The last two months have been an exciting time for the Charlotte Regional Business Alliance Select CLT team with more than nine international and domestic trips to market the Charlotte Region. The team attended three direct marketing trips and six industry and conference events.
Here are a few key takeaways from the Select CLT travels around the globe:
Market focus is shifting
- European companies have shifted their expansion market priorities, reducing their focus on China due to serious concerns over acquisitions and IP integrity; the US is also less attractive due to growing concern over labor costs. Both Eastern Europe and Mexico however are being evaluated seriously for relocation or expansion
- Latin and South American technology & life science startups have a strong interest in our market
Projects are moving slower or not happening at all
- Builders are being brought into the process sooner and asking clients to consider moving their timelines up to accommodate for material shortages in order to meet the deadline to begin production
- Lack of engineering talent at the local government level is slowing down the process of many projects.
- Due to the economic climate many projects are being shelved and may not happen at all
Real Estate is being consolidated
- Some clients are electing to purchase more real estate than needed and plan to land bank and lease/sell for future profit
- Existing real estate has become harder to find as family offices are starting to step into the purchasing pool
- Economic developers should not be afraid to inquire more deeply with consultants about their client’s capital to ensure you have a sense of the viability of the prospective employer
The Select CLT team has been spotlighting the Charlotte Region across the world, creating buzz about the region’s economy and opportunities, and building relationships with business leaders and consultants.
Internationally, we visited Germany and Switzerland representing the Southeast Delegation while partnering with Parker Poe, Dorchester County and THS Construction for an impactful mission trip. The group met with several companies and shared why the Southeast is a prime location for business expansion and relocation.
Web Summit in Rio De Janeiro followed closely after where the Select CLT team showcased the many assets that make the Charlotte Region a prime market for companies in the fintech, AI, and innovation economy spaces. The Brazil 2023 Web Summit brought together 21,000 attendees in the tech industry including investors and startups sharing expertise and networking. The team gained valuable insight from industry leaders. Latin & South American tech and life science startups have a strong interest in our market and hope to further the relationships made at the event.
The team rounded out the international leg of travel in Stuttgart, Germany where we attended the Battery Show Conference which displayed the latest advanced battery and electric & hybrid vehicle technology. With more than 770 battery manufacturers in attendance, the team had a fantastic opportunity to network and talk about the Charlotte Region’s advanced and innovative economy.
Within the United States, Select CLT attended conferences and events in half a dozen cities.
Miami hosted the premier tech conference, eMerge Americas, with over 20,000 attendees and 4,000 tech companies from over 50 countries. We met with multiple companies to speak about the Charlotte Region’s innovation economy and opportunities for businesses.
The team then attended SelectUSA Investment Summit in Washington, D.C., and Interphex Global in New York. With over 4900 attendees from 82 international markets, we focused on FDI in the Charlotte Region at SelectUSA in D.C. and gained valuable insight into the Pharmaceutical and Biotech industry at Interphex. The Select CLT team showcased the Charlotte Region as a prime location for both industries, collaborating with EDPNC and Electricities of NC to promote the region and state’s assets.
The Select CLT team joined EDPNC for a consultant event to the Outer Banks, North Carolina where they met with several consultants working with businesses looking to relocate or expand into new markets.
The team had the opportunity to spend time with our South Carolina partners at the SCEDA Annual Conference in Isle of Palms, South Carolina. It was exciting to see our Chesterfield County partner, Libby Lear, receive the 2023 Truman H. Safford BEDC Scholarship.
IAMC Spring Forum in Biloxi, Mississippi offered speakers and discussions about industrial real estate outlooks, workforce and automation, and the impact of growing e-commerce.
We closed out the month of May attending NextGen Talks in Denver, Colorado. Next Gen Talks featured discussions around site location consultant and economic development practices and trends. The team also leveraged networking activities to grow relationships.
