Oak Ridge Today

Pinnacle Financial Partners to acquire CapitalMark Bank and Trust

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CapitalMark Bank and Trust Oct. 9, 2012

The front of CapitalMark Bank and Trust in Oak Ridge is pictured above on Oct. 9, 2012. (File photo)

 

David Bradshaw will continue to serve as Oak Ridge president

Pinnacle Financial Partners Inc., the second-largest bank based in Tennessee, on Tuesday announced an agreement to acquire CapitalMark Bank and Trust, which has a location in Oak Ridge. The merger is expected to close late in the third quarter or early in the fourth quarter of 2015.

David Bradshaw, CapitalMark’s Oak Ridge president, will become Pinnacle’s city president for Oak Ridge. CapitalMark clients will continue to work with their banker teams, which in Oak Ridge includes Bradshaw and Andy Boyer.

“CapitalMark is excited to partner with an organization that shares our commitment to excellent client service and has demonstrated strong operating performance and a long-term track record of growth,” said R. Craig Holley, CapitalMark’s chairman, president, and chief executive officer. “I strongly believe that, collectively, the two franchises can accomplish more, grow more efficiently, and realize more value for our shareholders together than independently. Since CapitalMark’s founding in 2007, we have focused on businesses and their owners, and we will continue that tradition with Pinnacle.” [Read more…]

DOE Oak Ridge awards $9.6 million contract to Chickasaw Nation Industries

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Cris Van Horn, seated right, DOE-ORO deputy director for procurement and contracts, along with DOE-ORO Procurement and Contracts staff Trae Crowder and Keturah Moore, standing, congratulate Tyler Sparks, LLC manager of Chickasaw Nation Industries Global Solutions LLC, for the current award of a 5-year, $9.6 million SBA 8(a) Business Development Program contract for financial management support services at the DOE Oak Ridge Office. (DOE photo/Lynn Freeny)

Cris Van Horn, seated right, DOE-ORO deputy director for procurement and contracts, along with DOE-ORO Procurement and Contracts staff Trae Crowder and Keturah Moore, standing, congratulate Tyler Sparks, LLC manager of Chickasaw Nation Industries Global Solutions LLC, for the current award of a 5-year, $9.6 million SBA 8(a) Business Development Program contract for financial management support services at the DOE Oak Ridge Office. (DOE photo/Lynn Freeny)

 

The U.S. Department of Energy’s Oak Ridge Office has awarded a five-year, $9.6 million contract to Chickasaw Nation Industries Global Solutions LLC for financial management support services. The contract will employ about 17 people in Oak Ridge, a press release said.

The contract was awarded through the Small Business Administration 8(a) Business Development Program.

“We are pleased with the selection of Chickasaw Global Solutions as the next financial management support contractor at the Oak Ridge Office,” said ORO Deputy Manager Kevin Hall. “The services provided under this contract are vital to our success, and we look forward to building a productive, professional relationship with this company.” [Read more…]

CVMR provides information for job applicants, vendors interested in Oak Ridge work

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Michael Hargett and Kamran Khoza of CVMR USA

CVMR President Michael Hargett, left, and Kamran Khozan, chairman and chief executive officer, joined local, state, and federal officials on Friday, March 13, to announce they’re moving company headquarters from Toronto to Oak Ridge, investing $313 million and adding 620 jobs.

CVMR, the Toronto company that is moving its headquarters to Oak Ridge, has provided contact information on its website for job applicants and vendors interested in employment and service opportunities at its Oak Ridge office.

Job applicants can send their resumés to hr@cvmr.ca.

Vendors can send their information to supply@cvmr.ca. [Read more…]

Regional firms receive ORNL’s 2015 Small Business Impact Awards

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ORNL Small Business Impact Awards

ORNL Small Business Impact Award winners, pictured, left to right: Jeremy Shoop, City-State LLC; T.J. Kocak and Roger Claiborne, Pellissippi Investors LLC; Cindy and Michael Hollander, Innovative Design Inc.; Vicki Dyer and Wendi Arnold, Scientific Sales Inc.; Elizabeth Vacanti, ORNL; Beau Scherer, Scientific Sales Inc.; Barry Stephenson, Materials and Chemistry Laboratory Inc. (MCLinc); Gabe Beck, City State LLC; Debbie Pohanka, Scientific Sales Inc.; and Brittany Voigt, Innovative Design LLC. (Photo courtesy ORNL)

 

Oak Ridge National Laboratory recognized local and regional companies with annual Small Business Impact Awards on March 27 at the weekly meeting of the East Tennessee Economic Council in Oak Ridge.

