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North Carolina lawmakers rush to rewrite hemp legislation

A closed-door deal could determine whether many THC hemp products remain on shelves this fall.

Politics

Republican lawmakers in North Carolina are negotiating whether intoxicating hemp products — including gummies, vapes, seltzers and flower — should <a class="gtmContentClick" data-vars-link-text="remain legal" data-vars-click-url="https://www.axios.com/local/raleigh/2026/03/03/north-carolina-thc-business-keep-operating-and-hope-for-a-stop-to-federal-changes" data-vars-content-id="1fb9ed7a-9427-4ed3-9c2d-5fad198e2b4c" data-vars-headline="North Carolina lawmakers rush to rewrite hemp legislation" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2026/03/03/north-carolina-thc-business-keep-operating-and-hope-for-a-stop-to-federal-changes" target="_self">remain legal</a> after new federal restrictions take effect in November.Why it matters: Without a state carveout, many hemp-derived THC products could disappear from North Carolina shelves this fall, threatening businesses across the state.

The RTP 3.0 era officially begins

RTP 3.0 are an ambitious set of land reforms that could bring a mixed-use future to the business park.

Development

A new era is officially underway in <a class="gtmContentClick" data-vars-link-text="Research Triangle Park" data-vars-click-url="https://www.axios.com/local/raleigh/2025/11/25/research-triangle-park-clears-final-hurdle-rtp-30-rezoning-durham-wake-counties" data-vars-content-id="46dc624c-56d1-464b-8fc9-73a8726be7fb" data-vars-headline="The RTP 3.0 era officially begins" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/11/25/research-triangle-park-clears-final-hurdle-rtp-30-rezoning-durham-wake-counties" target="_self">Research Triangle Park</a> after the companies and landowners based in the 7,000-acre campus gave the final approval to its RTP 3.0 land rules. Why it matters: The land-use changes, which had already been approved by Wake and Durham counties, could significantly change the built environment of the Triangle&#x27;s most influential economic engine of the past six decades. <ul><li>Nearly 400 companies are based in RTP, ranging from behemoths like <a class="gtmContentClick" data-vars-link-text="IBM" data-vars-click-url="https://www.axios.com/local/raleigh/2025/10/21/ibm-campus-future-research-triangle-park-moving-employees" data-vars-content-id="46dc624c-56d1-464b-8fc9-73a8726be7fb" data-vars-headline="The RTP 3.0 era officially begins" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/10/21/ibm-campus-future-research-triangle-park-moving-employees" target="_self">IBM</a>, <a class="gtmContentClick" data-vars-link-text="Lenovo" data-vars-click-url="https://www.axios.com/local/raleigh/2025/09/22/lenovos-next-20-years-in-the-triangle-is-all-about-ai" data-vars-content-id="46dc624c-56d1-464b-8fc9-73a8726be7fb" data-vars-headline="The RTP 3.0 era officially begins" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/09/22/lenovos-next-20-years-in-the-triangle-is-all-about-ai" target="_self">Lenovo</a> and <a class="gtmContentClick" data-vars-link-text="Biogen" data-vars-click-url="https://www.axios.com/local/raleigh/2025/07/21/biogen-investment-research-triangle-park-manufacturing-facilities-north-carolina" data-vars-content-id="46dc624c-56d1-464b-8fc9-73a8726be7fb" data-vars-headline="The RTP 3.0 era officially begins" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/07/21/biogen-investment-research-triangle-park-manufacturing-facilities-north-carolina" target="_self">Biogen</a> to hundreds of startups. </li></ul>

North Carolina lawmakers release full state budget proposal

North Carolina has gone more than a year without passing a comprehensive state budget.

North Carolina Republican lawmakers, who lead both chambers of the state&#x27;s General Assembly, have released a long-awaited <a class="gtmContentClick" data-vars-link-text="state spending bill" data-vars-click-url="https://webservices.ncleg.gov/ViewNewsFile/117/S257-CCSNExr-2%20v78" data-vars-content-id="b7d779ee-4024-4e4e-b915-bf522486943a" data-vars-headline="North Carolina lawmakers release full state budget proposal" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://webservices.ncleg.gov/ViewNewsFile/117/S257-CCSNExr-2%20v78" target="_blank">state spending bill</a> with hopes of voting on it this week. Why it matters: The state has gone <a class="gtmContentClick" data-vars-link-text="more than a year without a budget" data-vars-click-url="https://www.axios.com/local/raleigh/2026/05/12/republican-leaders-general-assembly-budget-legislature-north-carolina" data-vars-content-id="b7d779ee-4024-4e4e-b915-bf522486943a" data-vars-headline="North Carolina lawmakers release full state budget proposal" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2026/05/12/republican-leaders-general-assembly-budget-legislature-north-carolina" target="_self">more than a year without a budget</a>, as the N.C. House and N.C. Senate remained at odds over priorities, leaving things like raises for teachers and state employees in limbo.

