The city of Durham will earn $1.6 million from the Durham Performance Arts Center this year.
The city, which owns DPAC, says unaudited financial statements for the 2014-2015 season’s financial results show the theater generated a net income of $5.3 million. The city gets a share of that under DPAC’s operating agreement.
Durham says its cut will go into the city’s DPAC Fund, which is used to pay down debt on the theater, maintenance, building improvements and other possible revenue shortfalls…
Raleigh’s gross domestic product has grown significantly faster than Durham’s in the past five years, and has outpaced the average of the nation’s largest metro areas.
From 2009 to 2014, Raleigh has seen its GDP increase by 26 percent to $72 billion. In that same time, the Durham-Chapel Hill metro area has increased its GDP by 10 percent to $44 billion, according to new data released by the U.S. Bureau of Economic Analysis.
Raleigh’s population growth has also outpaced the nation’s growth…
Dominion Realty Partners plans to start construction soon on a five-story, 294-unit apartment project on a vacant block near uptown Charlotte’s Gateway Village.
The Charlotte Business Journal reported earlier this year that the Raleigh-based commercial real estate firm was planning to develop the midrise complex on a 3.3-acre block bounded by Trade, Sycamore and Fifth streets, and Irwin Avenue. The property is on the opposite side of Irwin from the Gateway Village development on West Trade.
Dominion…
The announcement Thursday that Raleigh-Durham International Airport will be adding a non-stop flight to Paris Charles de Gaulle Airport next May marks the culmination of years of work by airport executives, business leaders and elected officials in the Triangle.
It also marks a $75 million gamble for Delta Airlines. The carrier is dedicating one of its 164-seat Boeing 757-200 jets to the daily service from RDU to Paris, which is set to begin May 12. It’s the same jet Delta uses for international…
Longtime Research Triangle Park-based IBM exec Deepak Advani has been tapped to lead the firm’s artificial intelligence efforts on the West Coast.
IBM (NYSE: IBM) disclosed that it’s opening a new San Francisco center for Watson, dubbed Watson West.
Watson is IBM’s “Jeopardy”-winning cognitive computing unit.
Advani, head of IBM’s commerce division, is leading the team, which will collaborate closely with the Silicon Valley startup scene, according to a company statement.
Advani has…