The companies were honored in categories emphasizing their specific capabilities.

The Above and Beyond Award went to the small business Pellissippi Investors LLC. The company is the landlord for ORNL’s National Transportation Resource Centers I and II, which house several highly advanced research laboratories. Pellissippi Investors was instrumental in ensuring that tenant improvements to the facilities were executed properly despite demanding research schedules and tight budgets.

The Innovator Award was given to Materials and Chemistry Laboratory, or MCLinc. This commercial applied research firm is a small business located in Oak Ridge. MCLinc developed a unique method used for the analysis of filters from the cooling system at the Spallation Neutron Source, despite a challenging analytical scenario. [Read more…]

Tech 2020-led team receives $250K grant for investment capital effort

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Tech 2020 Logo

A proposal team led by Technology 2020, or Tech 2020, in Oak Ridge has received a $250,000 federal grant to create a seed capital fund. The goal is to establish a permanent source of professionally managed, seed-stage investment capital focused on technology-generating institutions, entrepreneurs, and young companies in Tennessee, a press release said.

The grant was announced this week by U.S. Secretary of Commerce Penny Pritzker.

Tech 2020 led a proposal team that included Memphis Bioworks Foundation, Meritus Ventures, and Innova Memphis. The team proposed to create the “TennesSeed Fund.”

The TennesSeed Fund team will receive the $250,000 grant, and it will be supported by Meritus and Innova to conduct an assessment of best practices, and then organize and launch a new seed fund focused on “proof of concept” financings in Tennessee. The initial focus of investments will be intelligent and sustainable transportation and logistics, which is an industry cluster where Tennessee has a competitive advantage bolstered by strong research, development, and commercial activity, a press release said. [Read more…]

Photos: Building demolition near Magic Wok

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Magic Wok Building Demolition

The demolition of the commercial building next to the Magic Wok restaurant is pictured above on Sunday, March 29. The area to the left most recently housed the Tienda Nony grocery and Appalachian Frame Shop (both stores have relocated in Oak Ridge), and the area to the right housed the Classic Cleaners. (Photo by Julio Culiat)

 

The demolition of the commercial building next to the Magic Wok restaurant started earlier this month.

Pictured above to the left of the Magic Wok is the demolished portion of the building that once housed the Tienda Nony grocery and Appalachian Frame Shop. (Both stores have relocated to new locations in Oak Ridge; Tienda Nony is in a shopping center off Bus Terminal Road, and Appalachian Frame Shop is at Grove Center.) The area to the right of Magic Wok once housed the Classic Cleaners.

In November, a city board ordered the building demolished within 30 days. The demolition order, which was issued earlier this month, does not apply to the Magic Wok, which is in a separate diner on the western side of the building. [Read more…]

20th Anniversary Tennessee Valley Corridor Summit at ETSU May 27-28

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Tennessee Valley Corridor Logo

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The Tennessee Valley Corridor will hold its 20th Annual TVC National Summit in Johnson City at East Tennessee State University on May 27-28.

The Summit will be hosted by ETSU President Brian Noland, in cooperation with Congressman Phil Roe, with the theme “Education Fuels the TVC Economy.”

“From our region’s community colleges to our outstanding four-year universities, the Corridor has a strong foundation to prepare the next generation of the workforce,” Roe said. “As co-chairman of the Tennessee Valley Corridor Caucus, I look forward to sharing some of the work that is ongoing in Congress. The Summit will look at education from the business and industry perspective and discuss how to ensure the workforce has the skills they need to find quality jobs at home, and how our educational institutions can partner with businesses and organizations for better success, which is critical for us all to learn about.” [Read more…]

See Main Street Oak Ridge plans here

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Main Street Oak Ridge Master Plan March 26, 2015

Here is the master plan for Main Street Oak Ridge. See a larger version of the plan in the first link below.

