NOTEWORTHY ARTICLES ON BUSINESS AND ECONOMIC DEVELOPMENT IN THE CHARLOTTE REGION
Daimler Trucks North America to Add 1,200 Jobs in Charlotte Region: "Daimler Trucks North America will add 1,101 jobs at its Freightliner truck plant in Rowan County, as well as boosting the work force at its Gastonia parts plant by about 100 employees." Daimler Trucks North America to Add 1,200 Jobs in Charlotte Region - Charlotte Business Journal, January 12, 2012
Siemens Energy's Charlotte Plant Lands $1B Saudi Contract: "Siemens Energy in Charlotte will ship the majority of $1 billion worth of turbines and generators to Saudi Arabia for construction of a 4,000-megawatt combined-cycle power plant in a deal announced Wednesday." Siemens Energy's Charlotte Plant Lands $1B Saudi Contract - Charlotte Business Journal, January 11, 2012
Chiquita Relocating Headquarters to Charlotte: "Chiquita Brands International, an iconic company whose name is almost synonymous with 'bananas,' said Tuesday that it will move its global headquarters to Charlotte next year, and bringing some 400 jobs."Chiquita Relocating Headquarters to Charlotte - Charlotte Observer, November 29, 2011
Best Value Cities 2011: Charlotte, N.C.: It's a banking mecca, and a wide green streak runs through it. "That clinking, clanking sound in Charlotte isn’t just America’s largest bank getting richer. It’s the sound of the New South growing. 'Charlotte is one of the best-kept secrets in the country,' says Mayor Anthony Foxx.' Banking is the biggest business in town. Bank of America is headquartered here, and until recently, so was Wachovia, making Charlotte the second largest banking city in the country. But the economy is well diversified - from the headquarters of Fortune 500 companies such as Lowe’s, Family Dollar Stores and steel company Nucor to a host of small companies, which make up 90% of the businesses in Charlotte. Charlotte is fast becoming an energy hub as well. Its location - midway between Virginia Tech and Georgia Tech, as well as halfway between NC State and Clemson - puts it in a sweet spot for tapping engineering talent. Duke Energy, also headquartered here, is poised to become the largest utility in the country. Siemens Energy and Toshiba’s nuclear power engineering center are adding jobs. There are more than 125 companies in green industries, and the city hopes to reduce energy use downtown by 20% by 2016. To accommodate electric vehicles, 26 charging stations are being sprinkled around town." Best Value Cities 2011: Charlotte, N.C. - Kiplinger Personal Finance, September 2011
Time Warner Cable Plans Data Center in Charlotte: "North Carolina Governor Bev Perdue is getting plenty of experience unveiling new data center projects. Today Perdue announced that Time Warner Cable will invest $101 million in an expansion of its campus in Charlotte, which will include a 178,000 square foot data center. The project is scheduled to be completed by the end of 2012, but will be designed so that Time Warner Cable can double the size of the data center to accommodate future growth. 'Time Warner Cable looked around the country, and they chose North Carolina,' said Perdue. The project adds to a growing list of data center wins for North Carolina, which includes facilities for Google, Apple, Facebook, Wipro/Infocrossing, American Express and perhaps Walt Disney." Time Warner Cable Plans Data Center in Charlotte - Data Center Knowledge, July 11, 2011
Duke Energy Center Adds Focus on Fitness: Flex + Fit will fill a big space with unique plan. "Shama Patel didn't enjoy her job as a corporate lawyer in Chicago, but she did love her gym. The Greensboro native had previously worked in Charlotte as a consultant uptown with Accenture. But while living here, she never found a fitness club entirely to her liking. In Chicago, where she worked for a large firm, she joined the East Bank Club, a well-known exercise, recreation and dining facility. 'I just loved the atmosphere and the social aspect,' says Patel, 28. 'I remember when I was (in Charlotte), there just weren’t any alternatives that I was happy with. I wanted to create something that was a fun place to go where it didn’t really feel like you were working out, but you were being healthy in the process.' Patel is fulfilling that New Year’s resolution by opening a 10,000-square-foot health club in the Duke Energy Center called Flex + Fit." Duke Energy Center Adds Focus on Fitness - Charlotte Business Journal, January 7, 2011 One Piece at a Time: "The South is hotter than most of the rest of the U.S. in more ways than one. The map on this issue's cover could just as easily be a mid-summer temperature map as one depicting, in general terms, the states with the best business climates in 2010. The top five states - with North Carolina at the top of the list for the ninth time in 10 years - are solidly southern, and three more are, for a total of eight, in the top 10."One Piece at a Time - Site Selection, November, 2010
Chinese Firm to Take Space in Charlotte's NorthPark for Plant: "A Chinese maker of roll film and ribbons for bar-code printers will open a factory and distribution center in Charlotte with plans to employ 50 workers within three years. Todaytec's 12,200 square foot facility in the NorthPark Business Center will be the Asian manufacturer's only location in North America. It will be the base of operations for serving customers in the United States, Canada and Mexico...Donald Beck of Charlotte-based Beck Commercial Properties represented the company." Chinese Firm to Take Space in Charlotte's NorthPark for Plant - Charlotte Business Journal, April 12, 2010
North Carolina - 2010 Lowest State & Local Tax Burden on Business: A
March 2010 study prepared by Ernst & Young and the Council on State
Taxation (COST), revealed that North Carolina had the lowest total
effective business tax rate ("TEBTR") based on "detailed, state-by-state
estimates of the state and local taxes paid by businesses for fiscal
year 2009." Total
State and Local Business Taxes - a report by Ernst & Young and
the Council on State Taxation, March 2010.