Pair of bills advancing in North Carolina budget's shadow

While budget talks dominate, lawmakers quickly moved bills on public camping and diaper taxes.

While the <a class="gtmContentClick" data-vars-link-text="state budget" data-vars-click-url="https://www.axios.com/local/raleigh/2026/06/30/north-carolina-lawmakers-release-full-state-budget-proposal" data-vars-content-id="0af69d69-2ce8-4641-b38b-1b9171e4e670" data-vars-headline="Pair of bills advancing in North Carolina budget&#x27;s shadow" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2026/06/30/north-carolina-lawmakers-release-full-state-budget-proposal" target="_self">state budget</a> is sucking up most of the air in the General Assembly this week, some other consequential pieces of legislation are advancing quickly.Why it matters: A newly fast-tracked bill rewrites North Carolina&#x27;s homeless policy to align with Trump administration priorities, and a House proposal would eliminate sales taxes on period products, baby wipes and diapers.

Downtown Raleigh businesses fret over parking deck's future

The Wilmington Street parking deck, located next to Marbles Kids Museum, is used by downtown workers and visitors.

Business

Several downtown Raleigh businesses and organizations are raising concerns that the city is on the cusp of selling a parking deck it owns on <a class="gtmContentClick" data-vars-link-text="Wilmington Street" data-vars-click-url="https://raleighnc.gov/parking/places/wilmington-street-station-parking-deck" data-vars-content-id="36d6281c-ff86-45e3-af3c-58755d2268f5" data-vars-headline="Downtown Raleigh businesses fret over parking deck&#x27;s future" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://raleighnc.gov/parking/places/wilmington-street-station-parking-deck" target="_blank">Wilmington Street</a>. Why it matters: Raleigh city leaders have been debating the long-term future of its parking decks and whether it should own them at all due to a <a class="gtmContentClick" data-vars-link-text="budget shortfall it has experienced" data-vars-click-url="https://www.axios.com/local/raleigh/2026/03/10/city-raleigh-higher-parking-deck-fees-downtown-business" data-vars-content-id="36d6281c-ff86-45e3-af3c-58755d2268f5" data-vars-headline="Downtown Raleigh businesses fret over parking deck&#x27;s future" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2026/03/10/city-raleigh-higher-parking-deck-fees-downtown-business" target="_self">budget shortfall it has experienced</a> in its parking operations. <ul><li>Yes, but: Businesses say the city-owned parking decks — and the two-hour free parking that has been offered since 2024 — are a critical component of getting visitors back to downtown during its <a class="gtmContentClick" data-vars-link-text="post-pandemic recovery" data-vars-click-url="https://www.axios.com/local/raleigh/2024/04/26/downtown-raleigh-gains-some-momentum" data-vars-content-id="36d6281c-ff86-45e3-af3c-58755d2268f5" data-vars-headline="Downtown Raleigh businesses fret over parking deck&#x27;s future" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2024/04/26/downtown-raleigh-gains-some-momentum" target="_self">post-pandemic recovery</a>. </li></ul>

Lumbee tribal voters reject casino despite I-95 land deal

Robeson County is one of the poorest in North Carolina. Tribal leaders had already bought land for a casino.

Lumbee tribal members voted Tuesday against a constitutional amendment that would have allowed gaming, dealing a setback to the <a class="gtmContentClick" data-vars-link-text="newly federally recognized" data-vars-click-url="https://www.axios.com/local/raleigh/2025/12/17/north-carolina-lumbee-tribe-federal-recognition-casino" data-vars-content-id="e9c311ff-eb79-48e2-854b-f44427382ea8" data-vars-headline="Lumbee tribal voters reject casino despite I-95 land deal" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/12/17/north-carolina-lumbee-tribe-federal-recognition-casino" target="_self">newly federally recognized</a> tribe&#x27;s plans for a casino in Robeson County.Why it matters: A casino along Interstate 95 was pitched as a potential economic game-changer for one of North Carolina&#x27;s poorest regions.

Merck acquires Raleigh-based Targan and its poultry tech

The deal is expected to be a boon for local investors.

