The economic viability of a community is based upon the growth of existing industry as well as the addition of new industries. Charlotte continues to work to attract new business because all segments of the economy benefit when a new firm relocates to this community.

The addition of a new business stimulates the surrounding community. New employees mean more payroll dollars flowing into the area.  Retail sales go up. More stores are needed.  More tax dollars are generated.  The local economy expands.

Just how much does the economy expand?  This depends upon the specific type of new jobs created. Traditionally manufacturing jobs have more impact than service-related jobs.  We can, however, make some general assumptions of their impact based upon previous studies conducted across the nation.

6,861 new jobs will be spread across all industries and distributed as follows:                    

•   1,821 Professional and Technical Services
•   1,530 Accommodations and Food Service
•   1,154 Wholesale, Retail and Entertainment
•   778   Finance, Insurance, Real Estate, Rental and Leasing
•   498   Manufacturing
•   307   Other
•   295   Publishing and Broadcasting and Administrative Support
•   175   Utilities and Constructio
•   161   Transportation and Warehousing
•   142   Educational Services and Health Care and Social Assistance        

 The original 6,861 new jobs will bring 9,743 new people to Charlotte.  This will create:

•  $370,565,262 Total new personal income
•  3,911 Residential home sales
•  $786,271,421 Residential home sales
•  $9,856,699 Property tax dollars

New retail stores will be needed to fill the retail needs of these new jobs:

•  $134,847,782 Total retail sales      
•  $7,500,657 Clothing and clothing accessories sales
•  $3,648,490 Electronics and appliances sales
•  $15,089,865 Food service and beverage sales
•  $3,300,057 Furniture and home furnishings sales
•  $12,292,136 Gasoline sales
•  $20,171,946 General merchandise sales  
•  $18,782,930 Grocery sales
•  $24,228,543 Motor vehicle and parts sales
•  $3,195,187 Sporting goods, hobby, books and music sales

Other positives for the social and business community include:  $267,441 Philanthropic Contributions

In the past 10 years, the Charlotte Chamber has recruited 6,790 new companies, 56,338 new jobs, and $11,020 million in new investment.