Charlotte, North Carolina's top industries continue to grow, making the Queen City a leader in business economic growth and stability. The city offers friendly hospitality and southern charm and is now the eighth fastest-growing city in the United States. Charlotte is home to many Fortune 500 companies, including Bank of America, Honeywell, Duke Energy, and Wells Fargo. Charlotte also has several top industries that keep this region steadily growing. These industries include banking, manufacturing, automotive, energy, health, and technology.
Banking
Charlotte is one of the major banking headquarters in the United States and provides 91,000 financial services jobs. Banking and finance have always been a key industry for the city dating back to the gold rush of the early 1800s and the opening of a Federal Reserve Bank branch in 1927. Charlotte has the third-highest concentration of financial services talent among the top 50 metros. It is home to the Bank of America headquarters, which employs more than 15,000 workers in the area. It is also the home base for the Wells Fargo East Coast division employing over 25,000 individuals.
Manufacturing
Manufacturing has surpassed the national average two times since 2013 in Charlotte. The items manufactured in Charlotte include paper products, pulp, specialty chemicals, products for government and defense, commercial, energy, and industrial markets, electrical equipment, heavy equipment, textiles, steel, piping and fittings, battery separators, cellulose insulation, residential and commercial windows, wood treatments, packaging products such as bubble wrap, and snack foods. These products are produced by over 3,000 manufacturers in the area. Over the last four years, the state’s manufacturing workforce has grown by four percent.
Automotive
The automotive industry provides many jobs in Charlotte. It is home to more than 250 automotive manufacturing establishments. These range from heavy-duty trucking to brake system manufacturing. This industry has grown by 30% since 2011. North Carolina also houses numerous programs and research centers to help drive the automotive industry. Twenty-five of North America's top 100 OEM automotive part suppliers have operations in North Carolina.
Energy
North Carolina has become a leader in renewable technology. It’s the first state to adopt a Renewable Portfolio Standard (RPS). Many energy companies chose North Carolina for its location, innovation, and low business costs. It now has three active nuclear plants, 50+ hydroelectric and natural gas power plants, 425+ solar and wind production companies, and 100+ biofuel firms.
Health
Charlotte is home to many unique healthcare research and development centers. More than 22,000 individuals are employed in biopharmaceuticals and biotech here in the city. There are more than 111 healthcare organizations in the area—the two most prominent being Atrium Health and Novant Health. Atrium Health provides healthcare at more than 1400 locations and 40 hospitals across the states of North Carolina and South Carolina. It is also a part of Advocate Health, which is the fifth-largest non-profit health system in the United States. Novant Health organization employs over 28,000 workers. It offers many jobs here in Charlotte, including outpatient centers, physician practices, medical services, and hospitals.
Technology
There has been a steep rise in technological demand over the last few years, and Charlotte has one of the most active tech markets in North America. According to CompTIA, the city employs 99,705 tech professionals. Most of these individuals work in software engineering, web development, and cybersecurity. Passport Inc, a significant contributor of programs to support transportation and mobility, has its headquarters right here in Charlotte.
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Charlotte, North Carolina Continues to Rise
Charlotte continues to rise, with its positive economic outlook supported by multiple industries. This region offers its residents a starting point for a new and successful career, with multiple industries and national and international businesses. The city is estimated to reach 45.2 percent employment, while the overall U.S. job market will be 33.5 percent.
Dye Culik PC is a business and franchise law firm in Charlotte, North Carolina. We chose to locate our firm in Charlotte because of the strong economic outlook and support of businesses. We're here to help with your business needs, contact us today to set up your consultation at our place or yours.