Category Archives: North Carolina

The love of taxes is the root of unhappiness

A recent study in Science magazine indicates that states with the highest taxes also have the least happy residents.  The Wall Street Journal, reporting on the study, argues that the causation is high taxes = unhappiness.  While we are certainly sympathetic to that point of view, we also have to wonder if it runs vice-versa, or at least cuts both ways:  unhappy people like to raise taxes.

We are… happy.  And happy to report that’s true for our region as well.  Here is a *totally random* sample of states’ rankings on the happiness of their residents.  See below the jump for the entire story.

3. Florida
4. Tennessee
12. North Carolina
16. Texas
19. Georgia
28. Virginia
43. Massachusetts
46. California
51. New York


Good news for startups in our region

Forbes reports that the nation’s professional classes continue to move to the Southeast and Texas:

Net migration, both before and after the Great Recession, according to analysis by the Praxis Strategy Group, has continued to be strongest to the predominately red states of the South and Intermountain West.

This seems true even for those seeking high-end jobs. Between 2006 and 2008, the metropolitan areas that enjoyed the fastest percentage shift toward educated and professional workers and industries included nominally “unhip” places like Indianapolis, Charlotte, N.C., Memphis, Tenn., Salt Lake City, Jacksonville, Fla., Tampa, Fla., and Kansas City, Mo.

The overall migration numbers are even more revealing. As was the case for much of the past decade, the biggest gainers continue to include cities such as San Antonio, Dallas and Houston. Rather than being oases for migrants, some oft-cited magnets such as New York, Boston, Los Angeles and Chicago have all suffered considerable loss of population to other regions over the past year.

The venture capital industry started in the Northeast and is still largely based there and on the West Coast.  But given the relative attractiveness of the Southeastern and Texan economies for entrepreneurs, the future of the venture industry may be right here.

KBI Biopharma grabs $9.6M financing

KBI Biopharma grabs $9.6M financing

DURHAM, NC – KBI Biopharma, a biopharmaceutical contract services company, has raised $9.6 million of a targeted $10 million in new funding, according to a regulatory filing.

The company revealed the funding in a filing with the U.S. Securities and Exchange Commission. Ballast Point Ventures invested $7.4 million in the company in February.

At that time, Richard J. Brandewie, managing partner of Ballast Point Ventures, said that “After a number of years of closely following the biopharmaceutical services marketplace and extensive KBI-specific due diligence, we found that KBI consistently achieved extremely high levels of customer satisfaction, along with an industry-leading rate of growth.”

© 2023 Ballast Point Ventures. All rights reserved.