Kevin Ellis

Charlotte

Managing Editor at Business North Carolina

Managing Editor at Business North Carolina and passionate about news. Followers and links are not endorsements.

Articles

Turkish company to make $82 million investment in Goldsboro, create 216 jobs

1 week ago | businessnc.com | Kevin Ellis

A company based in Istanbul, Turkey, will make an $82.6 million investment to create its first U.S. production facility in Wayne County, which is expected to create 216 jobs. Pelsan Tekstil A.S., a global leader in breathable film technologies for the hygiene and medical sectors, was established in 2006 and is a subsidiary to the Hassan Group, which has more than 80 years of experience in nonwoven and polymer film technologies.
Daimler Truck Financial Services bringing 276 high-paying jobs to Charlotte

1 week ago | businessnc.com | Kevin Ellis

Daimler Truck Financial Services, which provides financing, leasing and insurance options for Daimler Truck North America’s commercial vehicles, will invest $7.8 million to locate its headquarters in Charlotte, a move that’s expected to create 276 jobs. Salaries for the new positions will average $133,940, exceeding the Mecklenburg County average of $86,830, according to a release from the state. Daimler Trucks produces Freightliner trucks, Western Star trucks and Thomas Built Buses.
Canadian company to invest $56 million, create at least 122 jobs in Charlotte

2 weeks ago | businessnc.com | Kevin Ellis

An Ontario-based manufacturer of enclosures for industrial power generators will invest $56 million to establish a new production facility in Mecklenburg County that’s expected to create up to 325 jobs. AVL USA is a new company established by AVL Manufacturing in Canada. It specializes in the manufacture of custom industrial enclosures for large-format standby power generators.
Advance Auto shares soar 57% on reaffirmed full-year guidance

2 weeks ago | businessnc.com | Kevin Ellis

The stock of Advance Auto Parts jumped by more than half after the Raleigh-based retailer reaffirmed its full-year guidance, signaling it’s navigating higher costs and consumer caution due to tariffs. Advance, the operator of almost 4,300 stores, projected adjusted EPS of $1.50 to $2 in 2025. It estimated sales ranging from $8.4 billion to $8.6 billion, according to a statement.
RTI International announces third round of job cuts; employee assistance program

2 weeks ago | businessnc.com | Kevin Ellis

Durham-based RTI International announced a third round of job reductions as the nonprofit research institute says it has reduced its workforce by about 35% this year after cuts in federal funding under the Trump administration. The new round of layoffs will involve 170 U.S.-based staff members, including 76 in North Carolina. In March, RTI announced 340 job cuts, including 177 in North Carolina, which followed 226 layoffs, including 61 in North Carolina, in February.
Former resident bequests $24 million to Greensboro senior living community

2 weeks ago | businessnc.com | Kevin Ellis

A former resident of a senior living community in Greensboro made a $24 million bequest that will support benevolence care for its residents. Florence H. Phillips, who died in August at age 100, was one of the first residents of Well-Spring. Her bequest is the largest gift to Well-Spring in its history, according to the parent organization, Kintura. It is also believed to be one of the biggest bequests nationally to a retirement community.
Prolec-GE plans $140 million investment to create 330 jobs in Wayne County expansion

3 weeks ago | businessnc.com | Kevin Ellis

Prolec-GE Waukesha, a company with 374 employees already in Wayne County, plans to add 330 jobs with a $140 million investment to build a second manufacturing facility in Goldsboro. Headquartered in Waukesha, Wisconsin, Prolec-GE Waukesha is one of the nation’s largest manufacturers of power transformers. It’s a subsidiary of Monterrey, Mexico-based Prolec GE and acquired the existing Waukesha transformers business in Goldsboro in 2021.
Holly Springs lands $700 million investment, 420 jobs pledge from Genentech

3 weeks ago | businessnc.com | Kevin Ellis

Biotech pioneer Genentech plans to invest $700 million and create 420 jobs in the Wake County town of Holly Springs. Genentech, a subsidiary of Switzerland-based Roche Holdings, plans to pay an average annual wage of $119,833 over five years, beginning in 2028 and make the investment by Dec. 31, 2030, according to the state Economic Investment Committee. Wake County’s current average pay is $76,643.
AvidXchange sold in $2.2 billion deal

1 month ago | businessnc.com | Kevin Ellis

Charlotte-based AvidXchange will be acquired by TPG, a Fort Worth, Texas-based global alternative asset management firm in partnership with Corpay, a leader in corporate payments. TPG and Corpay will acquire AvidXchange for $10 per share in a cash transaction that values the accounts payable automation software provider at $2.2 billion.
NC Trend: Asheville's Aeroflow shows Amazon-like skill in healthcare.

1 month ago | businessnc.com | Kevin Ellis

While Asheville-based Aeroflow Health hit the 1,000- employee milestone in March, it wasn’t an overnight success by any means, says CEO Casey Hite. It took years and a personal crisis for the company to start growing. In 2014, the company founder and Hite’s brother, Don, died at age 44. The tragedy led Aeroflow to discover that doing less, but doing things better, could lead to its ambition of becoming the “Amazon of healthcare devices,” says Casey Hite.