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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>

Why one of North Carolina's top school districts is eyeing closures

CHCCS is considered one of the best school districts in the state, but enrollment is declining.

The board of Chapel Hill-Carrboro City Schools could close up to two elementary schools as the district grapples with <a class="gtmContentClick" data-vars-link-text="declining enrollment" data-vars-click-url="https://www.axios.com/local/raleigh/2025/12/16/leandro-school-funding-lawsuit-in-limbo-north-carolina-charter-public-private-education" data-vars-content-id="1dc1b59c-b8b9-4b64-9b46-107d3ab248c1" data-vars-headline="Why one of North Carolina&#x27;s top school districts is eyeing closures" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/12/16/leandro-school-funding-lawsuit-in-limbo-north-carolina-charter-public-private-education" target="_self">declining enrollment</a> and budget shortfalls.Why it matters: CHCCS is considered <a class="gtmContentClick" data-vars-link-text="one" data-vars-click-url="https://www.newsobserver.com/news/local/education/article195097919.html" data-vars-content-id="1dc1b59c-b8b9-4b64-9b46-107d3ab248c1" data-vars-headline="Why one of North Carolina&#x27;s top school districts is eyeing closures" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.newsobserver.com/news/local/education/article195097919.html" target="_blank">one</a> of North Carolina&#x27;s <a class="gtmContentClick" data-vars-link-text="best" data-vars-click-url="https://www.niche.com/k12/d/chapel-hill-carrboro-city-schools-nc/rankings/" data-vars-content-id="1dc1b59c-b8b9-4b64-9b46-107d3ab248c1" data-vars-headline="Why one of North Carolina&#x27;s top school districts is eyeing closures" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.niche.com/k12/d/chapel-hill-carrboro-city-schools-nc/rankings/" target="_blank">best</a> school districts. But its academic excellence doesn&#x27;t shield it from some of the same headwinds facing public school districts nationwide. <ul><li>School officials say closing a few aging facilities can help the district right-size itself to suit its current student population.</li></ul>

North Carolina astronaut will see Earth like no human has before

Christina Koch grew up in North Carolina and went to college at N.C. State.

Aerospace

Christina Koch, an astronaut <a class="gtmContentClick" data-vars-link-text="raised in North Carolina" data-vars-click-url="https://www.axios.com/local/raleigh/2023/04/03/north-carolina-astronaut-christina-koch-lands-moon-mission" data-vars-content-id="bca5e5e2-1f51-440d-a98f-7be4e7837597" data-vars-headline="North Carolina astronaut will see Earth like no human has before" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2023/04/03/north-carolina-astronaut-christina-koch-lands-moon-mission" target="_self">raised in North Carolina</a> and educated in the state&#x27;s public schools, is set to fly around the Moon as soon as next month. Why it matters: NASA&#x27;s <a class="gtmContentClick" data-vars-link-text="Artemis II mission" data-vars-click-url="https://www.axios.com/local/huntsville/2026/01/22/huntsville-artemis-ii-nasa-marshall-sls-hls-lunar-mission" data-vars-content-id="bca5e5e2-1f51-440d-a98f-7be4e7837597" data-vars-headline="North Carolina astronaut will see Earth like no human has before" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/huntsville/2026/01/22/huntsville-artemis-ii-nasa-marshall-sls-hls-lunar-mission" target="_self">Artemis II mission</a> marks a new era of space exploration, one that envisions a long-term presence on the Moon and trips to Mars.<ul><li>The spaceflight will provide Koch, a noted photographer, and the rest of the crew with a perspective no human has ever seen.</li></ul>

UNC advances Carolina North plan, but Dean Dome's future is uncertain

The university has held acreage north of campus for decades, and is finally ready to start building.

