Energy still plans to.

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Local News
4:59 pm
Wed October 15, 2014

Bank of America Breaks Almost Even Despite Big Settlement

Credit Mike Mozart/Flickr

Bank of America broke roughly even in its third quarter earnings, despite paying part of the massive, more than $16 billion settlement with the federal government over mortgage fraud that helped spur the financial crisis.


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Local News
9:40 am
Mon September 29, 2014

Charlotte Company Hopes To Lead Electric Truck Revolution

A prototype of EV Fleet's Condor, which the company demonstrated during a demo day. The truck bed's paint will match the rest of the car in final versions, the company says.
Credit Ben Bradford / WFAE

Electric cars were largely novelties until Tesla introduced its Roadster in 2008. Now, a few small start-ups are trying to repeat Tesla’s success in another sector of the electric vehicle industry. They’re building trucks, hoping to sell them en masse to government and business fleets.


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Local News
7:00 am
Wed September 24, 2014

Duke Joins Proposal For Nation's Largest Wind Farm, Storage

An artist rendering of the energy storage facility.
Credit Magnum Energy

The nation’s largest wind farm in Wyoming would connect to  one of the largest energy storage facilities in Utah to power Los Angeles, in a proposal announced Tuesday by four companies, including Duke Energy. The project’s scale is more akin to a nuclear plant.


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