Pharmaceutical giant <a class="gtmContentClick" data-vars-link-text="Merck" data-vars-click-url="https://www.axios.com/pro/biotech-deals/2026/03/25/merck-takeover-targets" data-vars-content-id="1831d3d4-f006-42a0-87e7-b22918c9f126" data-vars-headline="Merck acquires Raleigh-based Targan and its poultry tech" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/biotech-deals/2026/03/25/merck-takeover-targets" target="_self">Merck</a> is acquiring a Raleigh company whose technology helps poultry producers identify the sex of chicks and vaccinate them. Why it matters: Merck&#x27;s acquisition of Targan, whose labs are located in a redeveloped Kroger on Six Forks Road in Raleigh, gives Targan access to Merck&#x27;s global reach while delivering a significant exit for local investors.<ul><li>Targan&#x27;s automated technology can sort days-old chicks by their sex, a useful tool in commercial farming, where egg-laying hens are a valuable commodity, and vaccinate them via a spray method more accurately. </li></ul>

JetZero breaks ground on North Carolina manufacturing site

The company is making a big bet on a new design for airplanes.

News

JetZero, the experimental aircraft manufacturer that North Carolina recruited to the state, has broken ground on its planned headquarters and manufacturing facility in Greensboro. Why it matters: When JetZero agreed to an incentives deal with the state last year, it was the biggest jobs announcement on paper in North Carolina history, with JetZero <a class="gtmContentClick" data-vars-link-text="pledging up to 14,500 jobs" data-vars-click-url="https://www.axios.com/local/raleigh/2025/06/12/jetzero-jobs-north-carolina-greensboro-pti-manufacturing" data-vars-content-id="b2ca1a96-db43-42a9-9183-2ab274b06db5" data-vars-headline="JetZero breaks ground on North Carolina manufacturing site" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/06/12/jetzero-jobs-north-carolina-greensboro-pti-manufacturing" target="_self">pledging up to 14,500 jobs</a>. <ul><li>If it were to meet that lofty goal, JetZero could earn state incentives around $1 billion. </li></ul>

How Raleigh's First Citizens grew from a regional bank to national player

The Holding family has run Raleigh-based First Citizens Bank for three generations.

When Frank Holding Jr. took the helm at Raleigh&#x27;s First Citizens Bank in 2008, the country was in the midst of a financial crisis, and First Citizens was still essentially a &quot;large community bank,&quot; he said.Why it matters: In the years since, <a class="gtmContentClick" data-vars-link-text="First Citizens" data-vars-click-url="https://www.firstcitizens.com/" data-vars-content-id="f0078f17-27c4-4bdc-a7f4-8fc0972c8dee" data-vars-headline="How Raleigh&#x27;s First Citizens grew from a regional bank to national player" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.firstcitizens.com/" target="_blank">First Citizens</a> has transformed into a significant player on the national stage thanks to a series of acquisitions spearheaded by the <a class="gtmContentClick" data-vars-link-text="Holding family" data-vars-click-url="https://www.axios.com/local/raleigh/2025/04/02/north-carolinas-richest-residents-2025-forbes-billionaires" data-vars-content-id="f0078f17-27c4-4bdc-a7f4-8fc0972c8dee" data-vars-headline="How Raleigh&#x27;s First Citizens grew from a regional bank to national player" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/04/02/north-carolinas-richest-residents-2025-forbes-billionaires" target="_self">Holding family</a>, which has controlled the bank for generations.

North Carolina's first Buc-ee's breaks ground in Mebane

The Mebane travel center is set to open in 2027 with 120 gas pumps and 200 jobs.

<figure><img alt="Gif of people in hard hats and one wearing beaver costume shoveling dirt at a ceremonial groundbreaking. Behind them are excavators and a sign that says &quot;Buc-ee&#x27;s COMING SOON TO MEBANE.&quot;" height="450" id="32461d27-ffbb-45fc-b6db-6815b31fe21e" src="https://images.axios.com/y7jLNS3XvP04dpRMVFOvZs-YqRY=/2026/06/10/1781116013509.gif" width="800"/><figcaption>A ceremonial groundbreaking off I-40/85 at Exit 152. Photo: Mary Helen Moore/Axios</figcaption></figure>Construction has begun on North Carolina&#x27;s first Buc-ee&#x27;s travel center, a massive gas station and convenience store slated to open in Mebane in 2027.Why it matters: The <a class="gtmContentClick" data-vars-link-text="Texas gas station chain" data-vars-click-url="https://www.axios.com/2024/06/11/buc-ees-texas-luling-largest-travel-center" data-vars-content-id="3c471abf-8070-48dd-9ab6-9c71df34f800" data-vars-headline="North Carolina&#x27;s first Buc-ee&#x27;s breaks ground in Mebane" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2024/06/11/buc-ees-texas-luling-largest-travel-center" target="_self">Texas gas station chain</a> has built a devoted following since the 1980s, thanks to its beaver mascot merch, clean bathrooms and endless array of snacks.