 

Several readers have asked for higher resolution versions of the plans for Main Street Oak Ridge, the development that could replace the former Oak Ridge Mall with a mix of retailers, restaurants, residential units, and possibly a hotel.

Here are copies of the plans provided by Oak Ridge Community Development. One is the master plan, and the other is a pedestrian connectivity and conceptual landscape plan. [Read more…]

Main Street Oak Ridge signs first anchor lease, other leases could follow

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Main Street Oak Ridge

Main Street Oak Ridge would redevelop the former Oak Ridge Mall as a mixed-use project that could include retailers, restaurants, residential units, and possibly a hotel. The existing space between the two remaining anchors, Belk and JCPenney, would be demolished, although those two stores would remain.

 

Note: This story was last updated at 10:15 a.m. March 27.

The developers who want to convert the former Oak Ridge Mall into Main Street Oak Ridge signed their first anchor store lease last week, an executive said Thursday.

And three to five more leases could be signed in the next month or so, said Tim Sittema of Crosland Southeast, the North Carolina company that has proposed the roughly 60-acre redevelopment.

Main Street Oak Ridge would redevelop the mall as a mixed-use project that would include retailers, restaurants, residential units, and possibly a hotel. The existing space between the two remaining anchors, Belk and JCPenney, would be demolished, although those two stores would remain. [Read more…]

Big day: Main Street Oak Ridge, Manhattan Project Park on Thursday’s agenda

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Main Street Oak Ridge Presentation

Pictured above during a presentation on Main Street Oak Ridge last week are Crosland Southeast partner James Downs, right; Barry James, Crosland Southeast senior vice president, center; and Houston E. Daugherty, Cannon and Cannon vice president.

 

A vote that could help Main Street Oak Ridge, the redevelopment of the former Oak Ridge Mall, is on Thursday’s agenda. So is an open house on the new Manhattan Project National Historical Park.

They are among two of the biggest projects in Oak Ridge in years, and both are considered key parts of an economic renaissance that also includes new business development along Oak Ridge Turnpike and South Illinois Avenue, a new Kroger Marketplace shopping center, the proposed multi-billion-dollar Uranium Processing Facility at the Y-12 National Security Complex, and the announcement by metal powder manufacturing company CVMR this month that it will move its operations from Toronto to Oak Ridge, investing $313 million and adding 620 jobs.

A rezoning has been requested for Main Street Oak Ridge. It will be considered by the Oak Ridge Municipal Planning Commission during a meeting that starts at 5:30 p.m. Thursday, March 26, in the Oak Ridge Municipal Building Courtroom. The Planning Commission will also consider a planned unit development, or PUD, master plan for the project. [Read more…]

Small business seminars this week

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There are two more small business seminars in Oak Ridge this month, and both are scheduled for this week.

The first is from 11:30 a.m. to 1 p.m. Thursday, March 26, at the Oak Ridge Chamber of Commerce. It’s free.

The seminar is titled “Inside the DCAA Audit—What are they looking for?” The speaker is Laura Davis, president of Strategic Consulting Solutions. [Read more…]

Franchise EXPO 2015: Educational, interactive expo comes to Knoxville

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Have you ever thought about owning your own business? A group of Knoxville organizations led by Jerry Bird, who heads FranNet of Alabama and East Tennessee, are offering a one-day event for those wanting the freedom and control of owning their own business. More than 20 different franchise companies looking to expand into Knoxville and the surrounding areas, as well as business experts who can assist in buying and growing a business, will be in Knoxville for one day.

The Knoxville Franchise EXPO 2015 will be held at the Rothchild Catering and Conference Center at 8807 Kingston Pike in Knoxville from 10 a.m. to 4 p.m. Thursday, April 9. While the majority of the EXPO is available for you to wander and visit as you like, there will also be workshops offered as specific times including franchise funding, networking, and how to go about finding the right franchise fit. [Read more…]