Husqvarna to Hire 160 in Charlotte: "Husqvarna will bring 160 jobs to the area and receive $2 million in job-development grants as it establishes its North and Latin American headquarters in north Charlotte."Husqvarna to Hire 160 in Charlotte - Charlotte Business Journal, January 7, 2010
Electrolux's HQ for North America to Bring 738 Jobs: Swedish appliance maker plans to move here, consolidate operations in University City area."Swedish appliance maker Electrolux said Wednesday it will move its North American headquarters to Charlotte, bringing 738 jobs and millions in payroll, in the city's largest headquarters announcement in 25 years." Electrolux's HQ for North America to Bring 738 Jobs - Charlotte Observer, December 17, 2009
Bank of America Names Moynihan CEO, Commits to Charlotte: Leader says bank's headquarters, and his office, will be in Charlotte. "Bank of America's board late Wednesday unanimously named Brian Moynihan the Charlotte bank's next chief executive, depending on him to lead the bank out of a recession and into a new age of regulation of the industry. The bank's headquarters will remain here, Moynihan said in an interview, adding that his office will be in Charlotte. Moynihan's Boston ties had raised concerns about his commitment to Charlotte. 'We're committed to maintaining everything we do for Charlotte,' said Moynihan, a Boston-based executive who said he hadn't thought about where he will live yet. 'It's just that simple.'" Bank of America Names Moynihan CEO, Commits to Charlotte - Charlotte Observer, December 17, 2009 Watch and Learn: "How has North Carolina managed to rank No. 1 in Site Selection's annual business climate rankings eight times in the past nine years? It may have something to do with its infrastructure of higher learning." Watch and Learn - Site Selection, November, 2009
Premiere, Inc., to Move HQ to Charlotte: "Premier, Inc., is making Charlotte its corporate home, moving its headquarters from San Diego and adding 300 jobs here over the next five years. Premier, the largest health-care alliance in the country, currently employs 750 in Charlotte." Premiere, Inc., to Move HQ to Charlotte - Charlotte Business Journal, October 14, 2009.
Small City Picks a Big Plum in Apple: Technology giant will build a $1 billion data center in Maiden, enticed by millions in taxpayer incentives. "N.C. Secretary of Commerce Keith Crisco called the project the largest investment in state history. 'It's a big deal,' he said. 'The ripple effect will be enormous.' For its part, North Carolina kicked in a multimillion-dollar tax break ? $46 million over a decade for Apple's pledge to build the data center here and hire 50 fulltime employees. Crisco said the Apple data center represents the target for the next generation of North Carolina's economic development. As North Carolina's economy shifts away from manufacturing, it is the latest in a string of technology-related recruitments, including Google, which received an incentives deal in 2007 totaling about $260 million over 30 years for its data center in Lenoir." Small City Picks a Big Plum in Apple - Charlotte Observer, July 7, 2009 NACA to Add More than 1,000 Jobs in Charlotte: "The Neighborhood Assistance Corp. of America plans to ramp up its affordable lending programs by adding more than 1,000 employees to its Charlotte office. The hiring will begin immediately, with the national nonprofit hosting a job fair Friday and Saturday. NACA focuses on lending to low- and moderate-income families. Gov. Bev Perdue announced the expansion Thursday, with the state giving NACA a $1 million grant from the One North Carolina Fund. It plans to invest more than $4 million here, with 1,014 jobs expected to be added over the next five years. 'North Carolina remains a strong presence in the U.S. finance sector, and this is a tremendous opportunity for the Charlotte-area,' Perdue said. 'Our top-rated business climate and skilled financial-services work force are attractive to growing national operations.'" NACA to Add More than 1,000 Jobs in Charlotte - Charlotte Business Journal, June 11, 2009 Siemens to Invest $50M, Add 226 Jobs in Charlotte: "Siemens Energy, Inc., says it will create 226 engineering jobs and invest $50 million to expand its Charlotte operations over the next five years. The company, based in Orlando, Fla., currently has 740 workers at its 550,000-square-foot manufacturing facility on Westinghouse Boulevard. The new jobs will include engineering employees and manufacturing workers, and they will be housed in a new, 75,000-square-foot office facility adjacent to the existing manufacturing plant. The company will be eligible for $2.74 million in state incentives over nine years if it sustains the new jobs. If approved, Siemens also will receive up to $2.3 million over five years from the city and county." Siemens to Invest $50M, Add 226 Jobs in Charlotte - Charlotte Business Journal, May 14, 2009
