The Growth Report
Regional Job and Population Growth Remain on the Rise
The Charlotte Region is off to a great start as the home to the future headquarters of the soon-to-be sixth largest bank in the country. The yet-to-be named bank was created by the BB&T and SunTrust merger.
Momentum remains high in other key sectors such as advanced manufacturing and distribution. Design Foundry, a furniture manufacturer in Catawba County, announced it would add 202 jobs. BestCo, a manufacturer of health care products, announced 141 new jobs in Iredell County, and two major automation companies – Eclipse Automation in York County and Pester Pac in Mecklenburg – announced expansions or relocations as well.
The announcement of a 22-job expansion at Keselowski Advanced Manufacturing in Iredell County underscores the importance of the automotive industry in the region. Newly released research from the Charlotte Regional Business Alliance finds that the Charlotte Region’s automotive manufacturing industry has grown by 38 percent since 2010 and is particularly strong in Motor Vehicle Parts Manufacturing, with more than three times the national average workers and four times the national average of power transmission equipment manufacturing workers.
Overall, the region’s economy closed out its eighth straight year of net new job growth, adding more than 8,000 jobs according to preliminary estimates. The region has added new jobs every quarter since 4Q 2010.
Chuck McShane, Ph.D., Vice President of Business Analytics and Data
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