The Queen City prides itself on its supportive business attitude and the vital, growing firms that benefit from it. In return, businesses and the services that support them have helped shape the city and the region – an area with a strong and diverse economy, high-quality expanding workforce, solid technical, educational and transportation resources, vibrant communities and diverse lifestyles. The influx of new, skilled workers to the area and partnership between the private sector and public agencies ensure that Charlotte will continue to be a great place to do business.
Finance is a major player here; with more than $2 trillion in assets, Charlotte is second only to New York City. Charlotte is home to 20 banks with 229 local branches, including a Federal Reserve Branch. Two of the largest banks in the country in terms of deposits – Bank of America and Wachovia Corporation – are based here. Both institutions have branches throughout the nation and provide specialty banking services worldwide.
Uptown’s skyline has been influenced by these and other banks, whose growth is reflected in skyscrapers such as Bank of America Corporate Center, The Hearst Tower, the IJL Financial Center and One Wachovia Center. Beyond its financial prowess, Charlotte is also home to seven Fortune 500 companies including Duke Energy, Bank of America, Nucor Corp., Goodrich, SPX and Sonic Automotive. The headquarters for Family Dollar, Food Lion and Lowe’s are located in nearby suburbs. Additionally, more than 311 Fortune 500 businesses operate facilities in Charlotte.
Small businesses flourish in the area as well. In the past 10 years, over 8,000 firms have opened in Charlotte, investing $9.6 billion and offering more than 74,000 new jobs.
As a manufacturing center, Charlotte is home to almost 2,000 manufacturers that employ over 70,000 workers in textiles, electronics, printing, plastics, industrial machinery and other industries.
UNC Charlotte has partnered with the public and private sectors to create the Charlotte Research Institute, an umbrella organization of businesses and government entities that fosters research and collaboration. The 1.2-million-square-foot facility is located on the campus of UNC Charlotte.
Charlotte’s status as a transportation hub significantly facilitates economic growth. Served by a superb network of highways and as the center of the country’s largest consolidated rail system, Charlotte continues to be a focal point for development in the Southeast. The ever-expanding outer belt, I-485, has helped to increase development along Charlotte’s outskirts. |