Richmond bank wants naming rights for Raleigh Convention Center

Atlantic Union Bank is expanding its footprint in Raleigh.

Atlantic Union Bank, a <a class="gtmContentClick" data-vars-link-text="Richmond" data-vars-click-url="https://www.axios.com/local/richmond" data-vars-content-id="015ccff2-1e44-429a-ab01-bdd391a7d82a" data-vars-headline="Richmond bank wants naming rights for Raleigh Convention Center" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/richmond" target="_self">Richmond</a> bank <a class="gtmContentClick" data-vars-link-text="expanding in the Triangle" data-vars-click-url="https://www.bizjournals.com/triangle/news/2026/04/13/atlantic-union-bank-nc-raleigh-branch-expansion.html" data-vars-content-id="015ccff2-1e44-429a-ab01-bdd391a7d82a" data-vars-headline="Richmond bank wants naming rights for Raleigh Convention Center" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.bizjournals.com/triangle/news/2026/04/13/atlantic-union-bank-nc-raleigh-branch-expansion.html" target="_blank">expanding in the Triangle</a>, is bidding for the naming rights of the Raleigh Convention Center. Why it matters: The Raleigh City Council will hold a <a class="gtmContentClick" data-vars-link-text="public hearing" data-vars-click-url="https://raleighnc.gov/government/news/city-consider-naming-opportunity-convention-center" data-vars-content-id="015ccff2-1e44-429a-ab01-bdd391a7d82a" data-vars-headline="Richmond bank wants naming rights for Raleigh Convention Center" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://raleighnc.gov/government/news/city-consider-naming-opportunity-convention-center" target="_blank">public hearing</a> about it June 16, which could net the city more than half a million dollars annually for at least 15 years. Zoom in: The convention center&#x27;s new name would be Atlantic Union Bank Convention Center if the agreement is approved. <ul><li>Under the proposed deal, Atlantic Union Bank would keep the naming rights for 15 years, with a chance for two five-year extensions. </li><li>The proposed annual fee would be $525,000, with a 2% increase tacked on every year. </li></ul>

The Triangle has three companies on the Fortune 500 list

Raleigh's highest-ranked company on the list was the clinical research firm IQVIA

Three Triangle businesses landed on the <a class="gtmContentClick" data-vars-link-text="2026 Fortune 500 list" data-vars-click-url="https://fortune.com/ranking/fortune500/2026/" data-vars-content-id="b7fed918-f2a6-473b-9a52-13b4c9607dc9" data-vars-headline="The Triangle has three companies on the Fortune 500 list" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://fortune.com/ranking/fortune500/2026/" target="_blank">2026 Fortune 500 list</a>, which ranks the country&#x27;s largest companies by revenue, a number that was unchanged from last year.Why it matters: Fortune 500 companies tend to be major employers who bolster the local economy and help drive philanthropy and sponsorships.<ul><li>Historically, Raleigh has been home to the secondary offices of many of the country&#x27;s largest employers, while also hosting large private employers, like SAS Institute, or health systems and universities. </li></ul>

Local Limelight with Emily Coules of Dose Yoga + Cafe

Dose Yoga + Cafe has grown to three locations in the past four years.

The Triangle is currently in the midst of <a class="gtmContentClick" data-vars-link-text="fitness boom" data-vars-click-url="https://www.axios.com/local/raleigh/2026/04/29/fitness-studios-are-taking-over-the-triangles-downtowns" data-vars-content-id="a5fccdb0-34e5-48a4-a8a6-e98a245e1c84" data-vars-headline="Local Limelight with Emily Coules of Dose Yoga + Cafe" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2026/04/29/fitness-studios-are-taking-over-the-triangles-downtowns" target="_self">fitness boom</a>, and Raleigh entrepreneur Emily Coules is one of the leading forces behind it. Why it matters: In just a few short years, Coules&#x27; fitness studio <a class="gtmContentClick" data-vars-link-text="Dose Yoga + Cafe" data-vars-click-url="https://www.doseyogastudios.com/" data-vars-content-id="a5fccdb0-34e5-48a4-a8a6-e98a245e1c84" data-vars-headline="Local Limelight with Emily Coules of Dose Yoga + Cafe" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.doseyogastudios.com/" target="_blank">Dose Yoga + Cafe</a> — known equally for its hot yoga classes as well as its smoothie bar — has expanded to three locations in downtown Raleigh, North Hills and Durham.

Business 🏦

North Carolina lawmakers rush to rewrite hemp legislation

Construction to begin on Forge Nano's stalled battery plant in Morrisville

Downtown Raleigh businesses fret over parking deck's future

Lumbee tribal voters reject casino despite I-95 land deal

Merck acquires Raleigh-based Targan and its poultry tech