Posts Tagged ‘Economic Development’
Monday, May 23rd, 2011
 BALTIMORE, MD – Bambeco, an online seller of “eco friendly” products such as bamboo and others made from materials that are all-natural, biodegradable, nontoxic, organic, recycled, recyclable, repurposed or renewable, has raised just over $932,000 in an equity raise targeted at $1.5 million, according to a regulatory filing.
The company sells products in a variety of areas, including home decor, kitchen and bath, outdoor, pet, and seasonal items.
The company disclosed the raise in a filing with the U.S. Securities and Exchange Commission. It cites Richard Faint, a company director from Baltimore’s Exceptional Software Strategies, Susan Alpin, CEO, Carylyn Wapnick, CTO, and Sandra Huffer, a director, as principals.
Tags: Baltimore, Bambeco, Economic Development, financing, online seller
Posted in Internet/New Media, Maryland, Money, Potomac | Comments Off
Thursday, May 12th, 2011
 ATLANTA – With the signature of Governor Nathan Deal, Georgia’s solar energy tax credit is increasing to $5 million annually in 2012, 2013 and 2014 from the current $2.5 millionyearly limit. The new law, which the General Assembly approved last month, helps ensure that the vibrant solar energy industry in Georgia continues to thrive, creating jobs and new investment opportunities statewide, says the Georgia Solar Energy Association.
Businesses are eligible to receive up to $500,000 in tax credits to offset the cost of installing solar photovoltaic (PV) electricity generating systems, and homeowners are eligible to receive up to $10,500 in tax credits for residential solar energy systems.
The tax credits must be taken over four years. If the $5 million ceiling is reached in any year, eligible taxpayers on a waiting list will have priority over taxpayers that apply for the credits in subsequent years. The Georgia Department of Revenue will determine other administrative details about the tax credits.
Georgia Solar Energy Association (GSEA) board member and Advocacy & Education Committee Chair Greg Chafee, head of the Energy Practice at Morris Manning & Martin, said Governor Deal’s leadership made a crucial difference in creating the new solar investment opportunity.
“Thanks to support from Governor Deal, Senate Floor Leader Ronnie Chance (R-Peachtree City), and Representative David Knight, (R-Griffin) Chairman of the Special Committee on Small Business Development and Job Creation, a robust solar energy industry in Georgia will generate employment, improve and diversify our energy infrastructure, and bring the latest in technological innovation to the state,” Chafee said.
Anthony Coker, Senior Director for Suniva, Inc., and Vice-Chairman of GSEA, said the increased solar tax credits will help Georgia compete in the economic development market with a meaningful ripple effect on the state’s economy.
GSEA board member Sylvia Minton, senior vice president for Mage Solar, a German solar manufacturer with a production facility in Dublin, Ga., Board Member James Marlow, CEO of Radiance Solar, and GSEA State Program Director Joy Kramer attended the signing ceremony at the Georgia State Capitol.
In 2010, clean energy tax credits totaling almost $2 million were awarded to 47 solar PV projects and 90 solar water heating installations in Georgia.
The tax credits helped to develop major new solar energy projects including:
- Choate Construction Company Headquarters Building, Atlanta, 74 KW capacity, designed and built by Empower Energy Technology, Atlanta, $575,000 pre-incentive value.
- White Oak Pastures, Bluffton, Ga., beef processing facility, 50,000-watt capacity, $326,000 pre-incentive value, designed and built by Hannah Solar, Atlanta.
- Persimmon Creek Vineyards, sustainable winery in Clayton, GA, solar array designed and built by Radiance Solar, Atlanta.
TechJournal South is a TechMedia company. TechMedia presents the annual conferences:
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Tags: clean energy, Economic Development, Georgia Solar Energy Association, Georgia solar energy tax credits, Gov. Nathan Deal
Posted in Economic Development, Energy, Google | Comments Off
Friday, February 11th, 2011
 ATLANTA – Suniva, a company that makes and markets solar cells that are more efficient than conventional ones, plans to invest as much as $15 million in its Norcross, GA, facility, and may raise $75 million over the next few months, according to the Atlanta Business Chronicle.
The Chronicle reports that the company will raise the new funds as it readies a second production $200 million facility planned for Saginaw, Michigan.
The company is behind schedule on the Michigan project as it waits on a US Department of Energy loan guarantee. (See: Suniva negotiating for $141 million DOE loan.
The company has raised more than $160 million in venture backing.
Suniva was a presenting company at TechMedia’s 2008 Southeast Venture Conference. The next SEVC is slated for March 2-3 at the Buckhead Ritz Carlton in Atlanta. It was also one of TechJournal South’s Tech 50 companies in 2008.
