Local Community Development Corporations

Friday, November 18, 2011

2-Story H&M Opens at Mall, Tengion Consolidates R&D, Caterpillar Plant's Grand Opening


H&M, the popular European (Swedish) retailer which sells popular fashions at reasonable rates, opened its second store in North Carolina at Hanes Mall on Thursday, November 17th.  The first H&M store opened in Raleigh in March 2010.

Financial struggles have forced Tengion, the PA-based regenerative medicine company that commercializes Dr. Anthony Atala's research, to cut its workforce by 58% (30 employees).  On the bright side for Winston-Salem, it is also consolidating R&D here at its space in the Piedmont Triad Research Park.

Finally, Caterpillar celebrated its grand opening of the Winston-Salem plant on Wednesday, November 16th.  The plant won't reach full capacity until 2014.  Pictures of the event - and the inside of the plant - can be found here from the Triad Business Journal.

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