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Why young North Carolina entrepreneurs are buying up Boomer businesses

In North Carolina and beyond, young entrepreneurs are buying up small businesses from founders nearing retirement.

Business

Rob Belk, 35, grew up in <a class="gtmContentClick" data-vars-link-text="Charlotte" data-vars-click-url="https://www.axios.com/local/charlotte" data-vars-content-id="7a6faaac-45d5-40be-af90-2649b31e3c01" data-vars-headline="Why young North Carolina entrepreneurs are buying up Boomer businesses" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/charlotte" target="_self">Charlotte</a>, selling ladies&#x27; shoes at the SouthPark mall Belk, his family&#x27;s eponymous department store — a grind that instilled in him an entrepreneurial bug. Earlier this year, he purchased Sales Factory, a Greensboro marketing and insights agency that&#x27;s been around since 1984.Why it matters: In North Carolina and beyond, young entrepreneurs are buying up small businesses from founders nearing retirement — part of a phenomenon dubbed the &quot;<a class="gtmContentClick" data-vars-link-text="silver tsunami" data-vars-click-url="https://www.axios.com/2025/11/29/retirement-crisis-social-security-2026" data-vars-content-id="7a6faaac-45d5-40be-af90-2649b31e3c01" data-vars-headline="Why young North Carolina entrepreneurs are buying up Boomer businesses" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2025/11/29/retirement-crisis-social-security-2026" target="_self">silver tsunami</a>&quot; that&#x27;s resulting in a massive transfer of wealth.

North Carolina Democrats push for early 2028 primary

North Carolina is one of 12 states allowed to bid to be one of the first primary states in 2028.

Politics

North Carolina Democrats are lobbying to make the state one of the first presidential primary contests in 2028, arguing the state reflects the rest of the U.S., given its growing and diverse <a class="gtmContentClick" data-vars-link-text="population" data-vars-click-url="https://www.axios.com/local/raleigh/2026/01/29/north-carolina-kept-growing-last-year-despite-immigration-slowdown" data-vars-content-id="3aa3de09-b521-4564-befe-543e59dd7aa1" data-vars-headline="North Carolina Democrats push for early 2028 primary" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2026/01/29/north-carolina-kept-growing-last-year-despite-immigration-slowdown" target="_self">population</a>.Why it matters: If selected, North Carolina could hold a large influence over which candidate ultimately secures the nomination. It could also attract tens of millions of dollars of investments into statewide campaigns.

The Triangle's college grad boom

The Triangle's universities continue to power the region's growth

News

The Triangle has been one of the leading regions for adding residents with college degrees since the pandemic, a new <a class="gtmContentClick" data-vars-link-text="report" data-vars-click-url="https://www.census.gov/newsroom/press-releases/2026/acs-5-year-gains-educational-attainment.html" data-vars-content-id="49637436-34a4-46c4-b872-bb6949543d3e" data-vars-headline="The Triangle&#x27;s college grad boom" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.census.gov/newsroom/press-releases/2026/acs-5-year-gains-educational-attainment.html" target="_blank">report</a> from the U.S. Census Bureau finds. Why it matters: The Triangle has long prided itself on how much talent its universities produce, helping make the region one of the biggest areas for job growth <a class="gtmContentClick" data-vars-link-text="over the past decade" data-vars-click-url="https://www.cnbc.com/2025/08/03/the-top-10-us-cities-for-job-opportunities-and-earning-potential-according-to-new-report.html" data-vars-content-id="49637436-34a4-46c4-b872-bb6949543d3e" data-vars-headline="The Triangle&#x27;s college grad boom" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.cnbc.com/2025/08/03/the-top-10-us-cities-for-job-opportunities-and-earning-potential-according-to-new-report.html" target="_blank">over the past decade</a>.

Chapel Hill businesses still dealing with effects of tropical storm flooding

Renovations are ongoing at many businesses, while others have closed completely.