Suniva’s technology is based on the work of Ajeet Rohatgi of the Georgia Institute of Technology’s University Center of Excellence in Photovoltaics, who founded the company in 2006.
Suniva’s high-quality monocrystalline solar cells incorporate multiple proprietary design elements that allow them to achieve best-in-class efficiencies of 19 percent. Conventional solar cells are only about 16 percent efficient at turning solar rays into electricity.
Additionally, Suniva reduces the time and cost associated with commercializing new solar technology by developing its innovative designs in incremental stages.
TechJournal South is a TechMedia company. TechMedia presents the annual conferences:
Internet Summit | www.internetsummit.com
Digital East | www.digitaleast.com
Southeast Venture Conference | www.seventure.org
Tags: Economic Development, GA, Norcross, solar cell facility, Southeast Venture Conference, Suniva
Posted in Economic Development, Energy, Georgia, Hardware | Comments Off
Friday, January 28th, 2011
 FAYETTEVILLE, NC – The Partnership for Defense Innovation (PDI), which promotes economic development, has increased the amount of economic development grant money being awarded through the PDI Call for Technologies Competition, from $32,000 to $65,000 in cash and client services. The PDI Fusion Grant is funded by the State of North Carolina and is designed to assist in improving the success rate of early-stage defense and security technology companies.
The winners will be announced in conjunction with the North Carolina Defense Business Association’s (NCDBA) 1st Annual Symposium and Exposition being held April 19-20, 2011 at the Pinehurst Resort in Pinehurst, NC.
Those companies interested in competing should have a working prototype or are currently developing a product or services for use in the areas of defense, security and intelligence. The technologies and the companies will be screened for business potential, scientific merit and commercial viability, as well as the quality of the management team.
Scott Perry, PDI President, stated, “We’re excited to make this a part of the NCDBA’s Annual Symposium and Exposition. During a time of economic distress, it is important to continue to seek out technologies for our war fighter by infusing our small businesses to promote revenue and jobs for the state.”
Initial executive summaries are due by Friday, February 25, 2011 by 5:00pm EST. Semi-finalists will be announced on March 7, 2011. All semi-finalists will be required to submit a full business plan by Friday, April 8, 2011 by 5:00 pm EST.
A total of five finalists will be chosen to give a presentation on their technology to a panel of judges on Tuesday, April 19, 2011 at the NCDBA’s 1st Annual Symposium and Expo.
First place award will be a $37,000.00 Fusion Grant awarded to promote economic development as well as a $13,000 client services package from the PDI DSTA program. The second place award will be a $10,000.00 Fusion Grant awarded to promote economic development, as well as a $5,000.00 PDI DSTA client services package. Both awards will be announced live on Wednesday, April 20th, 2011 at the NCDBA Symposium.
To complete an application and for a complete list of eligibility rules and requirements, see: www.ncpdi.org
Tags: defense, Economic Development, Fayetteville, intelligence, NC, Partnership for Defense Innovation, PDI Technologies Competition, Security
Posted in Carolinas, Economic Development, Events, Government/Defense, Money, North Carolina, Security | Comments Off
Monday, January 10th, 2011
 RALEIGH, NC – Red Hat, the major seller of Linux open source software, says it will keep its headquarters in Wake County and add more than 500 jobs over the next five years. The company currently employs about 700 people at its headquarters at North Carolina’s Centennial Campus.
North Carolina awarded Red Hat nearly $15 million in incentives for its two-tiered expansion.
The company will invedst $109 million in new headquarters in Wake County of 300,000 to 4000,000 square feet and add 540 jobs – 240 in the next four years and 300 in 2015 as it introduces new products.
Companies have to meet hiring goals to receive the full amounts of Job Development Investment Grants from the state.
Red Hat has not yet selected the site for its expansion, but said it will be in Wake County.
The company has acknowledged considering sites in Austin, Texas, Atlanta, Boston, and in nearby Durham, NC.
Tags: Atlanta, Austin, Boston, Durham, Economic Development, jobs, NC, open source sofware, Raleigh, Red Hat, TX
Posted in Carolinas, Economic Development, IT, North Carolina, TechJobs | Comments Off
Thursday, December 23rd, 2010
 HOLLY SPRINGS, NC – North Carolina has seen a small spate of job gains – many fueled by state and local incentives – the last months of 2010. Now, Novartis (NYSE: NVS) says it will expand its vaccine production plant in Holly Springs, adding another 100 jobs.
The $36 million expansion of the billion dollar facility will qualify the company to receive up to $3.7 million in state tax incentives.
