As Asheville takes steps to reckon with its long history of systemic racism and economic inequity, local business owners are wondering what impacts the city’s ambitious initiatives will have on them.
News in brief: Dogwood Health Trust releases annual report, new jobs come to Fletcher
The foundation approved roughly $47 million in grants throughout the year, including over $3 million for personal protective equipment, $5 million to address substance use disorder, $3.7 million for racial equity and $3 million toward affordable housing.
Major milestones, unprecedented challenges for local media outlets in 2020
Former Xpress managing editor Jon Elliston shares his recap of key developments in 2020’s local media landscape.
2020 in review: Selling ads in a pandemic
The Xpress advertising team has a unique window into the region’s small-business community. After nine months of local economic turmoil, advertising representatives David Furr, Sara Brecht and Tiff Wagner reflect on the year’s ups and downs.
2020 in review: Trends in motion
Xpress Assistant Editor Daniel Walton and local community figures discuss how the year’s events have accelerated many of the issues that were already facing Western North Carolina.
State economic leaders tout diversification for WNC recovery
To position the WNC for future growth, the region must look to emerging markets, customer bases and supply chains, state economic development leaders shared during a round table discussion with local business owners.
BCTDA records best-ever monthly room sales
Buncombe County logged $53 million in room sales for October, the latest month for which data is available. The figure represents a 6% increase over the $50 million in sales for the same month in 2019 — and an all-time monthly record.
From CPP: High places brought low: Pandemic shakes up NC economic tiers used for government aid
Collapse of tourism and leisure economies devastating to Buncombe, Brunswick and New Hanover counties.
From Asheville Watchdog: Nonprofit Mission made lots of profits, especially for bosses
Tax records examined by Asheville Watchdog reveal that in the decade leading up to the $1.5 billion sale of Asheville’s community-owned hospital system, a steadily increasing amount of Mission’s revenue went to salaries and bonuses for an increasingly crowded suite of non-clinical executives.
Business booms for rural adventure outfitters
As urban dwellers flock to rural counties to get their fix of socially distanced outdoor recreation, local adventure shops are seeing a boom. Those located near trails, rivers and campsites have an added advantage: Close to the action means tailored advice and last-minute purchases.
Specialty retailers hope fall turnaround continues for holidays
With COVID cases rising, Black Mountain retailers worry that the modest rebound they’ve seen this fall might fade away before the holiday shopping season can give their balance sheets a much-needed yearend boost. But several factors could work in their favor: a strong commitment from residents to support their local stores, a sense that smaller shopping districts pose less risk than crowded city centers and widespread compliance with mask-wearing and social distancing guidelines.
Asheville’s jewelry industry undeterred by pandemic
Despite the statewide shutdown earlier this year, local jewelry stores report a profit in sales. But the good times are not universally felt throughout the industry.
WNC’s state legislators talk 2021 challenges
Chief among the issues facing the General Assembly next year, said Sen. Chuck Edwards, would be balancing the state’s next budget to reflect pandemic-driven downturns in revenue. He estimated that the shortfall compared to current spending levels could be as much as $8 billion.
Asheville Integrative Medicine closes up shop
Asheville Integrative Medicine will close next month, a victim of COVID-19 and the ensuing recession.
Erika Mayer on gratitude
The beautiful thing with Asheville is that businesses are so willing to build each other up instead of competing, so I’m thankful I’ve been able to quickly find a community that supports me and my business. And I’m glad I got to cut back my hours at my day job. In my personal life, I’m […]
Short-term rentals lead Buncombe tourism recovery
While overall hotel revenue was down more than 27% year-over-year in September, the latest month for which data is available, overall vacation rental sales that month increased by about 55% year-over-year, according to Explore Asheville interim CEO Chris Cavanaugh.
Unanimous approval for $27M Pratt & Whitney subsidy
No Buncombe County commissioners addressed why the subsidy was necessary for the company to make its investment during their Nov. 17 meeting. P&W is a division of Raytheon Technologies, a Fortune 50 company with approximately $10 billion in cash reserves.
Regional businesses share success with nonprofits
For many WNC nonprofits, business support and partnerships comprise a significant part of their budgets. And while Asheville has a comparatively large number of nonprofits per capita, area businesses rise to the need.
Buncombe proposes $27M subsidy for Pratt & Whitney
Under a proposed economic development incentive agreement, Buncombe County taxpayers would subsidize the division of military contractor Raytheon Technologies, which made over $77 billion last fiscal year, to the tune of $27 million.
Biz briefs: Catalyzing success, business comings and goings
Ten entrepreneurs of color with existing businesses have been selected for Mountain BizWorks’ inaugural Catalyst Cohort. Plus, business openings and updates.
News in brief: Job picture darker at low end, Upham honored
According to the Opportunity Insights Economic Tracker, the employment rate among Buncombe County workers making $27,000 or less per year was 30.2% lower in mid-September than at the start of 2020. By comparison, jobs making over $60,000 annually were down just 3.4% on the year.