BUSINESS STRENGTH
Epicenter of Economic Growth
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Business Strength
Commerce is Charlotte USA’s raison d’être. Founded at a Native American trading crossroads, Charlotte has relied on trading longer than anyone knows. From the 1799 discovery of gold to today’s status as a major financial center, Charlotte USA has always meant business—strong business. Commerce center: Charlotte is the epi-
struction. Employment is well distributed
center for business and economic growth in
among major business sectors. This is invalu-
the Carolinas. Together, the two states boast
able in weathering a recession.
annual gross domestic product of almost $523 billion.
GDP: Charlotte MSA’s GDP is the largest in
the finance and insurance sector in the Southeast. It also ranks 1st in manufacturing and
Business friendly: Expansion Magagement magazine ranks the Charlotte region 2nd for recruitment and attraction among the largest metro areas. Start-up friendly: Entrepreneur magazine recognizes the area as the 2nd best city in the
jobs, wages, earnings; non-farm proprietors,
Financial center: Charlotte is home to Bank
U.S. to start and grow a company (2006), and
construction, retail; and welfare, Medicaid
of America and Wachovia, the nation’s 2nd and
among the nation’s best for starting and running
factored in also.
4th largest banks, making it the 2nd largest finan-
a small business. The vast majority of firms
cial center following New York. Banks in the
employ 50 or fewer workers.
3rd in wholesale trade.
Cost-effective utilities: Duke Energy Corporation is headquartered in the region and its
Young professional friendly: The Char-
electricity rates are 15 percent below the
Corporate headquarters: No less than 9
lotte region is a magnet for young professionals.
national average. Other utilities such as Pied-
Fortune 500 companies are headquartered
Bizjournal ranks the area 7th among the top 67
mont Natural Gas, AT&T (formerly BellSouth)
within the region and nearly 300 Fortune 500
metropolitan areas for young adults, 2008.
and Alltel also provide cost-effective service.
region control more than $1 trillion in assets.
companies maintain a presence. Large private
Public-private cooperation: Charlotte USA
Flowing though the heart of Charlotte USA, the
firms include Compass Group North America
enjoys a long tradition of public-private cooper-
Catawba River provides a plentiful supply of
and Belk Inc., each with annual sales topping
ation. Leaders of government and industry
water that originates in mountain streams.
$2.2 billion. Charlotte USA is home to 32
work closely for the common good. Such coop-
Outstanding higher education: The region’s
companies with more than $1 billion in
eration helped transform Charlotte’s Center
work force is smart and educated, supported by
annual sales. Pollina Corporation ranks Char-
City, the heart of the 16-county area, from a
an outstanding system of higher education. The
lotte USA No. 1 on its list of the Top 10 Pro
business-centric 9-to-5 profile to a vibrant
region is home to 33 colleges and universities,
Business States.
metropolis that bustles 24/7. People live, work
with 51 campuses, that serve more than
and play in the region’s urban core.
150,000 students. Central Piedmont Commu-
Economic growth: The NC-SC MSA is 1st in economic strength as listed by Policom Cor-
Economic Strength: Policom Corporation
nity College in Charlotte is the largest school in
ranks Charlotte No. 1 out of 363 metropolitan
North Carolina’s community college system,
Balanced economy: The economy of
MSAs in their 2008 Economic Strength
which is the 3rd largest in the U.S. and the Uni-
Charlotte USA is balanced. While the largest
Ranking, based on population of at least
versity of North Carolina at Charlotte, with an
industry segment is wholesale trade, it is bol-
50,000 with a high degree of social and eco-
enrollment over 21,000, is the fourth largest in
stered by services, manufacturing and con-
nomic integration. Three other data sectors,
the 16-campus UNC system.
poration in 2008.
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ChooseCharlotteUSA
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www.charlotteUSA.com