AGP Executive Report

G20 in Asheville: Finance ministers and central bank governors are meeting in the Blue Ridge city as the U.S. pushes growth, trade-imbalance fixes, and tougher economic pressure on Iran—while the renewed U.S.-Iran flare-up keeps markets jumpy. Iran sanctions push: Treasury Secretary Scott Bessent says the administration plans fresh sanctions on another bank this week to clamp down on Iran transactions, warning it could be “financial violence” if needed. AI risk to markets: Bank of England Gov. Andrew Bailey tells G20 leaders that frontier AI could speed up cyberattacks and trigger a disorderly global market correction if the AI boom unwinds. Local business & travel: Craven County tourism spending hit about $189M in 2025, and airport upgrades could expand future visitor growth. Food safety: FDA expanded a recall of 27,000+ packages of Lundberg white jasmine rice sold at major retailers, including Walmart and Target, over possible contamination. UNC China ties: UNC ended its study-abroad program with Fudan University “out of an abundance of caution” after a DoD national-security review. Scam watch: BBB Scam Tracker ranks Sylva tied for 123rd in July among NC cities with at least one report. Energy resilience: The U.S. Army plans nuclear microreactors at five bases, including Fort Bragg in North Carolina, in a $2.2B energy push.

G20 in Asheville: U.S. Treasury Secretary Scott Bessent is in North Carolina this week trying to calm bond-market jitters and push G20 partners to cut trade imbalances and tighten Iran-related business ties—while tariffs and the Iran war keep the room tense. AI infrastructure jobs: Corning says it’s ramping optical-fiber production for the AI data-center boom, partnering with Nvidia on new facilities in North Carolina and Texas that could add 3,000+ jobs. Data-center power costs hit politics: Former Gov. Roy Cooper is pitching a “make stuff cost less” message aimed at making data centers pay for their own power as the state debates how expansion affects electricity rates. Election access fight: A U.S. Postal Service rule sought by the Trump administration could make mail voting harder or impossible in some places, with lawsuits in play. Local business impact: The North Carolina State Fair is ending Al’s French Fries’ 70-year run after changing how food vendors are charged. Public health alert: Rabies was found in baby goats at a mobile petting zoo in Iredell County, prompting exposure warnings. Energy prices: GasBuddy reports show midgrade and E85 prices in parts of the Triangle and across counties remain volatile, tied to global oil and refinery conditions.

G20 Pressure on Iran: U.S. Treasury Secretary Scott Bessent is set to push G20 countries to isolate Iran’s economy during the Asheville finance meetings, warning that doing business with Iran could mean getting cut off from the U.S. dollar system. Global Markets Tension: European central bankers are reportedly uneasy after U.S. Treasury moves tied to yen and borrowing costs, fearing more disruption in already strained U.S.-Europe relations. Rabies Alert in NC: Health officials say baby goats at a Harmony mobile petting zoo tested positive for rabies; people who had close contact at listed events from late July to Aug. 27 are being told to contact local health departments about possible preventive treatment. Meta Child-Safety Settlement: North Carolina is expected to receive up to $645M from Meta as part of a landmark child-safety deal, with default limits for teens and new protections for kids under 13. Local Fraud Watch: BBB Scam Tracker data shows multiple NC cities tied near the bottom of the state list for July reports, including Glenville, La Grange, Mount Gilead, and Chocowinity. Business Growth in Pitt County: Winterville Machine Works is expanding with a $100,000 state Building Reuse grant, aiming to add nine jobs. RDU Travel Deals: Raleigh-Durham International Airport is climbing into top rankings for international flight deals, signaling more affordable options for travelers beyond traditional hubs.

