Peter Loftin- The Story Of The Famous Telecom Entrepreneur

Introduction

Peter Loftin or Peter T. Loftin is a famous telecom entrepreneur. He is the child of Robert G. Loftin, who was a Korean War veteran and Maree Nelson Loftin, who was an elementary school teacher. Loftin started the BTI or Business Telecom Inc. at just 25 years of age.

Loftin became a part of the telecommunications industry after the breakup of Bell Telephone Monopoly. Therefore, he set up the Business Telecom Inc. (BTI) in 1983 and led this company in Raleigh, NC. His aim was to successfully expand this business as a leading telecommunication company in this nation and also to be the biggest private employer in Raleigh, NC. At the same time, Loftin is also known as the initiator of flat-rate pricing for the long-distance communications in the field of telecommunications.

His work…

Because of his achievement, he was awarded “North Carolina Entrepreneur of the Year” by North Carolina Magazine. Besides, he was also awarded “Corporate Citizen of the Year Award” by the North Carolina Electronics and Information Technologies Association or NCEITA. He received that award for generously offering free internet services to the disabled students of the rural schools all around North Carolina. After that, Peter Loftin was publicly recognized by the Governor of North Carolina of that time, James B. Hunt for his contribution in the field of telecommunication.

Then in the year 1999, BTI was ranked seventh among the competitive local exchange carriers by the sovereign research group New Paradigm Resources. At that point, the company had its yearly revenue around $400 million.

About Casuarina

Loftin also had an important investment in both the field of community affairs and business of North Carolina. Actually, in the year 1997, he was the biggest contributor to the BIT Center for Performing Arts. This center was the biggest venue for performing arts between Washington DC and Tampa. After that, he was renowned as the single largest contributor ever to Raleigh by Tom Fetzer, the Raleigh Mayor, and the City Council.

In the year 2000, Loftin purchased Casa Casuarina as a part of the involvement in the field of Arts. Before that, he sold a percentage of BTI and devoted some proceeds to the real estate endeavors. Casa Casuarina was one of the most opportunistic assets that he had at that time. In fact, Loftin counted on this property as a scope to return to the community. Therefore, he gifted that venue for around 30 important charities. Once he owned this property, the maintained the services of Ernst and Young to develop the study of highest while using the property in the best possible manner. Due to the recommendation of Ernst and Young, he developed Casa Casuarina as the part of a club business and a lavish boutique hotel.

Conclusion

In 2016, Peter Loftin set up Bardstown Bourbon, the largest whiskey distillery in the USA. In fact, this is the model of Rye Distilling, Collaborative Bourbon, and Whiskey Program. Loftin works as the chairman of this board as well as he is instrumental in this new Constellation Brands partnership.