Charlotte Regional Business Alliance
The Growth Report
Quarterly Report highlighting the region's economic growth.
The Growth Report
Continued growth for the region in 2019
The Charlotte Region closed out 2019 with big jobs announcements in two key sectors – technology and manufacturing.Download PDF
The Charlotte Region closed out 2019 with big jobs announcements in two key sectors – technology and manufacturing. Microsoft announced in October it would add 430 jobs at its southwest Charlotte headquarters, while homegrown data analytics startup Stratifyd announced plans to hire 200 additional people and open an expanded headquarters on Thrift Road in west Charlotte. In Catawba County, Cataler North America announced plans to invest $42 million in a second automotive catalyst manufacturing facility, which will include 151 new jobs. Cataler’s other facility is in Lincoln County.
While manufacturing job growth slowed in 2019 compared to previous years, some manufacturers made large capital investments in the region. New Indy Containerboard announced it would spend $240 million to upgrade its paper mill in York County, while Australian company Oceana Gold announced it would invest $250 million into expanding the Haile Gold Mine in Lancaster County.
Overall job and Regional GDP growth continued to outpace national averages, while also slowing down compared to previous years. Unemployment rates continued to fall, hitting 3.1% in December, the lowest unemployment on record for the metro area since April 2000.
International activity continued during 2019 with 25 international companies announcing relocations or expansions in the Charlotte Region, totaling more than 1,300 jobs and $200 million in capital investments. German, Japanese and Canadian companies account for more than 570 of those jobs and $150 million of those capital investments.