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home : news : news January 19, 2019

11/29/2018 1:12:00 AM
Business News
Marshalls is coming to N. Generals Blvd. next year.
Marshalls is coming to N. Generals Blvd. next year.
The former Sonic location is going to become a new strip of shops that will include another Starbucks.
The former Sonic location is going to become a new strip of shops that will include another Starbucks.

Wayne Howard
Staff Writer

Lincolnton's business community is growing.  The downtown area, which had been home to a multitude of vacant buildings, is now seeing renewed growth thanks to some transplants and some new ventures. 

Noblot Jewelers moved from a location adjacent to Lowe's off East Main Street and the Leprechaun gift shop moved to make room for the expansion of Abernethy Chevy-Buick-GMC.  GoodWood Pizza opened on North Aspen Street and now two new night spots are operating with a third on the way.  Crafted-A Southern Speakeasy on E. Main St. and Untapped Territory on E. Water Street appear to be doing quite well since opening recently.  Pete DeGregory is continuing to work on opening another pub and restaurant at the corner of E. Water St. and the Courtsquare.  The Meating Place opened on Main Street in May and has been serving sandwiches for the last couple of months in addition to their meats, cheeses, etc.  

New businesses yet to come include Jersey Mike's which will be opening shortly on E. Main St. in Boger City.  The Keever Pharmacy move to the spot adjacent to the Urgent Care Center is planned for next year as construction on the new building continues.  On the other side of the pharmacy location is the new Chick-fil-A, finally in Lincolnton and doing very, very well.  

Of course, with stories of success, there comes also those of failure.  We're not sure what happened to the Wing Station on Vandiver Drive.  Having eaten there several times, I thought their food was good--but suddenly, they were gone.  Also gone--after two tries--is Popeye's, with no apparent interest from anyone else in using that building. 

Homestead's was once a booming business, but like others that were once the primary place for meetings for clubs and civic groups, that changed. 

Sonic didn't survive, but now a developer is putting a new strip of shops on that location.  Included, we understand, will be a Starbucks (yes, we know there's one at Ingles and at the hospital, now we'll have three) and a dentist's office.  Plans for a jewelry store apparently fell through.

The old Ford dealership location is being prepared for a pair of restaurants: a Captain D's and a Church's Chicken.  We've also learned that the former Bi-Lo location on N. Generals Blvd. will become a new Marshalls store.  Marshalls is operated by TJX Companies, who also operated TJ Maxx and Home Goods stores.  There are currently Marshalls locations in Shelby and Huntersville and several in Charlotte, plus a TJ Maxx store in Gastonia.  Marshalls is the second largest off-price family apparel and home fashion retailer, behind its sister company, TJ Maxx.

The biggest business news for most readers right now may be the plummet in gas prices.  It's all because of a big decline in oil prices.  Oil was trading in the $80 per barrel range and in October we were approaching a four-year high in gas prices.  Then things changed, and truthfully, those who (like myself) have been watching the oil markets for years are puzzled.  Crude is trading this week in the $50-$60 per barrel range.  Gas prices have dropped to less than $2 per gallon in South Carolina, and as low as $2.06 per gallon in Denver.  

President Trump gave himself credit in a tweet Sunday, but the truth is that he had little (actually nothing) to do with the lower prices.  According to the International Energy Agency, oil supplies were already ample and increased production from Russia, Saudi Arabia and the US is at record levels, which is driving prices down even further.  

The President tweeted: "So great that oil prices are falling (thank you President T). Add that, which is like a big Tax Cut, to our other good Economic news. Inflation down (are you listening Fed)!"  

That mention of the Fed is in response to a stated likelihood that the Fed will raise the prime interest rate again soon.  Some have blamed the current low rates for fueling inflation.


Lincoln County Tax Dept. - List Taxes 2019

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