Cybercrime & Courts: The FBI and DOJ say two Nigerian men, Adebola Festus Adekunle and Mudasiru Afeez Olawale, have been extradited to the U.S. to face sextortion charges tied to minors’ deaths, including allegations of coercion, extortion, and child sexual abuse material. Public Health: Health officials are urging anyone who had contact with baby goats at a mobile petting zoo in western North Carolina to seek a rabies risk assessment after several animals tested positive; the goats were euthanized. Consumer Fraud Watch: BBB Scam Tracker data puts Iron Station tied for 123rd among NC cities after one scam report in July, as the FTC notes fraud losses topped $12.5B in 2024. Healthcare Safety: B. Braun and Baxter recalled certain 0.9% sodium chloride IV bags after particulate contamination concerns. Local Economy/Business: Visit North Carolina won a U.S. Travel Association award for its “Ski Florida” campaign, steering travelers from Florida to Western NC after Helene. Policy & Politics: Asheville is hosting G20 Finance Track meetings at the Grove Park Inn, with protesters criticizing the event’s role in wealth concentration and Helene recovery gaps. Sports Betting (Week 0): Multiple books and prediction-market platforms are pushing new-user promos for UNC vs. TCU in Dublin, with Kalshi, Polymarket, and others offering sign-up bonuses.

Pharma Expansion: Roche/Genentech says it’s “raised the final beam” on a new $2B manufacturing facility in Holly Springs and will also invest $750M to double its Hillsboro, Oregon plant, expanding U.S. end-to-end filling capacity. Global Finance & Trade: India’s Finance Minister Nirmala Sitharaman landed in the U.S. for a six-day run that includes G20 Finance meetings in Asheville and talks with CEOs and investors on building manufacturing and innovation partnerships. Local Economy & Jobs: Great Southern Wood plans a $40M lumber treatment facility in Scotland County near Laurinburg, creating 43 jobs and adding to North Carolina’s forestry manufacturing base. Health Funding: UNC Chapel Hill won a $13M PCORI award over five years to test symptom-management approaches for rare cholestatic liver diseases. Public Safety: Baxter issued multiple nationwide IV recalls tied to possible fiberglass or stainless-steel particles, reaching 17 states. Weather/Water: Rain eased drought in parts of North Carolina, but most counties remain in drought, including extreme conditions in some areas. Food Safety: A cyclosporiasis outbreak linked to recalled lettuce has expanded to more states, with CDC reporting thousands of cases nationwide.

Air Quality Watch: NCDEQ’s Division of Air Quality added extra monitoring and emissions testing to final permits for Amazon and Duke Energy projects in Richmond County, after public concern over backup and “bridge power” engines. Data Center Backlash: Cary approved a temporary pause on large data center development to write new rules on water, electricity, noise and land use—joining other NC communities that have slowed or paused projects. Local Permitting & Power: Halifax County residents questioned “Project Q,” a proposed Quiet Data Centers development, raising issues about electricity, water, noise, jobs, and why details came late. Food Safety: A lettuce-linked cyclosporiasis outbreak has surged, with the FDA classing a Taylor Farms recall as the highest risk level and reporting record nationwide cases. Healthcare Recall: Baxter recalled certain IV saline and other solutions over possible fiberglass/stainless steel contamination, including distribution to North Carolina. Real Estate Demand: Realtor.com data shows more home shoppers are viewing listings outside their home metros, driven by affordability and job opportunities. Sports & Business Culture: UNC and TCU kick off the season in Dublin, with athletics leaders pitching the trip as a broader business and academic opportunity for North Carolina. Community & Safety: Winterville’s Watermelon festival rides were shut down after state inspection requirements weren’t met, then replaced by another operator.

