Mecklenburg County | Capital Analytics Associates

Local leaders optimistic amid Charlotte’s latest jobs ranking

By: Felipe Rivas

2 min read January 2020 — The Queen City closed out the decade as one of the hottest markets in the nation, especially in the southeast. Millennials, Fortune 500 companies, and even a new soccer team want to be fully established in Charlotte and tap into its growth. And while the region offers a robust, tech- and financial services-savvy workforce, and is steadily diversifying its economy, a new report puts Charlotte in the middle of the pack for best cities for jobs in 2020. However, local market leaders across industries say job opportunities will remain sustainable for 2020, especially in the technology, law, and real estate sectors.

A new report by WalletHub puts Charlotte at No. 104 on its ranking of “2020’s Best Cities for Jobs.” The personal finance website compared more than 180 U.S. cities across 31 indicators of job-market strength, such as employment growth and monthly average starting salary. Scottsdale, Arizona, took the top spot, and Detroit, Michigan, came in last at No. 182. Other major North Carolina metros received mixed reviews, with Raleigh cracking the Top 50 at No. 48, and Fayetteville listed before Detroit at No. 181. Though the report listed Charlotte as middle of the pack for jobs compared to other cities, the technology, law and real estate sectors will continue to provide opportunities for the region’s workforce, local leaders say.

Charlotte is quickly becoming a tech town, as evidenced by the different tech-based companies that relocated to the region in the latter half of the last decade. “In the Charlotte market, the technology talent pool is growing at a rapid pace, largely driven by companies like Red Ventures, LendingTree, and AvidXchange,” JLL Market Director Chase Monroe told Invest: Charlotte. “There has been a need for high-tech talent. Locally, there has been investment in the school system to drive technological education.” Charlotte’s banking legacy, coupled with the fintech that is coming out of the banking system, is also fueling the technology sector and driving talent to the Queen City, Monroe said. “Those factors have allowed Charlotte to be a top recruiter for multiple tech-based opportunities across industries. Recruiting and retention of talent has been a huge factor in the Charlotte Metro Area.”

Similarly, the legal sector has evolved with the growth of the city and has a positive outlook heading into the new decade. “I don’t see anything but good things for the legal profession here,” Poyner Spruill Partner Tate Ogburn told Invest: Charlotte. “Charlotte has grown for the two decades that I have lived here, and I don’t see that dramatically changing.” The legal needs of companies evolve with the economic diversification and growth of the region, which creates opportunities for legal professionals, he said. “It is still a place where people want to be and there are more opportunities with new and more sophisticated companies coming in for the legal sector to continue growing. There are a lot of opportunities in terms of new clients and people, and different types of work as well,” Ogburn said.

Real estate and development provide investor confidence and opportunities for the workforce as Charlotte continues to grow. “I’ve been at this for 40 years and the real estate market in Charlotte is the strongest, most robust I’ve ever seen,” Northwood CEO Ned Curran told Invest: Charlotte. He highlighted the growth of the residential, industrial and commercial sectors. “Residential leads the way. It has not slowed like in other cities. Distribution and manufacturing continue to grow, and we have a unique distribution hub of state highways and rail networks associated with the airport. The office sector has trailed a little, but in recent years it has been catching up, which is a reflection of job growth,” he said. Curran expects the growth to continue during an election year and beyond while expressing confidence in the region and its economic diversification, which will allow the region to be better prepared in the event of an economic downturn, he said. “We will continue to grow across all sectors. We continue to diversify our economy, which only gives us greater strength. When there is a downturn in the economy, not everybody suffers. Some have disadvantages, some have advantages, but we are all components of an economic system and with our great diversity, we will be able to weather it better.”

To learn more about our interviewees, visit:

https://wallethub.com/edu/best-cities-for-jobs/2173/#methodology

https://www.us.jll.com/en/locations/southeast/carolinas

https://www.poynerspruill.com/

https://www.northwoodoffice.com/

Public-Private Partners Devise Future of Queen City

By: Felipe Rivas

2 min read January 2020 — In the last decade, Charlotte rose from the devastating effects of the Great Recession to become the 16th-most populous city in the United States. The Queen City has experienced continuous years of growth thanks to the diversification of its economy, its budding headquarters relocation culture, steady commercial and residential development, and its “cool” appeal favored by the young workforce moving to Charlotte and its surrounding region. As the city prepares for another decade of evolution, growth, and development, public and private partners have their eyes set on the year 2040. Several complementary plans are underway that will help guide the future of Center City, the city of Charlotte and Mecklenburg County for the next 20 years.