Swiss-based Novartis says the new jobs will pay an average of $106.200 a year plus benefits. High paying jobs such as those tend to bleed more money into the local economy, which is one reason biotech and life science firms are eagerly sought by regions internationally.
The announcement of the Novartis expansion follows recent good economic development news in the state from smart phone maker HTC, Enviva, and Arvato.
Tags: Biotech, Economic Development, Holly Springs, jobs, NC, Novartis, Pharma
Posted in Biotech, Carolinas, Economic Development, North Carolina, Pharma, TechJobs | Comments Off
Wednesday, December 22nd, 2010
 DURHAM, NC – Bellevue, WA-based HTC, which designs smart phones, says it will open a research and development office in the American Tobacco Campus in Durham, NC. The company plans to employ 45 people and open the office in March.
The company will benefit from $150,000 in incentives from Durham.
The move is the latest in a flurry of activity at the American Tobacco Historic District. Its American Underground site, which just opened earlier this year, is now home to the NC CED and a handful of start-up firms.
The company lists 14 positions open in Durham on its web site.
“HTC has been successful bringing its unique brand of people-centric innovation to consumers, and with the establishment of this new R&D office, we are taking an important step to extend our leadership position in the wireless industry,” Ron Louks, HTC chief strategy officer, said in a statement. “Durham is a perfect place to open our new R&D office because we are able to tap into this deep pool of technical talent that complements HTC’s leading-edge R&D efforts going on around the world.”
Tags: American Tobacco Campus, Durham, Economic Development, HTC, NC, smart phones
Posted in Carolinas, Economic Development, Internet/New Media, IT, North Carolina, Tech Space, Telecommunications | Comments Off
Tuesday, December 21st, 2010
 WEAVERVILLE, NC – Arvato Digital Services, which sells services to IT, gaming, video and audio companies, says it will expand its call center in Buncombe County, adding 408 jobs.
Arvato, a division of Germany’s Bertelsmann AG, will invest $1.8 million in its Weaverville facility over three years. It currently employs 575 people there.
If the company meets job targets, it will qualify for a $200,000 One North Carolina Grant.
The company says the average annual wage for the jobs at its call center will be $26,143 plus benefits. The County’s average salary is $32,968.
Tags: Arvato Digital Services, call center, Economic Development, jobs, NC, tech support, Weaverville
Posted in Carolinas, Economic Development, IT, North Carolina | Comments Off
Tuesday, October 19th, 2010
 RALEIGH, NC – Saertex USA, which makes high tech composite materials for the green energy sector, is investing $6.5 million to expand its facility in Huntersville, NC. It plans to create 178 new jobs over the next three years.
The company sells materials used in aerospace, auto and ship manufacturing, and wind energy equipment.
The company, which has had an operation in Huntersville since 2000, currently employs 126 people there.
The company says the new jobs pay an average of $41,506 plus benefits. The state will provide the company with a $110,000 One North Carolina Grant to support the expansion.
Tags: Economic Development, Huntersville, jobs, NC, Saertex
Posted in Carolinas, Economic Development, Hardware, North Carolina, TechJobs | 1 Comment »
Friday, October 15th, 2010
 RALEIGH, NC – Siemens Energy will create 139 new jobs and invest $2.9 million in an expansion of its smart grid project in Wake County, NC.
The company will receive up to $2.6 million in NC tax incentives if it meets job creation goals.
Siemens says the new jobs will averagee $88,882 a year plus benefits.The company currently employs 262 people at its Wendell, NC Power Distribution and Transmission facility.
Dave Pacyna, general manager of Siemens Energy’s North American Transmission and Distribution said, “Over the next four years, we will expand to serve the substantial infrastructure investment in the power grid, especially in making the grid smarter to increase the reliability and efficiency of America’s electricity supply.
“North Carolina provides a great business climate from which we can continue to serve our customers, and we appreciate the steady support we’ve gotten from the state’s leaders for this project and others.”
Siemens said earlier this year that it will add more than 800 jobs to its Charlotte operations as well.
North Carolina is ranked fourth in the nation for job creation despite its 9.7 percent unemployment rate. It’s some world we live in when getting unemployment down to 9.7 percent is considered positive, but some states, such as Nevada, which has the highest unemployment rate in the nation at around 15 percent, are faring much worse.
We have seen recent figures that suggest the unemployment rate for college graduates is much lower than those averages and is under 4 percent.
Tags: Charlotte, Dave Pacyna, Economic Development, grid technology, jobs, NC, Siemens, Wake County, Wendell
Posted in Carolinas, Economic Development, IT, North Carolina, TechJobs | Comments Off
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