Business Strength
BUSINESS STRENGTH
Epicenter of Economic Growth
Commerce is CharlotteUSA’s raison d’etre. Founded at a Native American trading crossroads, trading has been happening here longer than anyone knows. From the 1799 discovery of gold to today’s status as a major financial center, CharlotteUSA has always meant business–strong business. Commerce center: Charlotte is the epicenter for business and economic growth in the Carolinas. Together, the two states boast annual gross domestic product of almost $400 billion. Financial center: Charlotte is home to Bank of America and Wachovia, the nation’s 2nd and 4th largest banks, making it the 2nd largest financial center following New York. Banks in the region control more than $1 trillion in assets. Corporate headquarters: No less than 9 Fortune 500 companies are headquartered within the region and nearly 300 Fortune 500 companies maintain a presence. Large private firms include Compass Group North America and Belk Inc., each with annual sales topping $2.2 billion. CharlotteUSA is home 26
to 32 companies with more than $1 billion in annual sales. Business Facilities magazine ranks CharlotteUSA 3rd on its 2003 list of best cities for corporate headquarters.
services, manufacturing and construction. Employment is well distributed among major business sectors. This is invaluable in weathering a recession. Business friendly: The Charlotte area is 4th most attractive of 70 U.S. cities for business expansion or relocation, according to a 2005 listing by Expansion Management magazine compiled by site selection experts.
Economic growth: The CharlotteGastonia MSA is 1st in economic strength as listed by Policom Corporation in 2004. The CharlotteGastonia area led North Carolina on the Expansion Magazine 2006 list of America’s Hottest Cities for business relocation or expansion.
Start-up friendly: Entrepreneur magazine recognizes the area as the 2nd best city in the U.S. to start and grow a company (2005) among the nation’s best for starting and running a small business. The vast majority of firms employ 50 or fewer workers.
Balanced economy: The economy of CharlotteUSA is balanced. While the largest industry segment is wholesale trade, it is bolstered by
People friendly: The Charlotte region ranks 1st among 573 metropolitan statistical areas for social and economic integration in a 2004 Policom Corporation ranking.
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