25% of the manufacturing workforce is over 55 years old. At the same time, the manufacturing industry is struggling to attract enough younger workers with the right skills and qualifications. Facing a workforce crisis—with open jobs in manufacturing recently reaching an all-time high—manufacturers are finding that retaining older workers is not only a necessity but an asset. Learn more here.
So what can the labor flow of 500 million people on LinkedIn tell us about the structure of the global economy? Quite a bit according to a first of a kind study conducted by researchers at Indiana University and LinkedIn. One example: there are strong ties in the flow of labor between the credit card and airline industries. Learn more here.
Recently, Fortune magazine profiled Charlotte and the city’s impressive economic renaissance and exploding startup scene (the Queen City can now boast that it has birthed three “unicorns” including Tresata, Red Ventures and AvidXchange). Learn how Charlotte became the south’s capital of capital.
At the beginning of August 2019, Business North Carolina magazine published its annual list of the 50 largest public companies in North Carolina. New to the list: Honeywell International (#2), Dentsply Sirona (#11), Advance Auto Parts (#13), Kontoor Brands (#33), BMC Stock Holdings (#36), Precision Biosciences (#44), Barings BDC (#46) and Biodelivery Services International (#49).
WFAE in Charlotte recently aired and published a story that caught many by surprise. The story revealed that Charlotte is on pace to surpass Raleigh-Durham in the number of tech jobs that each metro area holds. Seven days later, Lowe’s announced that they will be building a new 23-story global technology hub in Charlotte’s South End and adding as many as 2,000 new tech jobs to the Queen City. Read WFAE’s story here.
You may know that the U.S. automotive manufacturing industry has shifted to the southeastern USA. But did you know that the Charlotte region is benefiting greatly from this trend? According to research from the Charlotte Regional Business Alliance, more than 63,000 people work in automotive sectors in our region (more than Greenville, SC and more than most of Charlotte’s peer cities). Over the past two years, 20 automotive-related companies have announced plans to locate or expand in the region, adding a total of nearly 1,300 jobs. Learn more here.
The boom continues! The Charlotte Regional Business Alliance has released its Q1, 2019 “Growth Report” and the numbers continue to show economic strength across the region. Among the first quarter highlights featured in the latest report:
- Net New Jobs in Q1: 8,065
- Announced Expansion or Relocation Projects: 25
- Announced New Capital Investment: $93.6M
- Industry Sector with Highest Growth Rate in Hiring: Transportation & Logistics
According to research from the former Charlotte Regional Partnership, there are 194 German-owned firms in the greater Charlotte region; making Germany the most largely represented foreign country in the region. Learn more about Germany’s investment in Charlotte and why so many German firms have chosen to conduct business in our region.