Education

The leadership of UNC-Chapel Hill is moving forward with plans to develop the Carolina North campus, significantly expanding the university&#x27;s footprint across the town of Chapel Hill. <ul><li>The goal is to break ground on the expansion in 2027 and hopefully line up its opening with the creation of a <a class="gtmContentClick" data-vars-link-text="new bus rapid transit route" data-vars-click-url="https://www.axios.com/local/raleigh/2024/03/13/bus-rapid-transit-momentum-picks-up-in-chapel-hill-raleigh" data-vars-content-id="db06343c-d5e8-45b3-a9e9-6f8dce79ce7f" data-vars-headline="UNC advances Carolina North plan, but Dean Dome&#x27;s future is uncertain" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2024/03/13/bus-rapid-transit-momentum-picks-up-in-chapel-hill-raleigh" target="_self">new bus rapid transit route</a> along Martin Luther King Jr. Boulevard, UNC Chancellor Lee Roberts told the university&#x27;s board of trustees on Wednesday.</li></ul>Why it matters: <a class="gtmContentClick" data-vars-link-text="Carolina North" data-vars-click-url="https://facilities.unc.edu/master-plan/carolina-north/" data-vars-content-id="db06343c-d5e8-45b3-a9e9-6f8dce79ce7f" data-vars-headline="UNC advances Carolina North plan, but Dean Dome&#x27;s future is uncertain" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://facilities.unc.edu/master-plan/carolina-north/" target="_blank">Carolina North</a>, located at the site of the former Horace Williams Airport, has been a top priority for Roberts, who co-founded a <a class="gtmContentClick" data-vars-link-text="private-equity firm that operates real estate funds" data-vars-click-url="https://sharpvuecapital.com/" data-vars-content-id="db06343c-d5e8-45b3-a9e9-6f8dce79ce7f" data-vars-headline="UNC advances Carolina North plan, but Dean Dome&#x27;s future is uncertain" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://sharpvuecapital.com/" target="_blank">private-equity firm that operates real estate funds</a>, since he took on the role in 2024.<ul><li>The university views the land as a solution to several concerns: as a site for housing for <a class="gtmContentClick" data-vars-link-text="growing the student body" data-vars-click-url="https://fo.unc.edu/news/2025/08/27/the-finance-and-operations-teams-behind-uncs-enrollment-expansion-supporting-500-new-students/" data-vars-content-id="db06343c-d5e8-45b3-a9e9-6f8dce79ce7f" data-vars-headline="UNC advances Carolina North plan, but Dean Dome&#x27;s future is uncertain" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://fo.unc.edu/news/2025/08/27/the-finance-and-operations-teams-behind-uncs-enrollment-expansion-supporting-500-new-students/" target="_blank">growing the student body</a> to match the <a class="gtmContentClick" data-vars-link-text="state&#x27;s growing population" data-vars-click-url="https://www.axios.com/local/raleigh/2025/03/03/north-carolina-population-growth-2030" data-vars-content-id="db06343c-d5e8-45b3-a9e9-6f8dce79ce7f" data-vars-headline="UNC advances Carolina North plan, but Dean Dome&#x27;s future is uncertain" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/03/03/north-carolina-population-growth-2030" target="_self">state&#x27;s growing population</a>, a place for affordable housing in an expensive town, the home of a future engineering school, and more space for research. </li></ul>

Another year passes with the Leandro school funding lawsuit in limbo

The Leandro lawsuit dates back to 1994, when school districts sued the state over inadequate resources.

The North Carolina Supreme Court has, once again, not made a ruling in the state&#x27;s landmark <a class="gtmContentClick" data-vars-link-text="Leandro" data-vars-click-url="https://www.axios.com/local/charlotte/2022/11/14/a-massive-education-plan-that-could-transform-cms-hangs-in-the-balance-313318" data-vars-content-id="17c44617-9728-428f-b3db-bcf9d1cb9a4a" data-vars-headline="Another year passes with the Leandro school funding lawsuit in limbo" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/charlotte/2022/11/14/a-massive-education-plan-that-could-transform-cms-hangs-in-the-balance-313318" target="_self">Leandro</a> school funding lawsuit, leaving its outcome in limbo. Why it matters: It&#x27;s been 663 days since justices on the Republican-majority Supreme Court have heard oral arguments in Leandro v. North Carolina, a case that could have billions of dollars on the line for public schools in the state.

