Jan. 25, 2012 10:19

bidness

Currency project announces partnership with Bank of Oak Ridge

The Greensboro Currency Project and Bank of Oak Ridge planned to announce a partnership to create and provide a local currency that could be exchanged for US dollars on Wednesday. Project facilitator Signe Waller Foxworth said the groups have been working together for about six months and that the bank will be a trading partner, part of the future governing board and a site of conversion and exchange of the currency.

Foxworth said the project has reached a dozen trading partners and aim for 50 before officially launching, but once the currency is off the ground, people will be able to use it at trading partner sites at a ratio of one to one with the US dollar.

The bank is getting new software to keep track of the currency and that bank personnel have been actively involved, particularly marketing director Bonnie Ross and accounting department employees, Foxworth said. The Greensboro Currency Project was started in 2009. To learn more, visit greensborocurrencyproject.blogspot.com. — EG

Aircraft maintenance company receives state funds to create jobs

Gov. Bev Perdue announced that Piedmont Propulsion Systems will add 25 jobs and invest $1.6 million to renovate and move into space at Smith-Reynolds Airport in Winston- Salem. The company is receiving a $50,000 grant from the One North Carolina Fund. Companies must meet investment performance standards before receiving the state incentive funds.

Founded in 1948 under Piedmont Airlines, Piedmont Propulsion Systems repairs blades and other components for propeller manufacturers. The company, which is owned by Connecticut-based First Aviation Services, currently employs 31 full-time and four part-time employees in Winston-Salem. The average annual wage for the new jobs will be $34,304, according a state-issued press release. — JG

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