Charlotte-Mecklenburg New and Expanded Business

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The fourth quarter places a great bookend to a robust year indicative of Charlotte-Mecklenburg’s progressing economy. What better way to end the year but to see the decreasing unemployment tracking well ahead of the area’s growing labor force? The unemployment rate has not been this low in five years, and the number of home sales in 2013 was the highest since 2007. These are only a couple of examples of the bright spots from a year that can only be described as great.

Other news that points to a great year includes the merger between US Airways and American Airlines, making Charlotte Douglas International Airport the second-largest hub of the world’s largest airline. MetLife announced it was moving more than 1,300 jobs to Charlotte. Quickly realizing that more space was necessary, the company announced in October that it would lease a total of nearly 400,000 square feet.  

There are also many transportation projects that began or are near completion: Ground broke on the light rail extension to University City; construction continues on the CityLYNX Gold Line streetcar; and both interstates 485 and 85 are expected to have expanded capacity in the coming year.

Economic development highlights from this quarter include Electrolux with 610 jobs, 375,000 square feet and $85 million in investment; Rotech Healthcare, Inc. with 200 jobs, 24,174 square feet and $3.4 million in investment; Stanley Black & Decker with 250 jobs and $6.3 million in investment; AIG with 230 jobs and $5.5 million in investment; and Jabian Consulting with 100 jobs.

All of this momentum opens the door for a great 2014. We are bringing back the buzz of the Charlotte Hornets and will have minor league baseball in the city, once again, with the Charlotte Knights’ season opener in April. 

 

Year-End Summary of New and Expanded Business

Year

Firms

Jobs

Square Feet (millions)

Investment (millions)

2013

    1,138

    11,530

5.7

       $854.90

2012

    1,180

      9,595

6.9

    $1,252.70

2011

    1,089

      8,850

6.2

       $669.40

2010

       912

    10,781

6.4

    $1,063.70

2009

    1,029

    15,542

        11.3

    $1,461.70

 

 

 

 

 

 

 


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This quarterly report is available at the Charlotte Chamber for $10 per copy.  For further information please call 704.378.1300.  


Prepared by: Madeline Caryl and Sean Smith.