G20 in Asheville: U.S. Treasury plans to use next week’s G20 finance meeting in North Carolina to push growth, tackle trade imbalances and sovereign debt, while also pressing countries to cut remaining economic ties with Iran under expanded secondary-sanctions threats. Local economy & tourism: Chatham County ranked No. 4 statewide for visitor-spending growth in 2025, with tourism spending up 8.9% to support local marketing and jobs. Energy & defense: The U.S. Army is moving ahead with its Janus nuclear microreactor push, selecting five companies and placing early projects at Fort Bragg (NC) and other bases, aiming for more resilient power. Business & courts: Shoals won a federal jury verdict awarding more than $96M in its patent dispute with Voltage Energy, with Voltage signaling it will seek a new trial. Public health: A cyclospora outbreak tied to recalled iceberg lettuce has now reached 20 states, including North Carolina, with thousands sickened nationwide. Environment & risk: A state audit flags hundreds of pre-regulatory landfills across North Carolina, many never investigated and often near homes and wells.

Meta Settlement: Meta agreed to a landmark multistate $17.1B child-safety settlement, with North Carolina potentially receiving up to $645M to fund youth mental health support and with new limits and safeguards for Instagram and Facebook. Data Center Fight: A Lee County farmer went off at a commissioners meeting, warning that changes to allow a large data center campus could upend his third-generation farm and raise concerns over noise, air and water. Healthcare Recalls: Baxter recalled multiple injectable drugs, including sodium chloride and dextrose solutions, over potential fiberglass or metal contamination that could cause blockages or tissue injury. Workforce & Training: North Carolina’s Workforce Pell push is moving through state processes to qualify short-term training programs for federal aid, with big questions about access and job outcomes. Local Business Support: Main Street Manning is hosting a free Aug. 31 marketing workshop for small businesses in Manning, aiming to make social media and day-to-day marketing easier. Aviation Leadership: The Wilkes-Barre/Scranton International Airport board unanimously hired Bill Hopper, a former North Carolina airport executive, to start Nov. 1.

Nuclear Power Push: The U.S. Army will award up to $2.2 billion to five companies to build and operate tiny nuclear microreactors at bases including Fort Bragg in North Carolina, aiming to deploy the first unit by Sept. 2028 to boost energy resilience for remote installations. Tech & Local Governance: Pitt County commissioners are weighing how to handle data centers after community concerns about electricity, water use, and siting near schools; staff will review the county’s large-scale data processing ordinance. Child Safety & Big Tech: Meta agreed to a landmark settlement over teen social media harms, with North Carolina expected to receive up to about $645 million, including funding tied to youth mental health and new platform limits for users under 17. Housing Affordability: A Raleigh-area panel highlighted the scale of the rental crunch—Wake County faces a major unit shortage and many households are cost-burdened—pushing for more partners and faster solutions. Workforce Training: Roanoke-Chowan Community College is expanding access to short-term, high-demand training through the new federal Workforce Pell program, including welding, EMT, and CDL. Regional Economy Watch: Mecklenburg County sales tax collections are slightly down despite growth, with analysts pointing to fewer big-ticket purchases amid high interest rates. Business Climate: Sanford City Councilwoman Linda Rhodes was reappointed to the North Carolina League of Municipalities policy committee, continuing her focus on resilient infrastructure and land-use planning.

Big Tech & Consumer Protection: Meta agreed to pay states up to $18B over teen social media addiction claims, with North Carolina Attorney General Jeff Jackson saying the state could receive up to $645M; the settlement also requires new Instagram/Facebook safety limits like upgraded age restrictions, daily time limits, and reduced school-day notifications. Defense & Energy: The U.S. Army’s Janus program will add nuclear microreactors at five bases, including Antares Nuclear’s planned reactor at Fort Bragg in North Carolina, with up to $2.2B in milestone-based funding over five years. Local Business & Growth: Raleigh’s Pleasant Valley Promenade is set for a major redevelopment, including a new Sprouts Farmers Market and hundreds of luxury apartments, signaling continued retail reshuffling in the Triangle. Housing & Homebuying: Triangle new-home inventory hit a five-year high, and buyers are being urged to get independent inspections even when incentives make new builds look like a deal. Manufacturing Jobs: Gov. Josh Stein announced Boater’s World Manufacturing Group will invest $6M and create 179 jobs in Beaufort County with a boat manufacturing campus in Chocowinity. Energy Prices: GasBuddy reported diesel prices varied across NC counties, with Jones County’s lowest at $5.45 for the week ending Aug. 15.