More than seven months after <a class="gtmContentClick" data-vars-link-text="Tropical Storm Chantal" data-vars-click-url="https://www.axios.com/2025/07/07/tropical-storm-chantal-north-south-carolina-flood" data-vars-content-id="1cc3490d-4976-4d4f-a3fa-bca1c4e5b2b0" data-vars-headline="Chapel Hill businesses still dealing with effects of tropical storm flooding" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2025/07/07/tropical-storm-chantal-north-south-carolina-flood" target="_self">Tropical Storm Chantal</a> significantly flooded parts of Chapel Hill, businesses at the popular Eastgate Crossing shopping center are still working to clean up the mess.Why it matters: The lingering effects of Chantal, which dumped more than 7 inches of rain in 12 hours, have shown just how damaging <a class="gtmContentClick" data-vars-link-text="fast-forming tropical storms" data-vars-click-url="https://www.axios.com/local/raleigh/2025/07/07/tropical-storm-chantal-tropical-weather-triangle-north-carolina-carrboro-chapel-hill-durham" data-vars-content-id="1cc3490d-4976-4d4f-a3fa-bca1c4e5b2b0" data-vars-headline="Chapel Hill businesses still dealing with effects of tropical storm flooding" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/07/07/tropical-storm-chantal-tropical-weather-triangle-north-carolina-carrboro-chapel-hill-durham" target="_self">fast-forming tropical storms</a> can be amid intensifying climate change.<ul><li>Chantal caused <a class="gtmContentClick" data-vars-link-text="more than $56 million worth of damage" data-vars-click-url="https://www.newsobserver.com/news/local/counties/orange-county/article310619555.html" data-vars-content-id="1cc3490d-4976-4d4f-a3fa-bca1c4e5b2b0" data-vars-headline="Chapel Hill businesses still dealing with effects of tropical storm flooding" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.newsobserver.com/news/local/counties/orange-county/article310619555.html" target="_blank">more than $56 million worth of damage</a> in Orange County, much of that at Eastgate Crossing. </li></ul>

Cold stuns fish on North Carolina coast

Unusually cold temperatures are killing fish and triggering a harvest ban.

Climate

The North Carolina Division of Marine Fisheries is closing the season on <a class="gtmContentClick" data-vars-link-text="spotted seatrout" data-vars-click-url="https://www.axios.com/local/raleigh/2025/11/26/north-carolina-recreational-fishing-flounder-red-drum-striped-bass-spotted-trout" data-vars-content-id="ba9cbf0a-f7a5-4390-86f0-dde42043a89c" data-vars-headline="Cold stuns fish on North Carolina coast" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/11/26/north-carolina-recreational-fishing-flounder-red-drum-striped-bass-spotted-trout" target="_self">spotted seatrout</a> because so many of the fish are dying from the cold.Why it matters: The recent stretch of unusually frigid temperatures is having an impact on wildlife throughout the South, especially fish and reptiles.

Triangle's first major snowstorm in years expected this weekend

Snowfall will vary by location, but all of North Carolina will see freezing temps and strong winds.

Forecasters believe central North Carolina will get more snow this weekend than it has in years.Why it matters: The National Weather Service in Raleigh says most models are calling for 5 to 10 inches of snowfall — which in some places will coat ice stubbornly lingering from <a class="gtmContentClick" data-vars-link-text="last weekend&#x27;s winter storm" data-vars-click-url="https://www.axios.com/local/raleigh/2026/01/26/raleigh-winter-storm-forecast-vs-reality-ice-sleet" data-vars-content-id="5d116d31-50ba-490f-91a5-6cfb64fba93b" data-vars-headline="Triangle&#x27;s first major snowstorm in years expected this weekend" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2026/01/26/raleigh-winter-storm-forecast-vs-reality-ice-sleet" target="_self">last weekend&#x27;s winter storm</a>.

How Duke Energy plans to keep outages from happening on the coldest nights of the year

Temperatures in the teens this week will put a strain on the grid

Duke Energy&#x27;s power infrastructure kept the lights on without major disruptions for most of central North Carolina during a <a class="gtmContentClick" data-vars-link-text="sleet storm" data-vars-click-url="https://www.axios.com/local/raleigh/2026/01/22/triangle-north-carolina-ice-storm-threat-latest-forecast" data-vars-content-id="fb1a5f52-0da7-4da2-9919-da400ea95317" data-vars-headline="How Duke Energy plans to keep outages from happening on the coldest nights of the year" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2026/01/22/triangle-north-carolina-ice-storm-threat-latest-forecast" target="_self">sleet storm</a> over the weekend. Why it matters: But the system will continue to be tested by some of the coldest temperatures we have seen this winter, with lows in the teens nearly every night this week.

Why Raleigh dodged the worst of the winter storm

Forecasts warned of widespread ice accumulation — but stubborn cold air favored sleet over freezing rain.

Last weekend&#x27;s winter storm fell short of <a class="gtmContentClick" data-vars-link-text="dire forecasts" data-vars-click-url="https://www.axios.com/local/raleigh/2026/01/22/triangle-north-carolina-ice-storm-threat-latest-forecast" data-vars-content-id="cb7dce32-e395-4622-b08f-676156cb9419" data-vars-headline="Why Raleigh dodged the worst of the winter storm" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2026/01/22/triangle-north-carolina-ice-storm-threat-latest-forecast" target="_self">dire forecasts</a> in Raleigh, sparing the region from the widespread ice damage and <a class="gtmContentClick" data-vars-link-text="power outages" data-vars-click-url="https://www.axios.com/2026/01/25/electricity-grid-holding-up-storm-demand" data-vars-content-id="cb7dce32-e395-4622-b08f-676156cb9419" data-vars-headline="Why Raleigh dodged the worst of the winter storm" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2026/01/25/electricity-grid-holding-up-storm-demand" target="_self">power outages</a> many feared.Why it matters: Dodging the worst-case scenario this time may undercut urgency ahead of the next winter storm — when the region might not be as lucky.