Spearheaded by nonprofit Charlotte Center City Partners, in partnership with the city and county, the “ALL IN 2040” plan aims to establish a new blueprint for the growth and development of Center City, an area that encompasses Uptown and South End. Simultaneously, the city of Charlotte is working on its 2040 Comprehensive Plan, which will guide the growth of Charlotte overall, while Mecklenburg County rewrites its Park and Recreation master plan.

Michael Smith, president and CEO of Charlotte Center City Partners, said the Queen City has a strong legacy of careful planning for long-term development. “We’ve had four decades of deliberate planning and this decade has really defined Charlotte,” Smith told Invest: Charlotte. “Charlotte has launched a new, renewed Center City vision for 2040, called the ‘ALL IN’ plan. This is a great opportunity for Charlotte to carry on its legacy of planning. This is a 50-year tradition of creating these blueprints, each time looking several decades ahead, but renewing that vision every 10 years. This provides us with an opportunity to listen to our community, and to bring subject-matter experts in to help us understand some of the best practices around the world,” he said.

Much of the successful growth and development in Charlotte that occurred in the past decade was a result of strong public-private partnerships, which the “ALL IN 2040” plan will continue to develop and strengthen. “The plans and projects are co-created and co-owned with the private sector. In Charlotte over the last 50 years, we’ve had the public sector making transformative, shaping, stimulating investments in infrastructure, and the private sector responding in a collaborative way,” Smith said.

Infrastructure will be a strong focus of the “ALL IN 2040” plan, as well as the city’s 2040 Comprehensive Plan. “With the growth we have, we know we have to invest in transportation,” Smith said. Both plans account for major transit expansions to the city’s rapid bus transit and light rail systems. “All that infrastructure development is really needed as the city is booming with construction on the residential, office and hospitality fronts. Right now, there are almost 2.2 million square feet of office space under construction. Of that, there are about 700,000 square feet in South End, and more in Uptown. This is not speculative; there is a lot of pre-leased space in South End. As a matter of fact, about 90% of what’s under construction is pre-leased. It provides us with great confidence,” he said.

The “ALL IN 2040” plan and similar city and county efforts are meant to complement one another. Throughout 2020, residents are encouraged to attend public engagement sessions where they can give their input regarding the future of Charlotte and Mecklenburg County.

By the end of the process, a final draft will be created that will eventually head to the city council for approval and implementation.

To learn more, visit:

https://www.charlottecentercity.org

https://www.allin2040.com/plan

Big Reveal: A New Look for Charlotte’s Main Library

By: Felipe Rivas

2 min read November 2019 — In the information age, knowledge is power. As Charlotte continues to attract top-level companies and talent across multiple industries to the region, Mecklenburg County wants to provide Charlotteans a sleek, modern, and highly technological space to study, learn, and absorb information. The Charlotte Mecklenburg Library unveiled the design plans for its new $135 million, 115,000-square-foot Main Library in Uptown Charlotte. The design features five levels and one lower level, two outdoor terraces, immersive theaters, conference rooms, and a revamped Robinson-Spangler Carolina Room. The plans were revealed two days after voters rejected an arts- and education-related sales tax increase.

The new Main Library will be made possible via a public-private partnership. According to the Charlotte Mecklenburg Library, the county has committed $65 million to the project. The library’s foundation will raise the remaining $70 million through a new campaign, called CommonSpark. Reportedly, the Knight Foundation pledged a $10 million donation to the new library on Thursday. Demolition is slated for 2021, with an expected completion date of 2024.

The plans for the new Main Library come after Mecklenburg County voters rejected a 0.25% sales tax increase that would have funded art, education, parks and more for Charlotte. If passed, the sales tax would have increased from its current 7.25% to 7.5%. Sales tax advocates, which included the Charlotte Regional Business Alliance, estimated the tax would raise around $50 million a year for arts and education-related initiatives.

Though voters rejected the sales tax, the new library is part of the vision for Uptown Charlotte as the area continues to develop. “The new main library will be an architecturally-distinctive, state-of-the-art, technologically-advanced knowledge center and public commons, where everyone in our community can access the resources of a 21st-century library,” said Charlotte Mecklenburg Library CEO Lee Keesler in a press release. “The new Main Library helps further our mission to improve lives and build a stronger community by strengthening public engagement, supporting economic opportunity and connecting community resources.”

The Charlotte Mecklenburg Library system is comprised of 20 libraries and it serves more than 1 million residents, according to its website. The Main Library design plans account for a job training center, counseling services space, along with the core technology and maker space offerings, including a technology center, computer lab, digital visualization lab, and recording studios. Two outdoor terraces will overlook Tryon Street and Uptown Charlotte, giving visitors a front-and-center look at the transformation of the area.

For more information visit:

https://cmlibrary.org

Local leaders optimistic amid Charlotte’s latest jobs ranking

Public-Private Partners Devise Future of Queen City

Big Reveal: A New Look for Charlotte’s Main Library

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