The Charlotte metro is the second-largest banking and finance hub in the nation, directly behind New York. Though the finance sector is a large driver of the economy, manufacturing, healthcare and energy industries play a pivotal role in the overall metro economy. The low cost of doing business attracts companies. Eight Fortune 500 companies have established headquarters in the region including, Bank of America, Lowe’s, Nucor, Duke Energy, Family Dollar, Sonic Automotive, Domtar, and SPX.
The strong labor force has helped make the metro business environment diverse with multinational business and local startup microbusinesses. As new companies move to the area, the GMP (Gross Municipal Product) will rise, expanding the metros recovery to pre-recession levels.
In the last 10 years, more than 7,000 new businesses contributed to the hiring of more than 57,000 employees. These companies occupy 94 million total square feet of floor space and represent $9.2 billion dollars in economic activity created during that time. Additionally, angel investors and venture capital make funding available for further expansion and innovation in the region.
Located between the Blue Ridge Mountains and coastal plains, the Charlotte metro stretches 3,198 square miles across the Piedmont region of the Southeastern United States.
Counties in the metro include Mecklenburg, Gaston, Union, Cabarrus, Iredell, Catawba, Rowan, Lincoln, Stanly, Alexander and Anson in North Carolina. South Carolina counties include York, Lancaster, Chesterfield and Chester counties.
The Charlotte metropolitan area includes 12 counties in North Carolina and four counties in South Carolina. The population has been one of the nation’s fastest growing metros in the past 15 years, expanding nearly 38 percent since 2000, with a population of 1.8 million citizens.