Capital Analytics Shines a Spotlight on Charlotte

Capital Analytics Shines a Spotlight on Charlotte

Invest: Charlotte to highlight key investment opportunities in the city




Seasoned media firm Capital Analytics has chosen Charlotte as the next destination to launch a focused annual report on investment opportunities offered by the city. Invest: Charlotte will bring together key industry leaders across the public and private sectors to provide commentary on Charlotte’s rise as an attractive investment destination in recent years.

Entering its sixth year publishing the highly praised flagship project Invest: Miami, Capital Analytics identified Charlotte as the next key market in its portfolio annual economic reports. This newest edition will focus on the growing importance of Charlotte as a business hub and spotlight opportunities for investment.

Capital Analytics’ successful Invest: Miami venture allowed it to establish footholds in Atlanta, Greater Fort Lauderdale, Philadelphia, Tampa Bay, Palm Beach and Orlando, and the company has high expectations for its Charlotte undertaking.

“This business intelligence publication will complement the other publications we produce in the region. The strength of Charlotte’s diversified economy in transportation and logistics, sports and energy combined with the city’s status as a major U.S. financial center create an encouraging environment for further investment,” said Jack Miller, Regional Director at Capital Analytics.

The Capital Analytics team has already started laying the groundwork for Invest: Charlotte and is looking forward to replicating its success in other markets, speaking to high-profile executives and leaders of key organizations in the area. This will be the most comprehensive independent report available on Charlotte’s vibrant business climate, seen through the eyes of those at the forefront.

North Carolina’s Gross State Product (GSP) is expected to reach $589.8 billion by the end of the year. Charlotte has a high level of education, with 15 research universities and 300,000 students, meaning new high-paying jobs in tech and science are opening up. Add to that a local government that understands the importance of attracting investment and Charlotte is the perfect place for investors to focus their attention. 

“At Capital Analytics we are excited to begin conducting interviews and compiling research on the Charlotte market in anticipation of the first edition of Invest: Charlotte,” said Miller. “We look forward to discussing Charlotte’s opportunities and challenges with local public and private sector leaders over the months to come.”

Capital Analytics produces in-depth business intelligence with a focus on providing comprehensive investment knowledge on markets within the United States for the domestic and global business community. Over a six-month research period, it meets with more than 200 top political, commercial and industry leaders to deliver targeted information, in-depth analyses and strategic insights to the global business community on economic trends and investment opportunities.

Its first publication, Invest: Miami, has a global readership and includes among its readers top executives working in real estate, finance, technology, trade and logistics, health, hospitality and others. Books are distributed locally, nationally and globally to trade and investment boards, executives of Fortune 500 companies, institutional investors, consulates and embassies, hedge funds, leading chambers and associations, as well as high-level summits and conferences.

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TEL: 305-523-9708

Capital Analytics Shines a Spotlight on Charlotte

Big Banks’ Long-Term Investment Vision for Charlotte

Writer: Sara Warden

2 min read AUGUST 2019 — Charlotte has long been the eastern hub of Bank of America (BofA) and is one of the headquarters of Wells Fargo. But this year it has been attracting attention from the third bank belonging to the Big Four, which together hold around 45% of total U.S. deposits. JP Morgan Chase announced earlier this year that it will add up to 21 branches in Charlotte in the next three years.


“We’ve been serving the Carolinas for more than a decade and opening branches allows us to lend to more consumers and small businesses, and offer good paying jobs,” Thasunda Duckett, CEO of Chase Consumer Banking, said in a press release.

JP Morgan Chase will be entering a market where many are seeing huge potential. In April this year, U.S. Bank announced it will open 10 branches in the city by 2020. The bank, which emerged from the $66 billion merger between BB&T and SunTrust, will also be headquartered in Charlotte.

Despite Wells Fargo and BofA controlling around 89% of the area’s deposits, the new entrants seem confident there will be a big enough piece of the pie for them to get their teeth into. “This expansion marks a major milestone for our firm by allowing us to serve more customers, small businesses and communities across the country,” said Duckett. “To us, this is so much more than building branches. This is about new customer relationships, better access to credit and local jobs.”

