Business

Local News
5:06 pm
Wed October 2, 2013

Utilities Help Ready Sites For Industry

The speculative building in Rock Hill being bought by German automotive adhesive tape manufacturer Coroplast.
Credit Rock Hill Economic Development

The German automotive adhesive manufacturer Coroplast announced Tuesday that Rock Hill will be the site of its first U. S. plant. Over the next five years, the company plans to invest $12 million and create 150 jobs in York County, S. C. Economic development leaders say it takes a lot of work to recruit companies like Coroplast. And sometimes, utility companies step up to help. 


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Local News
4:19 pm
Wed October 2, 2013

Low-Wage Jobs Lead Charlotte, Hickory Recovery

The unemployment rate in the Charlotte and Hickory metro areas declined about one percent in August. That's according to state Commerce Department data released Wednesday.

In Charlotte, the rate is down to 8.3 percent, while in Hickory, the rate fell to 9.1 percent. But the job growth over the past year has been concentrated in one of the lowest-paying industries. Allan Freyer is an analyst for the N.C. Budget and Tax Center, a research organization.

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Local News
5:00 pm
Thu August 29, 2013

Paying For Film, Part 3: How NC Compares

Thirty productions claimed tax credits last year for filming in North Carolina, including some blockbusters like Iron Man 3 and the Hunger Games. Charlotte has become home to a couple of successful TV shows: Homeland and Banshee. By all accounts, the Hollywood business is booming here. But there's a dark cloud on the horizon – come the end of next year, North Carolina's film incentives program is set to expire. 

That prompted WFAE to take a close look at what filming brings to the state, and what it costs us to get those films here. Our two part series wrapped up Thursday morning and WFAE reporter Julie Rose joined host Mark Rumsey to answer a few questions.


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Local News
9:19 am
Thu August 29, 2013

Paying For Film, Part 2: What We're Spending

All three seasons of Showtime's TV series Homeland have filmed in Charlotte.

One billion dollars.  That's what production companies have spent filming in the state since 2007.   

Now here's another number: $100 million.  That's about how much the state has paid those companies in incentives in that time. 

Good deal, right? Spend $100 million to get one billion?  But there's more to the story.


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Local News
2:52 pm
Mon August 26, 2013

In Carolinas, Heavy Rains Wash Out Farmers' Crops

Tomatoes stick in the mud at Barbee Farms in Concord, N.C.
Credit Michael Tomsic / WFAE

Rotten peaches, drowned tobacco, moldy wheat and waterlogged watermelons.

Those are a few examples of how heavy rains in the Carolinas are decimating crops. Farmers are dealing with some of the wettest weather they've ever had, and all that rain is washing out a sizable chunk of the Southern economy.


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Local News
9:10 am
Fri August 23, 2013

Concord Hopes Allegiant Air Will Fuel Airport Expansion

Allegiant Airlines will begin flying twice-weekly to Orlando out of Concord Regional Airport on December 20, 2013.
Julie Rose

TSA screening and general passenger traffic are coming to the small, city-owned Concord airport.  It's a major step for an airport that has been, to this point, frequented mainly by NASCAR teams on private planes.


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Local News
5:00 pm
Wed August 21, 2013

BofA Trims Drive-Up Service In Some Branches

Bank of America is eliminating drive-up teller service at six branches in the Charlotte region.
Credit Sue Waters / Flickr

Bank of America is eliminating drive-through teller service at some of its branches across the country – including six locations in the Charlotte region.

  A bank spokeswoman says the decision was made in locations where use was low. Drive up ATMS will still be available at those branches.  Retail banking analyst Will Weidman, vice president of Applied Predictive Technologies, says banks are trying find a balance between traditional services like drive-through windows and new technologies that let people bank from home and on mobile devices.

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Local News
4:57 pm
Thu August 15, 2013

Movie Studio Plan For Eastland Mall Moves Ahead

Studio Charlotte CEO Bert Hesse (left) listens and City Neighborhood and Business Services Director Pat Mumford outlines the status of a deal to develop the former Eastland Mall.
Credit Julie Rose

  Eastland Mall will be demolished to make room for a movie studio – maybe. The city council is moving forward, tentatively, with a proposal from Studio Charlotte, but a lot still needs to be worked out.


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Business
4:43 pm
Wed August 14, 2013

Airlines' Attorney: DOJ Got Merger Lawsuit 'Very Wrong'

Attorneys for US Airways and American Airlines say they won't make the first move to settle a lawsuit filed Wednesday by the U.S. Department of Justice attempting to block the airlines from merging.

The Justice Department contends the merger will make it easier for the remaining mega-airlines – Delta, United and American – to cooperate on prices, rather than compete.  That means airfares will go up and service will decline, warns the lawsuit.  But an attorney for US Airways and American, Rich Parker, says the DOJ is "very wrong."

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Local News
12:16 pm
Wed August 7, 2013

U.S. Justice Department Sues Bank Of America Over Mortgage-Backed Securities

Bank of America sign.
Credit MoneyBlogNewz / Flickr

The U.S. Justice Department is suing Bank of America for allegedly misleading investors who bought some $850 million of mortgage-backed securities, bonds that are backed by a huge pool of mortgage loans. The government is accusing the country’s second-largest lender of hiding information about how risky some of the loans were.


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