Goodrich Corporation Acquires Cloud Cap Technology, Inc. - CHARLOTTE, NC - "Goodrich Corporation (NYSE: GR) has acquired Cloud Cap Technology, Inc. (CCT), a leading provider of proprietary end-to-end avionics solutions for small unmanned aerial vehicles (UAV) and sensors for manned vehicles.Primary products include autopilot flight management systems, inertial measurement sensors and stabilized imaging microgimbals."Goodrich Corporation Acquires Cloud Cap Technology, Inc. - BusinessWeek, May 12, 2009
Toshiba to Bring 194 Mecklenburg Jobs: "Toshiba America Nuclear Energy is opening a national project-management and engineering center in Charlotte and will create 194 jobs here over the next five years. The nuclear engineering and construction management jobs will carry an average annual wage of $122,037, excluding benefits. TANE will invest $2.8 million and will receive up to $4.9 million over nine years through a job-development investment grant awarded by the state?s economic-investment committee this morning." Toshiba to Bring 194 Mecklenburg Jobs - Charlotte Business Journal, April 28, 2009
Duke Energy Publishes 2008-2009 Sustainability Report - CHARLOTTE, NC -"Duke
Energy (NYSE: DUK) has issued its 2008-2009 Sustainability Report,
outlining the progress the company made in the second year of its
?ve-year plan for improving the 'triple bottom line' of environmental,
social and economic performance."Duke Energy Publishes 2008-2009 Sustainability Report - CSRwire, April 14, 2009
Family Dollar Profit Jumps 33%; Outlook Beats View - Charlotte, NC -"Discounter Family Dollar Stores Inc. said
Wednesday that its fiscal second-quarter profit rose 33%, aided by
shoppers seeking bargains in the economic downturn. The company also gave third-quarter and full-year profit forecasts that exceeded Wall Street expectations." Family Dollar Profit Jumps 33%; Outlook Beats View - MarketWatch, April 8, 2009 Best Places for Business and Careers: "Our 11th annual ranking of the Best Places for Business and Careers features clear winners in North Carolina and Colorado, home to a combined 10 of the 20 top metro areas."Best Places for Business and Careers - Forbes, March 25, 2009
The Best Places to Start a Small Business: "Looking for the best place to launch a new business during these turbulent times? Start your search in North Carolina. The two markets with the nation's top scores for small-business vitality, according to a new bizjournals study, sit 140 miles apart in the Tar Heel State. Raleigh is No. 1 in the national rankings, while Charlotte is No. 2." The Best Places to Start a Small Business - Bizjournals, February 2009
Bankrolling Biotech: "North Carolina's 10-year, $1-billion commitment pays dividends in the form of startups, spinouts and expansions that foster life-changing breakthroughs." Bankrolling Biotech - Site Selection, November 2008
North Carolina - 2008 Top State Business Climate: The Tar Heel State has no intention of ceding its Top Business Climate
ranking any time soon. For the fourth year in a row, and for the seventh time in eight years, North Carolina ranks first in Site Selection's annual state business climate analysis.Pedal to the Metal- Site Selection, November 2008 BofA and Merrill Lynch Agree to Deal: "Bank of America Corp. has agreed to acquire Merrill Lynch & Co. Inc. in a $50 billion deal that creates a global financial-services company. 'Acquiring one of the premier wealth-management, capital-markets and advisory companies is a great opportunity for our shareholders,' BofA Chairman and Chief Executive Ken Lewis said in a statement Monday morning. 'Together, our companies are more valuable because of the synergies in our businesses.'" BofA and Merrill Lynch Agree to Deal - Charlotte Business Journal, September 15, 2008 Daimler Trucks Buys York County Campus Site: "Daimler Trucks North America has purchased 396 undeveloped acres in York County, the company confirmed late Wednesday. The site is expected to eventually serve as an office campus for the Portland, Ore.-based company. The former Freightliner has said previously that the site is under consideration for an extensive office operation. But it has stopped short of saying whether it could eventually house a relocation of the corporate headquarters from Portland. The company has 3,150 employees there. S.C. officials have previously told the Charlotte Business Journal that the headquarters is in play." Daimler Trucks Buys York County Campus Site - Charlotte Business Journal, August 29, 2008
Fluor Adding 100 More Jobs in Charlotte: ?'Continued expected growth in the power market, coupled with the depth of professional resources in Charlotte, makes this an ideal location for Fluor to center its ongoing power business,' Trey Wills, executive director of the company?s Charlotte operations, says in a written statement." Fluor Adding 100 More Jobs in Charlotte - Charlotte Business Journal, August 15, 2008