Ice threat rises for Triangle in winter storm's latest forecasts

Ice accumulation could lead to downed trees and power outages across the region.

Snow chances in North Carolina&#x27;s Triangle have faded as the risk of sleet and freezing rain rises sharply.Why it matters: Ice accumulation is expected to cause <a class="gtmContentClick" data-vars-link-text="major disruptions" data-vars-click-url="https://www.axios.com/local/raleigh/2026/01/20/prepare-power-outages-winter-storm-triangle-north-carolina-snow-sleet-ice" data-vars-content-id="7ffd483a-6e26-42af-8660-d80d6c883ccf" data-vars-headline="Ice threat rises for Triangle in winter storm&#x27;s latest forecasts" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2026/01/20/prepare-power-outages-winter-storm-triangle-north-carolina-snow-sleet-ice" target="_self">major disruptions</a> across the region, making roads dangerous and potentially triggering widespread power outages.

Prepare for power outages ahead of winter storm this weekend in the Triangle

Forecasts are still uncertain but point to a high likelihood of a winter storm this weekend

The National Weather Service&#x27;s Raleigh office is warning central North Carolina residents to gear up for a potential major winter storm this weekend. Why it matters: Though the forecast remains fluid, the storm could bring dangerous cold weather, a mixture of snow and sleet, and potential power outages throughout the region.

Duke Energy files first application for new North Carolina nuclear facility

There hasn't been a new nuclear plant built in North Carolina in decades.

Duke Energy has submitted its first site application with the U.S. Nuclear Regulatory Commission for a new nuclear reactor in North Carolina. Why it matters: North Carolina has not opened a new nuclear reactor since the 1980s, and the addition of one is a key leg of Duke Energy&#x27;s plans to <a class="gtmContentClick" data-vars-link-text="hit net-zero carbon emissions by 2050" data-vars-click-url="https://www.axios.com/local/raleigh/2025/10/01/duke-energy-plan-will-delay-coal-retirements-and-study-more-nuclear-plants" data-vars-content-id="88534fbd-8a7a-4771-a61d-5d02ed76570d" data-vars-headline="Duke Energy files first application for new North Carolina nuclear facility" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/10/01/duke-energy-plan-will-delay-coal-retirements-and-study-more-nuclear-plants" target="_self">hit net-zero carbon emissions by 2050</a> under an agreement with the state.

The quest to plant 50,000 trees across the Triangle

Between 2010 and 2020, Wake County alone lost more than 11,000 acres of tree canopy.

Raleigh has long been known as the City of Oaks, but the region&#x27;s fast-paced growth is threatening the lush canopy of trees that gave the city its nickname.

Duke Energy plan will delay coal retirements and study more nuclear plants

The plan comes after the state gave Duke Energy a longer timeline to reduce carbon emissions.

Duke Energy plans to meet surging demand for energy in the Carolinas by increasing its natural gas capacity, delaying the closures of some coal plants and evaluating two sites for nuclear power, according to a new plan filed with the state. <ul><li>At the same time, however, the rate at which it plans to acquire more solar energy capacity is slowing, and it has shelved plans for offshore wind at least through 2040. </li></ul>Why it matters: Duke is seeking to balance a surge in demand for energy with a measured response to new federal and <a class="gtmContentClick" data-vars-link-text="state policy" data-vars-click-url="https://www.axios.com/local/raleigh/2025/07/29/governor-josh-stein-vetoes-overriden-duke-energy-guns-north-carolina" data-vars-content-id="3a76188f-450c-45e8-8e48-e3de4c8417bd" data-vars-headline="Duke Energy plan will delay coal retirements and study more nuclear plants" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/07/29/governor-josh-stein-vetoes-overriden-duke-energy-guns-north-carolina" target="_self">state policy</a>. But some environmental groups are criticizing the Charlotte-based utility for moving away from a low-carbon energy mix.

Climate 🌿

Chapel Hill businesses still dealing with effects of tropical storm flooding

Cold stuns fish on North Carolina coast

Triangle's first major snowstorm in years expected this weekend

How Duke Energy plans to keep outages from happening on the coldest nights of the year

Why Raleigh dodged the worst of the winter storm