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Charlotte Talent on the Move

Will Propst • 6/8/2021

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.

Trends in corporate relocations have paralleled multifamily patterns, as Fortune 1000 firms’ headquarters shifted towards the Sunbelt and Mountain regions in the past decade (2010-2020.) Between 2019 and Q1 2021, 78 large corporations announced HQ moves, of which 68 are interstate. More than half of these announcements are leaving California, and the most common destination is the Sunbelt.

North Carolina boasts the 11th-highest concentration of Fortune 1000 companies in the U.S., with 32 headquartered in the state. The lower cost of doing business, high quality of life metrics, and growing college-educated workforce attracted five new firms to North Carolina over the past decade, more corporate adds than any other state.

Projected job growth in Charlotte is expected to exceed growth in gateway markets through 2030, and the Metro’s low cost of living, driven by slower home price growth, will continue to attract new residents in the coming decade. For more, check out the Talent on the Move: Where People Live & Work After COVID-19 report.

Charlotte talent on the move