Lawmakers grill Chapel Hill-Carrboro school officials on Parents' Bill of Rights compliance

The hearing came after comments from Chapel Hill-Carrboro school district board went viral.

Officials from the Chapel Hill-Carrboro City Schools told lawmakers they&#x27;re complying with the state&#x27;s &quot;<a class="gtmContentClick" data-vars-link-text="Parents&#x27; Bill of Rights" data-vars-click-url="https://www.ednc.org/2023-02-07-senate-passes-parents-bill-of-rights/" data-vars-content-id="45602705-b3c6-41e8-9dc4-f4353e81ecf7" data-vars-headline="Lawmakers grill Chapel Hill-Carrboro school officials on Parents&#x27; Bill of Rights compliance" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.ednc.org/2023-02-07-senate-passes-parents-bill-of-rights/" target="_blank">Parents&#x27; Bill of Rights</a>,&quot; even after Republican legislators during a hearing in Raleigh on Wednesday questioned earlier resistance to parts of the law.Why it matters: <a class="gtmContentClick" data-vars-link-text="Like several Republican-led states" data-vars-click-url="https://www.axios.com/local/raleigh/2022/05/25/north-carolina-bill-parent-education-involvement" data-vars-content-id="45602705-b3c6-41e8-9dc4-f4353e81ecf7" data-vars-headline="Lawmakers grill Chapel Hill-Carrboro school officials on Parents&#x27; Bill of Rights compliance" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2022/05/25/north-carolina-bill-parent-education-involvement" target="_self">Like several Republican-led states</a>, North Carolina passed a law in 2023 more strictly defining how parents are involved with students&#x27; education and health, such as a requirement that staff notify parents if a student changes their name or pronoun in a classroom. <ul><li>It also banned instruction about gender identity or sexuality in kindergarten through fourth grade. </li></ul>

Grad school cuts are shrinking Ph.D. enrollment at Duke

Duke University made deep cuts, while N.C. State and UNC-Chapel Hill kept growing.

This fall, a large drop in Ph.D. student enrollment at Duke University is causing the number of doctoral students conducting research at the Research Triangle&#x27;s pillar institutions to shrink.Why it matters: Uncertainty over <a class="gtmContentClick" data-vars-link-text="federal spending on scientific research" data-vars-click-url="https://www.axios.com/local/raleigh/2025/04/11/nih-cuts-would-hurt-raleigh-durham-wake-orange" data-vars-content-id="b33ccc33-4cc6-40c1-b738-673d03b9f2d8" data-vars-headline="Grad school cuts are shrinking Ph.D. enrollment at Duke" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/04/11/nih-cuts-would-hurt-raleigh-durham-wake-orange" target="_self">federal spending on scientific research</a> drove speculation that fewer Ph.D.s would be admitted in 2025.<ul><li>Those fears proved true for <a class="gtmContentClick" data-vars-link-text="Ivy League institutions" data-vars-click-url="https://www.axios.com/2025/10/26/phd-universities-science-technology-progress" data-vars-content-id="b33ccc33-4cc6-40c1-b738-673d03b9f2d8" data-vars-headline="Grad school cuts are shrinking Ph.D. enrollment at Duke" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2025/10/26/phd-universities-science-technology-progress" target="_self">Ivy League institutions</a> and their peers like Duke, so the relative stability of large schools like UNC-Chapel Hill and N.C. State may make them more attractive landing spots for students.</li></ul>

N.C. State sues Monsanto over toxic Poe Hall chemicals

N.C. State alleges that Monsanto marketed PCBs as non-toxic, despite knowing they were.