Fitch Rates Charlotte Bonds AAA: "Fitch Ratings has assigned its AAA rating to Charlotte?s $350 million water- and sewer-system revenue bonds, series 2008." Fitch Rates Charlotte Bonds AAA - Charlotte Business Journal, August 15, 2008
Study: Charlotte a Place to Build Personal Wealth: "Charlotte may play second string to New York in banking assets, but at least it's easier for residents here to put away a little money. In a study on the relative value of earnings in 69 large cities ? being released today by Salary.com ? the city that never sleeps ranked dead last. Charlotte was No. 15, and Raleigh clocked in just behind at No. 17 (with Nashville in between)."Study: Charlotte A Place To Build Personal Wealth - Charlotte Observer, July 14, 2008 Charlotte, Raleigh Among U.S. Leaders in Population Growth: "Charlotte and Raleigh rank among the top 10 U.S. cities in population growth, and Charlotte has risen from the nation's 20th-largest city to its 19th, according to U.S. Census estimates released Wednesday." Charlotte, Raleigh Among U.S. Leaders in Population Growth - Charlotte Observer, July 14, 2008 TIAA-CREF Financing NC Research Campus Building: "TIAA-CREF views the NC Research Campus as a good investment - so good that it's putting money into the Kannapolis project. The firm is financing the first building scheduled to open at the research complex and is in discussions to finance two more, TIAA-CREF executives say." TIAA-CREF Financing NC Research Campus Building - Charlotte Business Journal, June 13, 2008
NC Growth Forecast at 2.2%: "North Carolina's economic growth will likely continue this year,
according to UNC Charlotte economist John Connaughton's quarterly
forecast. Connaughton forecasts the state's economy will grow 2.2 percent in
2008, marking the state's seventh consecutive year of expansion." NC Growth Forecast at 2.2% - Charlotte Business Journal, June 3, 2008
Pharmaceutical Product Development to Employ 300 in Kannapolis: "A Wilmington-based contract-research company will bring 300 private-sector jobs to the N.C. Research Campus in Kannapolis. Pharmaceutical Product Development Inc. will create the jobs over the next three years. Fred Eshelman, PPD founder, chief executive and vice chairman, said a trip to the $1.5 billion campus -- being developed by California billionaire David Murdock -- convinced him Kannapolis was the place for PPD." Pharmaceutical Product Development - Charlotte Business Journal, April 9, 2008
Best Places to Buy Foreclosed Homes: "Only today's bravest
buyers would consider homes in cities like Las Vegas and Tampa, where
rampant foreclosures are sinking already weak real estate markets. But
in markets in other cities, where there are hints of stabilization,
foreclosed properties might be a good investment. You'll find such
spots in the Sunbelt, home to Charlotte, N.C., Raleigh, N.C., Oklahoma
City, San Antonio, and Albuquerque, N.M. These five cities topped our
list of Best Places To Buy Foreclosed Homes." Best Places to Buy Foreclosed Homes - Forbes, March 19, 2008
Newcomer Claims Checkered Flag: "Thomasville-Lexington unseats entrenched incumbent to become the nation's No.1 Micropolitan Area for corporate projects." The location is one of five in the Charlotte Region that Site Selection identified on its list of Top Micropolitans of 2007; others include Statesville-Mooresville (North Carolina), Lincolnton (North Carolina), Shelby (North Carolina) and Lancaster (South Carolina). The annual ranking made North Carolina home to more top micropolitans than any state in the nation. Newcomer Claims Checkered Flag - Site Selection, March 2008
Transplants Head South: "The South was the top migration spot last year, according to United (Van Lines), which has tracked the moving patterns of its clients annually since 1977. Last year, United analyzed nearly 213,000 interstate moves it handled. The results showed that North Carolina attracted a bigger share of newcomers and had fewer residents leave than any other state." Transplants Head South - Charlotte Observer, January 8, 2008 The Best States for Business: "North Carolina has the second-lowest labor costs in the country (18%
below the national average), and incomes are projected to increase 3.8%
annually over the next five years, the second-fastest rate in the
country." The Best States for Business - Forbes, September 2007, (Table)
Top 20 Large Metros for Recruitment & Attraction: The National Policy Research Council ranked Charlotte-Gastonia-Rock Hill second out of twenty large metros for recruitment and attraction. Top 20 Large Metros for Recruitment & Attraction - Expansion Management, 2007