Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

North Carolina Named No. 3 State for Business

8/13/2019
CNBC has ranked North Carolina the No. 3 state for business in its annual America’s Top States for Business study.

Conducted each year since 2007, the study ranks all 50 states based on 60 metrics in 10 categories, including Workforce, Economy, Quality of Life and Cost of Doing Business.

North Carolina ranked 3 banner

This year, North Carolina received 1,586 out of a possible 2,500 points, beat narrowly by Texas (1,589 points) and Virginia (1,610 points).

“While economic growth here pales in comparison to Washington and Utah, no state’s economy is on more solid ground than the Tar Heel state,” according to CNBC. “The housing market is healthy, and state finances are sound. The state attracted some $2.6 billion in venture capital in 2018, the 6th highest figure in the nation. It is also attracting skilled workers, who are moving to North Carolina in droves.”

Charlotte has emerged as a top hub for new business, attracting companies in the tech and banking industries. Since the establishment of the Federal Reserve’s Charlotte office in 1927, Charlotte has been a major financial hub in the U.S., and is currently the second largest. Financial institutions such as Bank of America, Wells Fargo, Ally Bank, BB&T, Barings and Ernst and Young all have a significant presence in the Queen City, and have become natural catalysts for creating a large fintech hub. In fact, Cushman & Wakefield named Charlotte one of the Top 25 Tech Cities in 2018.

The recent merger between the Charlotte Chamber and Charlotte Regional Partnership to form the Charlotte Regional Business Alliance created an efficient mechanism for economic development, one that appears to be firing on all cylinders. Halfway through 2019, Charlotte has won the headquarters of newly formed Truist Bank (bank merger between BB&T and SunTrust) as well as large corporate office centers that include esteemed companies such as Lowe’s, Honeywell, Lending Tree and a Chewy.com distribution center that created more than 5,000 new jobs to the Queen City.

Access to capital needed to perpetuate growth, as well as the advantage of being near institutional banks (customers), offer startups—as well as established fintech companies—numerous opportunities in Charlotte. Banks also provide an enormous talent pool of employees that fintech startups can tap into. Synergy between Charlotte’s financial institutions and its growing fintech industry will continue as the modern financial marketplace evolves and implements technological innovation.

From Q2 2018 to Q2 2019, Charlotte added 26,700 new jobs and stayed at a low unemployment rate of 3.7%. With a growing tech workforce, a booming financial industry and a strong millennial growth rate, Charlotte is poised to be a forerunner of economic expansion not only in the Southeast but in the United States.

Related Insights

Charlotte talent on the move
Article • Workplace

CHARLOTTE - Talent On The Move

Many narratives have arisen during the pandemic about the permanent shifts that will change the way people live and work. Often, these are expressed as dichotomies; that people and companies must choose between two extremes. However, many of these “shifts” are built on complex, longer-term trends that offer nuanced solutions for occupiers and their employees. The Sunbelt region has emerged as a key beneficiary.

6/8/2021
Charlotte Skyline
News • Workplace

CHARLOTTE - Best Places to Work

Cushman & Wakefield’s Charlotte office has been named a Best Place to Work by the Charlotte Business Journal for the third year in a row. Only 50 companies in the Charlotte region were selected for this honor based on an employee survey process conducted by Quantum Workplace.
Savannah Durban • 11/23/2020
MAG team
News • Multifamily

ATLANTA - Sunbelt MAG Award

Cushman & Wakefield’s Sunbelt Multifamily Advisory Group has been named one of Globe St.’s “Multifamily Influencers” for 2020. The team is one of 10 to receive this honor this year.
Savannah Durban • 10/14/2020

Ready to talk?

Our professionals are ready to provide further details on this and many other topics.

Cushman & Wakefield uses cookies to analyze traffic and offer our customers the best experience on this website. Close this dialog to confirm your consent, or visit this page to learn more:
Cookie Notice

MORE OPTIONS
Agree and Close
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
AGREE ALL
REJECT ALL
SAVE SETTINGS