Polymer Group launches $65M expansion

Polymer Group Inc. has started a major expansion of its Waynesboro, Va., plant, with the project representing a $65 million investment.

The Charlotte-based nonwovens manufacturer is installing production equipment at the site through a lease agreement provided by a joint venture between GE Capital and ING Capital.

“This expansion continues to build upon PGI’s ability to employ industry-leading technologies, combined with recent proprietary technological development,” says Daniel Guerrero, Polymer Group vice president and general manager of the U.S. region. “The installation of this advanced equipment enables PGI to deliver differentiated products to customers that will achieve enhanced and improved barrier, softness and opacity compared to the current marketplace capabilities for use in such products as diapers, and surgical gowns and drapes.”

The project will add 41 jobs to the Waynesboro operation. The expansion is slated for completion in the second half of 2011.

Polymer Group chose the Virginia site for the project earlier this year, selecting it over the company’s Mooresville plant. Incentives may have been the key to the deal. Virginia promised $1.5 million in two grants, as well as job-training assistance for the new employees. The two operations competed for the project for at least six months.

The addition would have nearly doubled the size of the company’s 210,000-square-foot plant in Mooresville Business Park. The facility employs 115 workers.

The company (OTCBB:POLGA) is based in Harris Corners Business Park in north Charlotte. Polymer Group has 14 manufacturing and converting facilities in nine countries.

Source: Charlotte Business Journal

N.C. gets $20.3M from feds for rail

North Carolina has received $20.3 million in federal funds as a first step in a plan to establish a high-speed rail link between Charlotte and Raleigh.

The N.C. Department of Transportation will use the allocation to refurbish passenger coaches and locomotives. The money from the Federal Railroad Administration represents the first installment on $545 million in American Recovery and Reinvestment Act funding granted earlier this year for N.C. passenger-rail system improvements.

N.C. DOT recently added midday service on the Piedmont passenger route between Charlotte and Raleigh. Plans are under way to launch a fourth daily trip between the Queen City and the state’s capital. Depending on funding, it could be in operation by 2012.

“This award is an exciting first step in the state’s partnership with the federal government to make high-speed rail a reality in North Carolina and the Southeast,” Gov. Bev Perdue says in a prepared statement. “For our citizens, it means jobs, economic development, reduced congestion and a cleaner environment.”

The goal for the Charlotte-to-Raleigh leg is to cut the trip to two hours from the current three-plus hours.

“It is a seminal project,” Patrick Simmons, director of the rail division of the N.C. Department of Transportation, said in February. “We are going to build a service that is reliable and where we link communities.”

Source: Charlotte Business Journal

N.C. ranks fourth in CNBC survey

CNBC ranks North Carolina as most improved among the top five states for doing business, according to a report the financial TV network released Tuesday.

The ranking elevated the state to fourth from ninth in the annual America’s Top States for Business survey.

“This shows that the hard work of the past year has paid off — our investments in education to build the work force of tomorrow, policies that create a more business-friendly climate and our aggressive recruiting,” Gov. Bev Perdue says in a statement. “When I took office, I pledged to take any meeting and make any call to bring jobs to this state. There’s nothing I love more than convincing a corporate executive of what a great place this is to live and work.”

The ranking is the highest North Carolina has achieved in the four years of the survey. In 2008 and 2007, North Carolina ranked sixth and fifth, respectively.

CNBC scored states on more than 40 measures of competitiveness based on the cost of doing business, work force, quality of life, economy, transportation and infrastructure, technology and innovation, education, business friendliness, access to capital and cost of living.
The network will release its full report Tuesday at http://www.cnbc.com.
The Tar Heel state was named as the state with the top business climate by Site Selection magazine eight of the last nine years, and was ranked second-best state for business by CEO Magazine.

Source: Charlotte Business Journal

State honored for 2009 economic development

Tennessee has been honored for its economic development.

The magazine Area Development gave the state a Silver Shovel Award for successful job creation and economic impact. Georgia and Indiana also won the award for states with a population of 5 to 10 million.

The award covers economic development projects announced in 2009.

The magazine focuses on corporate site selection and facility planning.

Source: WATE.com

Business booming after ‘The Dragon’ re-opens in Blount County

Saturday was the first full day the section of U.S. 129 known as “The Dragon” was open after a rockslide and local business owners were glad to see so many people back in the area.

The stretch of switchbacks is a popular destination for both motorcyclists and driving enthusiasts.

“It’s the curves, just the thrill of being able to go around them. You enjoy the ride,” said Joey Norris, who rode his motorcycle from Georgia to The Dragon.

“The curves, these pretty days, the mountains. We like to come to the mountains,” said Danny Robinson, another motorcyclist from Georgia.

Local business owners say business has been picking up since Friday.

“We’ve seen a lot of bikes,” said Jon Swicegood, the manager of Rite Stop Market. “We had a group from Canada in here today. We’ve probably had 50 bikers in the last two hours, so it has definitely picked up.”

Swicegood says the closure of The Dragon slowed his business considerably, but his convenience store wasn’t the only place seeing a boost in business Saturday.

“We get a lot of motorcycle traffic going to The Dragon and that helps us on our business on the weekend,” said Shirley Clark, owner of T. C.’s Grill on Highway 129.

Clark said when the news broke Friday about the road re-opening many people came in the morning only to find out it wouldn’t officially be open until 5:00 p.m.

Many of the motorcyclists then waited at her restaurant until the road opened. “We could tell we were busier,” Clark said.

Now business owners say they can tell the news The Dragon is back open is spreading. “It spread really fast,” said Swicegood. “We’ve had hundreds of people coming in here.”

“We are real glad,” said Robinson. “We got some more buddies waiting on us. They come up here yesterday.”

The Blount County Sheriff’s Office and the Tennessee Highway Patrol will have officers on The Dragon this weekend. The patrol is something they normally do during the summer months when traffic is heavier.

Source: WATE.com

2 Tennessee companies honored by Pentagon

The Department of Defense is honoring two Tennessee companies for their support of employees who serve in the military.

Dollar General of Goodlettsville and Franklin’s Printing of Murfreesboro will receive the 2010 Secretary of Defense Employer Support Freedom Award.

It’s the highest recognition given by the U.S. Government to employers of those in the military.

Dollar General honors all service members with a Veterans Day event and offers discounts to veterans and their families.

Franklin’s Printing, among other services, prints brochures for military groups, military personnel and their families at no cost.

The award has been presented since 1996.

Source: WATE.com