The Good News Report

[jednc]

Mecklenburg employment statistics came out today. Besides the fact that the unemployment rate fell from 9.7% to 9.1%, the big news is we are now at peak employment. As of September, there are 5,100 more people working in Meck Co than any time previously, ever. The sole reason for the elevated unemployment rate is the even greater inflow of people into the labor force.

We have 11k more employees then this time last year, and 33k more than Sept 2009.

If I were to peer into my economic crystal ball, Charlotte will really kick it into high gear spring 2013. 2013 will probably be the 2nd best year in employment growth history after 2006 for Meck Co.

What is your source for this? It's not that I'm doubting your info at all. I want to post this news somewhere else and I'd like to cite a source (guess I could just link to your post ).

[atlrvr]

Info is from the NC ESC website. Here is the link to the filters. Select Counties/Mecklenubrg

http://eslmi03.esc.state.nc.us/ThematicLAUS/clfasp/startCLFSAAY.asp

[jednc]

Info is from the NC ESC website. Here is the link to the filters. Select Counties/Mecklenubrg

http://eslmi03.esc.s...tartCLFSAAY.asp

Thanks!

[atlrvr]

CoreLogic, the residenital real estate market reporting company, signed a lease for 31,000 sf recently. I believe this is their first Charlotte office, and at that size, would probably accomodate 100-125 employees.

[kermit]

The Observer has a substanceless report that George K. Baum & Co (and Investment bank according to the Observer) is opening an office in Charlotte specializing in public finance.

http://obsbankwatch.blogspot.com/2012/11/another-investment-bank-opens-charlotte.html

[atlrvr]

Schleich, the German company that makes the little toy animals and people is moving its North American HQ and distribution from Canada to Charlotte.

[tozmervo]

^ that must be the most adorable R&D department ever

[cltbwimob]

S&D coffee is expanding in Concord and adding 200 jobs

[kermit]

Swing state dividends (along with a strong showing at the DNC) keep coming for Charlotte:

We will host the Rupublican National Comittee (not the convention) in January. While there is no firm relationship between this meeting and the big RNC it does sound like it will be an informal audition..

http://www.charlotteobserver.com/2012/11/27/3691627/charlotte-will-host-rnc-in-january.html

[cltbwimob]

Mecklenburg employment statistics came out today. Besides the fact that the unemployment rate fell from 9.7% to 9.1%, the big news is we are now at peak employment. As of September, there are 5,100 more people working in Meck Co than any time previously, ever. The sole reason for the elevated unemployment rate is the even greater inflow of people into the labor force.

We have 11k more employees then this time last year, and 33k more than Sept 2009.

If I were to peer into my economic crystal ball, Charlotte will really kick it into high gear spring 2013. 2013 will probably be the 2nd best year in employment growth history after 2006 for Meck Co.

Charlotte area unemployment has now dropped to 8.6% according to the bizjournal:

http://www.bizjournals.com/charlotte/news/2012/11/27/charlotte-area-unemployment-falls-to.html

[ah59396]

http://www.bizjournals.com/charlotte/blog/bank_notes/2012/11/bank-of-america-relocating-southeast.html

I like this article. Hopefully it will help further silence any critics who think BOA isn't invested in Charlotte and also further points to the fact that Charlotte IS the energy hub of the south east.

[atlrvr]

Vanguard (big mutual fund company) announced that they currently have 57 openings in Charlotte, and are planning for 88 new positions in 2013.

 

Edit.  The big money managers in Charlotte (Vanguard, TIAA-CREF, Babson Capital, and LPL, sort of) all are growing at a pretty healthy rate.  I would love to see Charlotte focus on recruiting more of this business to Charlotte as they are good paying jobs as well with employment not as directly linked to the economy as a bank and would diversify/enhance our claim as a financial center.  There are smaller outposts here of some larger firms, but it would be great to try to draw at least back-office jobs from companies like Putnam, Legg Mason, MFS, Morningstar, etc.  Certainly cheaper to be here than Boston where a lot of companies are (Fidelity unfortunately picked Research Triangle several years ago and have a huge operation there). 

[atlrvr]

^{Jeld-Wen is moving its "North American" HQs to Charlotte, but leaving its "World" HQ in Oregon.  I would expect that to quitely shift to Charlotte in the future as well.}

 

^{As part of the HQ, there will be 142 new jobs paying $94k+ on average.} 

 

^{So at 142 jobs, that shold be about 40k sq ft of office space.  Interestingly, Center City Partners was name as an agency listed as assisting in their relocation, so maybe Uptown office space.}

 

^{http://www.bizjournals.com/charlotte/news/2012/12/13/jeld-wen-to-move-hq-to-charlotte-from.html}

[rooster8]

JELD-WEN announced they are locating their North American HQ and 142 jobs in Charlotte while maintaining their global HQ in Klamath Falls.  