IMF Macro Outlook: IMF chief Kristalina Georgieva says the global economy has “weathered” the Strait of Hormuz oil shock better than feared, helped by AI-driven investment and stronger U.S. demand, but warns developing countries risk falling behind on AI and face financial-stability threats. Monetary Policy Watch: Bank of Japan Governor Kazuo Ueda will skip Jackson Hole, with a board member attending instead, shifting attention to what the BOJ signals next at the G20 meeting in Asheville. Local Tourism: Buncombe County visitor spending totaled about $2.6B in 2025 (down 2% after Helene’s hit), while Henderson County logged $453M in 2025 tourism spending, up 3.6%. Data Centers Pushback: A pro–data center group, North Carolina Connects, spent $367K on statewide ads arguing data centers bring jobs and tax revenue as local moratoriums and regulations spread. Public Safety/Privacy: Asheville voted 5-2 to terminate its Flock Safety contract after privacy concerns, joining a wider national debate over automatic license plate readers. Education Funding: Exponential Scholars pledged $2.25M to fully fund every open DonorsChoose classroom project in North Carolina, covering 3,200+ projects. Business & Jobs: Zerohash filed a second OCC trust bank application for a proposed Asheville-based national trust bank, and Upside Foods withdrew a $50M bid for Believer Meats’ North Carolina cultivated-meat facility but says it remains interested.

Economic Development: Watauga County commissioners approved a $12,000 incentive for Rootsii LLC to build out a sweet potato milk pilot-to-production setup, aiming for local manufacturing jobs and growth. Energy & Regulation: Clean energy groups say a North Carolina Utilities Commission pause on Duke Energy’s 2026 solar procurement could raise future power costs as the solar contracting window closes. Workplace & Courts: The 4th Circuit trimmed a $22.1 million Wells Fargo worker award, keeping only an ADA retaliation claim while reducing back pay and vacating other damages. Local Business & Growth: Skiptown signed its first franchisee lease in Pineville, with a planned early-2027 opening, while Home Helpers Home Care reported 18 franchise agreements and 13 openings in the first half of 2026. Tech & Consumer Safety: Uber is rolling out an optional livestream feature for teen rides in Raleigh-Durham and other markets, letting parents/guardians view trips in-app. Statewide Civic/Business: The Battleship North Carolina Memorial launched a statewide art contest for a future specialty license plate design. Global Macro: IMF chief Kristalina Georgieva said the global economy is resisting the Iran energy shock better than expected, but fiscal pressures are worsening.

Public Transit & Game-Day Logistics: Norfolk, Hampton Roads Transit and Norfolk State University are teaming up to offer free parking, shuttle buses and free light rail rides for 2026 football home games, with fans directed to park-and-ride lots and a new stadium walkway for safer access. Food Safety: Cyclosporiasis cases tied to recalled iceberg lettuce have surged, driving big shifts in salad mix and lettuce purchasing as health experts urge caution. Local Economy & Workforce: The N.C. Global TransPark’s Regional Industries and Manufacturing Expo (RIME) won a 2026 Gold Award for workforce pipeline efforts, while UNCW joins a DOE-funded nuclear workforce training consortium led by N.C. State. Energy & Infrastructure: Data center growth is meeting pushback from communities over power and water strain, even as North Carolina’s grid modernization efforts earn major recognition. Business & Legal: A federal court preliminarily approved a $14.3M settlement involving AdaptHealth over alleged medical equipment overbilling, and OpenRoad Insurance expanded into North Carolina as it grows its classic-car coverage footprint. Consumer Fraud Watch: BBB Scam Tracker data shows New Bern tied for 18th in N.C. scam reports in July, with online purchases the most common scheme.

