Four Business Stories You Might Have Missed This Week

It was a shorter week in business due to the Memorial Day holiday, but there were still plenty of news items that impact the Triad. In this edition of the Triad Business Journal, Katie Arcieri breaks down the latest stories.

1. Probably the biggest business item of the week broke late Tuesday evening when the Federal Trade Commission's gave clearance to the Reynolds/Lorillard deal. Arcieri says the FTC is requiring the companies to divest four cigarette brands as part of the process.

"They're basically saying to Reynolds, 'you're going to have to sell off three of these major brands, and Lorillard, you're going to have to sell off this Maverick brand to level the playing field and to have this merger be competitive for other players in the marketplace.'"

2. There's 105 jobs coming to Rockingham County due to a demand in airline carpeting. Mohawk industries is expanding there with an $8 million investment. 

3. An Israeli fabric maker is also expanding in the Triad. The company Avgol makes diapers and feminine products and is expanding its Mocksville facility with 100,o00 square foot manufacturing and distribution facility. It plans to create 50 jobs.

4. A new company is making a home in the Triad. Wildcat Territory, a New York firm, is moving its manufacturing operations to the Triad because it's too expensive in the Big Apple. 20 new jobs may be created with the move. 

Arcieri says while the numbers of jobs created aren't huge, they are in places that have been hurting from the unemployment and the news is a boost to the community.

"And there's the benefit of other companies looking to this area and seeing that other companies are expanding. So, that's a good sign for things to come."