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Business

This category contains 192 posts
NEW BANKER IN TOWN BEDFORD "WILL" BOYCE, MARKET EXECUTIVE FOR SELECT BANK WHICH JUST OPENED ON WEST CATAWBA

FDIC: Bank deposits soaring in Cornelius

By Dave Yochum.  Brand new market share reports from the Federal Deposit Insurance Corp. show big gains in banking deposits in Cornelius. Between June of 2015 and June of 2019, deposits in Cornelius deposits rose 35.9 percent to $1.098 billion. And, more is on the way. Chase Bank plans a new branch on 1.5 acres […]

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Aquesta net income rises 46.8% year over year

Aquesta Financial Holdings—Cornelius’ only home-grown bank and public company—reports that 2019 net income increased dramatically. Earnings from continuing operations grew at the rate of 46.8 percent year over year. Jim Engel, CEO & president, said he hoped the momentum from “excellent earnings and balance sheet growth” for the final quarter of 2019 would carry into […]

Lost Worlds Brewery Front Rendering 750

Cornelius author, consultant hops into craft beer

By Dave Vieser. Lost Worlds Brewery has found a place in a strip shopping center on West Catawba in Cornelius. If all goes as planned, the suds will be flowing sometime this winter according to co-owners Dave and Allison Hamme. The brewery was founded to create a “basecamp for adventure-seekers,” said David Hamme, a nationally […]

Pro sales tax forces have spent millions to impact public opinion

By Dave Vieser. This fall, voters in Mecklenburg County are being given the option to raise the local sales tax from 7.25 percent to 7.50 percent. Revenue from such a tax hike would raise approximately $50 million annually. About 45 percent would go to the arts, $17 million to parks and recreation, $8 million to […]

ROBIN & JACK SALZMAN

Michael Waltrip Raceworld complex under contract to top auto dealer

By Dave Yochum. Business Today reported last week that the owners of Lake Norman Chrysler Jeep Dodge have the former Michael Waltrip Raceworld under contract for an undisclosed amount. LKNCJD owners Robin and Jack Salzman plan a new retail facility that would include a prep shop and 10,000 square feet of space for non-profits and […]

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Following the money: Chase plans to build a branch in Cornelius

Aug. 5. By Dave Vieser. In an area already filled with financial institutions, Cornelius may be landing another big one. Chase Bank has its eyes on prime corner property at Jetton and West Catawba where a closed Rite Aid pharmacy stands. Chase actually intends to demolish the old pharmacy. It will also build a bank […]

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Duke Energy will ramp up inspections because of Jetton outages

July 25. By Dave Vieser. Failed splices within Duke Energy’s complex duct bank system are behind several lengthy power outages in The Peninsula. A duct bank refers to a group of electrical conduits that provide pathways and protection for electrical wiring. As a result, the company is tightening up their procedures. “We have increased our […]

Aquesta 1st Quarter net soars 52 percent

April 22. Aquesta Financial Holdings, parent of Aquesta Bank, said first-quarter net rose 52 percent from $702,000 last year to $1.068 million during the three months ended March 31. Core deposits rose 30.9 percent during the same period. “We are off to an excellent start to 2019,” said CEO Jim Engel. Key highlights include loan […]

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Cornelius: The $7 billion town (yes, it’s budget time)

By Dave Yochum.  A war of words is under way in Cornelius as differing views on how to spend taxpayers money come to the fore during intense budgeting for the upcoming fiscal year. The first to weigh in was Commissioner Dave Gilroy who said there appears to be three votes on the Town Board “to […]

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Is a tax increase inevitable?

By Dave Viser. While town officials are keeping their oinions close to the vest, the possibility that your property taxes will rise is very real, due to growing needs in public safety and parks and recreation. Higher valuations don’t automatically mean higher taxes: The rate can be adjusted down to “revenue neutral,” or a little above […]