Food Safety: The FDA and CDC are investigating a multistate outbreak tied to alfalfa sprouts from Everything Sprouts, LLC, with 55 sickened across 15 states including North Carolina; officials say people may have been exposed to multiple germs, prompting recalls. Housing & Jobs: Gov. Josh Stein announced Great Southern Wood-NC will invest $40 million in Scotland County to build a lumber treatment facility, creating 43 jobs, with support from the One North Carolina Fund. Local Education: Fayetteville State University opened a nearly $70 million College of Education building, funded through state capital appropriations, as it ramps up teacher training capacity. Business Growth: Winterville Machine Works is expanding after receiving a $100,000 Building Reuse grant, adding nine jobs through a facility renovation. Energy & Industry: North Carolina’s role in the Carolinas Grid Modernization Engine earned an NSF Regional Innovation Engines designation, with $15 million in federal funding over two years. Retail/Consumer: AAA reports diesel up 18 cents and unleaded up 6 cents over the past week in North Carolina, keeping fuel costs near recent highs. Legal/Finance: Hometap is pushing for arbitration in lawsuits over shared-appreciation home equity contracts, including a case filed in North Carolina. Community & Nonprofits: Apparo named two North Carolina nonprofit recipients for its Mission Possible Award, pairing $10,000 grants with pro bono tech consulting to boost economic mobility.

Bankruptcy Watch: Saint Augustine’s University paused plans to launch online certificates and noncredit courses after a judge flagged the complexity of its proceeds, dissolving its Ed2Go partnership as it focuses on emerging from Chapter 11. Food Safety: Publix-linked frozen berry recalls were confirmed as not reaching the UAE, while a separate alfalfa sprout recall tied to E. coli and Salmonella has been linked to at least 55 illnesses across 15 states. Local Economy & Energy: Durham-based Relativity Networks raised $22M and landed a $40M hyperscaler follow-on order for AI data-center optical networking; meanwhile, Gaon Cable will invest $50M to expand power cable production in Tarboro to meet data-center demand. Data Centers & Community Pushback: Rural Hall is highlighted as a local resistance example against a proposed data center rezoning effort, while a separate report notes Rural Hall’s fight as “Project Iron Spur” spread quickly. Transportation Policy: The I-77 South toll lane debate is heating up ahead of a Sept. 23 vote, with Charlotte council speakers running out of time. Workforce & Education: W.E. Cundiff Elementary welcomed new faculty and staff as renovations near completion, and Mayland Community College opened a September start with new Culinary Arts and Medical Laboratory Technology programs. Insurance Leadership: North Carolina Insurance Commissioner Causey named Chuck Myers chief deputy commissioner starting Oct. 1.

Data Center Power Buildout: Gaon Cable’s U.S. arm will invest $50 million to double power cable capacity at its Tarboro, N.C. plant, adding two production lines starting Oct. 2026 and April 2027 as hyperscale data centers drive demand. Space Industry: NASA named Joseph R. Schuyler deputy director of Stennis Space Center, overseeing propulsion testing and a multi-agency federal city. Local Business & Retail: Lowes Foods plans to take over a 48,000-square-foot Burlington store in Charlotte’s Woodlawn Marketplace, adding a drive-thru and upgrades. Food Safety: A multistate E. coli and Salmonella outbreak linked to alfalfa sprouts has sickened 55 people across 15 states, with recalls covering Calco and Everything Sprouts brands sold nationwide, including in North Carolina. Courts & Public Safety: Iryna Zarutska’s family sued Charlotte and a security contractor over alleged security failures tied to her fatal light-rail stabbing. Community & Governance: Raleigh held a Ukraine Independence Day celebration; meanwhile, Hamlet council approved a resolution urging a speed-limit drop on Hylan Avenue. Energy Prices: GasBuddy reported the lowest E15 in Nash County at $3.08/gal (week ending Aug. 15), with similar spotty low-price pockets across nearby counties.