The Growth Report
Transportation and Warehousing Investments Power Charlotte's Job Growth
Charlotte-Mecklenburg businesses added 3,683 jobs and made more than $631 million in capital investments during the third quarter of 2018. Overall this year, 933 companies have added 10,004 jobs and made slightly more than $1 billion in capital investments.
That’s slightly fewer jobs than last year but considerably more capital investment (a 41.2 percent increase), led largely by investments in industrial buildings.
The Transportation and Warehousing sector showed the strongest job growth, led by Amazon’s announcement of a 1,500-job, $200 million distribution center, which accounted for nearly half of the announced job growth this quarter. This is the second major Amazon fulfillment center announced in Mecklenburg County in less than two years. And Amazon is not alone. The rise of online shopping and e-commerce has led to a shift in the geography of distribution centers – a shift Charlotte, within a 2-hour flight and one-day truck haul of 53 percent of the U.S. population, is poised to take advantage of. In fact, the Transportation and Warehousing sector has led any other sector in the Charlotte area in terms of job growth – increasing by nearly 11 percent in the past year alone.
Office expansions remained strong as well. Dental equipment maker Dentsply Sirona announced it would add 320 jobs and consolidate its commercial operations and training centers in Ballantyne. Dental equipment manufacturing remains a small industry, accounting for fewer than 300 jobs in the Charlotte MSA as of 2017, according to Economic Modeling Specialists, Inc. That’s still twice the national average concentration of jobs in the sector and, with Dentsply’s recent expansion, an indication that Charlotte is developing a competitive advantage in this industry.
Chuck McShane, Vice President, Business Analytics and Data
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