Mecklenburg County Economy Quarterly

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Charlotte-Mecklenburg sees continued growth in second quarter

Charlotte’s job growth continued in the second quarter of 2017, and remained on track for a strong year. Between April and June, 250 Mecklenburg County businesses added 2,157 jobs, added or improved 2.6 million square feet of commercial real estate, and made $320.2 million in capital investments.

Mid-year estimates paint a brighter picture than 2016. The 6,715 jobs created in the first half of 2017 is nearly 1,800 more than in 2016 and capital investment in the first six months of 2017 ($590 million) is up from $530 million during the same period last year.

Second-quarter activity reinforced Charlotte’s emerging status as a FinTech hub. Financial services company AXA made the largest announcement of the quarter adding 550 jobs and 140,000 square feet to its University City facility, followed by IT consulting firm Sitehands’ June announcement that the company would add 249 jobs over the next five years in the newly opened 615 South College building. Payments company PCI Pal added 10 new jobs and Sunlight Financial, a solar lender, announced another 25 jobs after adding 40 in 2016. AvidXchange, which now employs 900 in Charlotte, also announced a new partnership with Mastercard to create a business-to-business hub for small and midsize companies.

General economic indicators remained steady or improved during the quarter, with unemployment remaining at 4.1 percent. Average home prices soared to $320,000 in June, a 6 percent increase over June 2016.


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