N.C. State University is suing the chemical maker Monsanto over <a class="gtmContentClick" data-vars-link-text="building materials used" data-vars-click-url="https://www.axios.com/local/raleigh/2024/06/24/nc-state-poe-hall-renovation-pcbs-testing-cancer" data-vars-content-id="dfc11e21-89a9-4d58-8f00-0b4cd64f4276" data-vars-headline="N.C. State sues Monsanto over toxic Poe Hall chemicals" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2024/06/24/nc-state-poe-hall-renovation-pcbs-testing-cancer" target="_self">building materials used</a> in the construction of Poe Hall on its campus in 1971. Why it matters: Poe Hall — home to the university&#x27;s education department — has been shuttered since 2023, after high levels of polychlorinated biphenyls (PCBs) were found. More than 200 people who worked or studied in the building have <a class="gtmContentClick" data-vars-link-text="reportedly" data-vars-click-url="https://www.wral.com/consumer/5onyourside/225-cancer-cases-poe-hall-nc-state-april-2025/" data-vars-content-id="dfc11e21-89a9-4d58-8f00-0b4cd64f4276" data-vars-headline="N.C. State sues Monsanto over toxic Poe Hall chemicals" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.wral.com/consumer/5onyourside/225-cancer-cases-poe-hall-nc-state-april-2025/" target="_blank">reportedly</a> developed cancer.

Local Limelight with Jim Pfaendtner, dean of N.C. State's engineering school

Jim Pfaendtner, who came to NC State in 2023, leads more than 12,000 engineering students

When <a class="gtmContentClick" data-vars-link-text="Jim Pfaendtner" data-vars-click-url="https://engr.ncsu.edu/about/welcome/bio/" data-vars-content-id="c86b13b7-64fe-499f-84e8-b0006adb6a29" data-vars-headline="Local Limelight with Jim Pfaendtner, dean of N.C. State&#x27;s engineering school" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://engr.ncsu.edu/about/welcome/bio/" target="_blank">Jim Pfaendtner</a> was a high schooler in Michigan, he attended a summer camp at Georgia Tech for engineering. <ul><li>There, the head of the school&#x27;s chemical engineering department gave the visiting students a speech, telling them about how hard the classes would be but also about how ultimately rewarding their careers could turn out. </li></ul>Why it matters: The speech, or perhaps challenge, won over the competitive young Pfaendtner immediately. It&#x27;s a moment that set him on course to eventually become dean of N.C. State&#x27;s College of Engineering, where he has led more than 12,000 students since 2023.

Trump administration releases portion of frozen North Carolina education funding

The U.S. Department of Education has released a portion of the North Carolina $165 million in education funding frozen by the Trump administration.

The U.S. Department of Education has released a portion of North Carolina&#x27;s <a class="gtmContentClick" data-vars-link-text="$165 million in education funding frozen" data-vars-click-url="https://www.axios.com/local/raleigh/2025/07/15/north-carolina-sues-over-withheld-education-funding" data-vars-content-id="10825271-a499-4efa-9eba-26790cf65a7a" data-vars-headline="Trump administration releases portion of frozen North Carolina education funding" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/07/15/north-carolina-sues-over-withheld-education-funding" target="_self">$165 million in education funding frozen</a> by the Trump administration, the state&#x27;s education department announced Monday night. Why it matters: The nearly $36 million in funding released will allow North Carolina&#x27;s after-school and summer programs to continue operating. <ul><li>The programs, which served more than 10,000 K-12 students last year, &quot;provide critical academic support and safe environments for students, particularly those in high-poverty areas,&quot; North Carolina&#x27;s Department of Public Instruction said in a statement. </li></ul>

Education 📚

The Triangle's college grad boom

Why one of North Carolina's top school districts is eyeing closures

North Carolina astronaut will see Earth like no human has before

UNC advances Carolina North plan, but Dean Dome's future is uncertain

Charlotte educators laud North Carolina's cell phone ban