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INCLUSIVE ECONOMY AND GROWTH Ensure continued Center City economic growth that reduces economic disparities and optimizes opportunities for all Charlotteans.
BIG IDEA: Create a Center City Equity Fund (CCEF) to provide funding for equity-driven community and economic development in the urban core
The rapid growth of Charlotte-Mecklenburg and Center City over the last decade has created benefits and opportunities, but also significant growing pains and challenges. The City Center Growth Projections Study sheds light on the nature of recent growth and development and identifies goals (or growth targets) that informed the recommendations of the 2040 Vision Plan. As the economy grew and brought new businesses and job sectors (e.g., high tech) to Center City, housing production did not keep up the pace needed to accommodate residents and newcomers. As a result, housing prices have shot up and many residents have been displaced, are struggling to pay for housing, or have become homeless. Continued and expanded economic growth is fundamental to reaching the goals of the 2040 Vision Plan, because it provides the resources needed to invest in neighborhoods. Improvements in parks and open spaces, transit systems, and neighborhood amenities all depend on a strong economy that provides tax revenue and other funding to the City and County. Peer cities MSA employment capture Source: US Census, Economic & Planning Systems
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CENTER CITY 2040 VISION PLAN
Peer cities Center City housing capture Source: ESRI
Peer Cities ratio of new jobs to households Source: ESRI, US Census, Economic & Planning Systems