Jan 17, 2023

County's $11.9M Downtown Building Purchase Nears Closing Date

By Johanna F. Still, posted About 13 hours ago

Though it’s been delayed by about two weeks, the closing for the sale of the former Bank of America building downtown is expected to take place in early February.  New Hanover County is slated to purchase the building at 319 N. Front St. for about $11.9 million.  The county will also spend $14.8 million to enhance the building and eventually gift the ...

Jan 11, 2023

By next week, the city of Wilmington is expected to own 820 N. Second St., a property that will add to the city's holdings at its northern entrance. The Wilmington City Council voted unanimously Tuesday night to allocate $4.8 million for the purchase of the 1.88-acre parcel from the Salvation Army, which has been using it for its shelter, administrative of ...

Jan 10, 2023

New Hanover County has signed a lease agreement with The Healing Place of New Hanover County Inc.  The agreement with the nonprofit organization outlines the dynamic the two entities have agreed to as construction nears an end for the county-owned opioid and alcohol recovery center at 1000 Medical Drive. Work to bring the facility to fruition has been underway f ...

Ico insights


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Girard Newkirk
Genesis Block

Genesis Block Aims to Connect Minority Owned Firms to $2.5 Million in Contracts in 2023

Posted Jan 4, 2023
Genesis Block is preparing for an exciting 2023 by announcing a company goal to broker $2.5 million in contracting opportunities for minority owned firms. The average minority business enterprise spending (when spending with public companies is included) is 3.29%. This average must increase 4–5 times current levels to between 13%-16% to achieve revenue parity with white owned firms. In 2018, entire article
Jan 10, 2023

The city of Wilmington's state legislative goals are expected to include support for finding ways to fund transportation and infrastructure needs. The Wilmington City Council heard a summary of the state and federal proposed goals Monday morning from the city's director of legislative and intergovernmental affairs, Kara Spencer, who has been in the post for a li ...

Jan 6, 2023

City To Consider Buying Downtown Salvation Army Property

By Staff Reports, posted Jan 6, 2023

The Wilmington City Council will consider allocating funds to buy another northern downtown gateway property, for a price of nearly $5 million, at its meeting next week.  The 1.88-acre property, 820 N. Second St., has been home to a Salvation Army shelter, the organization's administrative offices and one of its thrift store. WHQR reported in December that ...

Jan 4, 2023

The N.C. Department of Transportation is attempting to acquire land currently slated for development adjacent to the Cape Fear Memorial Bridge in anticipation of an eventual bridge replacement.    Though a replacement is still unfunded, the proposed project stands in the path of each of the four options under consideration. Acquiring the property before it gets ...

Jan 3, 2023

The N.C. Utilities Commission has sided with the village of Bald Head Island in its bid to regulate the small community's parking and barge operations.  In light of the pending sale of Bald Head Island Ltd.’s ferry assets to investment firm SharpVue Captial, the village sought state intervention to regulate all aspects of the transportation system. Bald H ...

Dec 20, 2022

Leland Settles With Engineering Firm Over Road Project Dispute

By Johanna F. Still, posted Dec 20, 2022

The town of Leland has reached a settlement arising from a dispute with engineering services firm URS Corp., also known as AECOM, a Fortune 500 company.  URS has agreed to pay the town $75,000 to avoid a lawsuit for the town’s claims regarding faulty construction plans for the Northgate Drive Realignment project. On Tuesday, the town council authorized the to ...

Dec 16, 2022

When they started working on a redevelopment idea more than five years ago, New Hanover County officials envisioned the transformation of a county-owned block in downtown Wilmington that would provide a mix of public and private space. But the idea that turned into Project Grace hit a major snag this year when the state’s Local Government Commission (LGC) failed t ...

Dec 16, 2022

Economic development agencies in the region had a busy 2022. A slate of projects was granted state and local incentive packages tied to job and capital investments, set to create nearly 1,200 new positions in the Cape Fear region over the next 12 years. Combined, Wilmington’s and New Hanover County’s new planned annual financial payments nearly triple previo ...

Ico insights


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In The Current Issue

Banking Industry Watchers Predict 2023 Trends

Bankers and financial advisers may have slightly different perspectives on what 2023 may bring, but taken together, they paint a diverse pic...

Wilmington's Slim Local Capital Market

“You might have a company that has been talked about or created even here in Wilmington,” said Mayor Bill Saffo, “but those individuals are...

2023: A Look Ahead

While economic factors such as inflation and interest rate changes are expected to impact several sectors in the Wilmington area this year,...

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