[atlrvr]

^{Jeld-Wen is moving its "North American" HQs to Charlotte, but leaving its "World" HQ in Oregon.  I would expect that to quitely shift to Charlotte in the future as well.}

 

^{As part of the HQ, there will be 142 new jobs paying $94k+ on average.} 

 

^{So at 142 jobs, that shold be about 40k sq ft of office space.  Interestingly, Center City Partners was name as an agency listed as assisting in their relocation, so maybe Uptown office space.}

 

^{http://www.bizjournals.com/charlotte/news/2012/12/13/jeld-wen-to-move-hq-to-charlotte-from.html}

 

CBJ is reporting that Jeld-Wen is negotaiating for 1 full floor at Ally Center.  That confirms that they are moving Uptown which is great.  1 floor seems small though, and would think they need at least 1 1/2 or that will be some seriously cramped work-space.  Maybe they have an option to expand.  In total, they have 600 HQ staff in Oregon, and my guess is the majority end up here eventually.

[kermit]

Wells Fargo's expansion into 'alternative investments' and wealth management (a core function of the old Wachovia) bodes well for expanding employment of Charlotte high-wage bankers. Several news stories like the blurb below from the equivalent of the San Francisco business journal explain why Wells moved into the never-used Wachovia trading floor in the power tower.

 

My fingers are crossed that Charlotte's infrastructure and residual talent base (and time zone) combined with the absence of Wells space in New York will mean good things for Charlotte center city employment.

 

http://www.bizjournals.com/sanfrancisco/blog/2012/12/wells-fargo-hedge-funds-rock-creek.html

 

EDIT: and the same day the Observer asks Brian Moynihan about Charlotte and he offers positive statements (but it sounded kinda tepid to me)

 

http://www.charlotteobserver.com/2012/12/19/3736090/bofas-moynihan-on-charlotte-this.html

Edited December 19, 2012 by kermit

[ah59396]

The good news is:

Happy 2013 folks. Lets hope it's prosperous and joyful for us and Charlotte!

Cheers.

[Urbanity]

In a bit of a about-time move, NASCAR is moving its Digital offerings (mobile service and apps) to Charlotte (NASCAR building) from Atlanta with 50 people already hired and 20 more expected.

 

While not a huge job number, I do like that they are adding tech jobs.  It also adds more sense of things happening with the building.  

 

http://www.charlotteobserver.com/2013/01/01/3759977/nascar-digital-moving-to-charlotte.html

[Prodev]

The good news is:

Happy 2013 folks. Lets hope it's prosperous and joyful for us and Charlotte!

Cheers.

Despite a lot of uncertainty and certain local execs being weary of the road ahead for our local economy, I'm extremely optimistic for 2013 and what's ahead for Charlotte. After living in several other cities in the last 10 years and only having lived in Charlotte for a total of 4 years (been back 2 years now), I have more pride for this city than I have for all the others combined and see so much more potential here. I think the activity on these boards versus some of the others also speaks to the involvement and pride others share for our city, which is encouraging. I think there's a lot to be said for the relationship between pride and progress. That's my two cents!

[Urbanity]

Those cranes don't lie...

 

The Charlotte metropolitan area gained roughly 2,200 construction jobs last year, according to a new analysis by the Associated General Contractors of America. 

North Carolina, meanwhile, lost nearly 4,000 construction jobs during 2012, according to non-seasonally adjusted figures.

 

The Charlotte area grew its jobs by 6 percent, ranking the city 43rd out of 337 in terms of growth.

 

Read more here: http://cltdevelopment.blogspot.com/2013/01/charlotte-gained-construction-jobs-in.html#storylink=cpy

Edited January 28, 2013 by Urbanity

[michaelef]

Charlotte makes two top ten lists in the past week! 

http://finance.yahoo.com/news/top-10-moving-destinations-in-the-u-s--171704356.html

 

http://finance.yahoo.com/news/the-10-best-cities-for-job-seekers-195522601.html

[tozmervo]

Heh, I hate 6 of the 10 cities on that first list. Not a great bunch to be in with IMO

[nowensone]

So you like Charlotte, Seattle, Denver and Chicago huh?  

[kermit]

CBJ is reporting that Jeld-Wen is negotaiating for 1 full floor at Ally Center.  That confirms that they are moving Uptown which is great.  1 floor seems small though, and would think they need at least 1 1/2 or that will be some seriously cramped work-space.  Maybe they have an option to expand.  In total, they have 600 HQ staff in Oregon, and my guess is the majority end up here eventually.

 

CBJ reports that Jeld-Wen signed their lease at Ally for 23,187 sq ft and will occupy in March. 163 sqft per projected worker -- I think this is pretty typical. (I don't know the size of a floor at Ally)

 

http://www.bizjournals.com/charlotte/blog/real_estate/2013/01/jeld-wen-signs-lease-at-ally-center.html?ana=e_du_pub&s=article_du&ed=2013-01-29

[Urbanity]

This isn't an economic development post per se so much as a thought, but with the announcement yesterday that the Metropolitan complex being sold for $94 million I realized that there has been a lot of major commercial property purchases in Charlotte the last few weeks/months which I think is good news as it shows investors betting on Charlotte continuing to grow.