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durham inc.

was determined by analyzing the availability of high-paying jobs for recent grads alongside the availability of affordable housing. SmartAsset ranked Durham No. 9 in a list of U.S. cities where women are most successful. The ranking was determined by measuring the percentage of women with bachelor’s degrees, the median annual earnings of women and the percentage of women business owners, among other factors.

ACQUISTIONS + PARTNERSHIPS

every meeting is held and every document is shared through connected applications, the need for ThousandEyes’ technology has never been so high,” said Todd Nightingale, senior vice president and general manager of Cisco’s Enterprise Networking and Cloud business. RelyMD merged with Georgiabased telehealth company MYidealDOCTOR in June. The organizations also formed a partnership with hospital service company ApolloMD in order to bring community telehealth to more health systems.

In May, technology conglomerate Cisco Systems acquired the San Francisco-based ThousandEyes Inc. ThousandEyes works to identify issues in internet service delivery to improve user experience. “In a time when

The North Carolina Biotechnology Center partnered with the National Institute for Innovation in Manufacturing Biopharmaceuticals and other organizations to create

We know downtown.

an initiative to prepare veterans, service members and military spouses for careers in biopharmaceutical manufacturing. Pfizer and Merck, both located in RTP, will connect these trainees to jobs in the industry, and Durham Technical Community College, among other state community colleges, will offer technical training. Laura Rowley, director of life science economic development at NCBiotech, said “... we want to better enable service members to transition to a rewarding civilian career in a sector they may not have otherwise considered.”

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Open Book Extracts, a processor of high-quality cannabinoid products, acquired Chilmark Labs in June and its Israeli affiliate, Beetlebung Pharma Ltd., which have experience manufacturing rare and minor cannabinoids. “We are seeing a proliferation of products utilizing and highlighting the rare, minor cannabinoids to replace the one-size-fits-all approach that CBD offers,” said Open Book Extracts CEO David Neundorfer. “Open Book Extracts is proud to join forces with Chilmark Labs to provide the industry with the most efficacious, pure and highquality ingredients, delivering the results that companies and consumers deserve.”

Economic Development • Clean & Safe • Placemaking

115 Market St. #213 • Durham, NC 27701 • 919.682.2800 downtowndurham.com

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Durham-based Open Invention Network (OIN), a community of technology companies promoting the use and sharing of open-source software (OSS), announced on June 23 that Sumitomo Mitsui Financial Group Inc. (SMFG) joined as a member.

In June, IEM partnered with Quanta Services and ATCO Ltd. to restore Puerto Rico’s electric grid after the effects of hurricanes Irma and Maria. ATCO and Quanta formed a new company, LUMA Energy LLC, to manage the project, and IEM will support LUMA through federal funding and critical emergency management. The team was selected by the Puerto Rico Public-Private Partnerships Authority following a competitive 18-month process.

CLOSURES

The Mothership, a coworking space and retail collective, closed in June after eight years in downtown. “While our decision ultimately comes from the intersection of many important factors, including the unknowns due to COVID-19, our days in our Geer Street home were already numbered,” Founders Megan Bowser, Katie DeConto and Krista Anne Nordgren said in a press release. “Our landlords, like so many throughout downtown, are redeveloping our space, and we would have had to move by early 2021. … Restructuring within the changes caused by COVID-19, while simultaneously preparing to close the space and find a new home, is financially and energetically too much of a risk for us to maintain our integrity as a business.” Frenchies Modern Nail Care permanently closed its Durham location, which had been open for a little more than a year, on June 1 despite the lifting of COVID-19 restrictions. “We appreciate all of those who have supported our business over the last year and our wonderful staff for their hard work,” the team said in a statement.

Profile for Shannon Media

Durham Magazine August 2020  

The Best of Durham

Durham Magazine August 2020  

The Best of Durham

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