Charlotte-Mecklenburg New and Expanded Business

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As the U.S. economic recovery continues to build momentum, Charlotte is leading the charge. Charlotte had the second-fastest population growth in the country since 2000, and the city was ranked the sixth fastest-growing metro by GDP. A solid performance in the fourth quarter closes the year with 13,134 jobs, the best year of recorded activity since 2008. In 2014, the unemployment rate dropped by 1.7 percentage points to 5.4 percent, the lowest since 2009. Retail sales are up 10.3 percent, home sales and construction are showing moderate growth, and the number of passengers at Charlotte Douglas International Airport has increased. These are just a few examples of this year’s many economic bright spots.

Several infrastructure projects across the region are completed or are near completion. Commuters rejoiced at the opening of new lanes on Interstate 485, as the expansion reduced drive times. The final six miles of I-485 are expected to open in the first half of this year. The airport completed a $120 million parking garage, adding 4,000 new spots for travelers, and a $92 million intermodal facility is nearing completion. Additionally, construction of the LYNX Blue Line Extension to University City continues, which is expected to open in 2017.

This past year saw the largest Fortune 500 announcement in Charlotte’s history with the relocation of Sealed Air Corporation’s corporate headquarters from New Jersey, adding 1,262 jobs. Likewise, Charlotte had one of its strongest years attracting international companies. A few examples include Team Créatif, a French marketing company that announced 40 new jobs in Center City, and YG-1 USA, a South Korean manufacturing firm investing $13.8 million and adding 53 employees at a new technical center and manufacturing facility.

Economic development highlights of the quarter include AvidXchange, a software development company, which is adding 603 new employees. And Aramark is building on its existing presence in Charlotte by opening a 105,000-square-foot Healthcare Technology and Innovation Center, employing more than 140 people.

 

Year-End Summary of New and Expanded Business

Year

Firms

Jobs

Square Feet (millions)

Investment (millions)

2014

1,133

13,134

3.7

$723.20

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

 

 

 

 

 

 

 

 

 

 

 

 

 

New and Expanded map 4Q2014

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