Charlotte is home to 425 corporate headquarters in the finance industry. At 2.5%, the city has the lowest corporate tax rate in the country. For three years consecutively, North Carolina’s annual residential growth has exceeded 100,000 people.

“I don’t think there’s any industry that’s having an easy time staffing with the kind of human capital that they need, so one of North Carolina’s biggest advantages right now continues to be population growth,” says Christopher Chung, CEO of the Economic Development Partnership of North Carolina told WeWork publication FiveThirtyEight.

Charlotte’s finance industry is the second-largest banking hub in the country behind only New York City, with banks holding more than $2.3 trillion in assets. The city has added more than 200,000 jobs since 2001.

“We’ve built a great city that helps companies attract and retain today’s best talent,” Frances West, business recruitment and retention leader in Charlotte’s Economic Development Office, said to FiveThirtyEight. “Where we are today is not by happenstance and where we will be in 10 years is not by happenstance — it’s all by intentional growth.”

And the financial institutes have Charlotte in their crosshairs for the long run. U.S. Bank announced it reached an agreement with the city’s authorities this month to be the lead sponsor of a delayed pedestrian bridge project that connects Charlotte’s uptown and South End. U.S. Bank will contribute $1 million to the $11 million infrastructure project.

“Bridging the gap between uptown and South End will provide additional connectivity for residents, workers and guests, while further knitting together two of our great urban neighborhoods,” Michael J. Smith, CEO of Charlotte Center City Partners, said in a press release.


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Charlotte Demographics Catalyze Office-Space Boom

Writer: Sara Warden

2 min read AUGUST 2019 – Charlotte is gaining more than 1,000 new residents a week, according to the 2017 Census. In the second quarter of 2019, Charlotte added 26,700 new jobs and kept unemployment down, at around 3.7% on the year. By 2050, another 1.8 million people and nearly 1 million more jobs will be added.

Research has shown that Charlotte is able to attract younger generations due to its affordability and quality of life. Cincinnati-based Growella conducted research on the friendliest cities for under-35s, measuring indicators such as entry-level job availability, time spent commuting and strength of paycheck, and Charlotte came out No. 5, with an A grade.

“With a growing tech workforce, a booming financial industry and a strong millennial growth rate, Charlotte is poised to be a forerunner of economic expansion not only in the Southeast but in the United States,” said real estate firm Cushman & Wakefield in a report on the city.

Charlotte ranked seventh in Growella’s research for strength of paycheck, which indicates how high salaries are compared with the cost of living. The city also boasts solid infrastructure, transport links and a dynamic nightlife. With characteristics that allow it to entice more of the young workforce, Charlotte is becoming a titan in attracting disruptive industries, such as tech and innovative financial services.

The predominant US tech hub is undoubtedly Silicon Valley in San Francisco. But it seems more and more startups are looking to more affordable cities that have favourable demographics. The frontrunner is Charlotte.

One company that decided to headquarter itself in Charlotte is SmartSky Networks, which aims to transform aviation using disruptive technologies. Another is Passport, a provider of digital parking software. MapAnything, Sitehands, PeraHealth and many others have also chosen Charlotte to lay down roots. This is all serving as a boon for the city’s real estate industry, and office space in particular.

At the end of the second quarter, Charlotte’s average rental rates increased 13% on the year, above markets such as San Jose, California, which saw an 11.8% rise and even the home of Silicon Valley, San Francisco, which saw a 9.4% increase.

But even though property is rapidly increasing in value, it is still far more affordable than many business hubs, making it a no-brainer investment opportunity for many forward-thinkers. “Rent as a percentage of household income is still substantially below the likes of much larger cities like Boston, Chicago, Seattle and Miami,” said Dave Welk, Director of Acquisitions of private equity real estate firm Origin Investments in an article written for the company.

Nearly 5.1 million square feet of office space is under construction in Charlotte, the majority in the Central Business District (CBD). Most recently, real estate investors The Spectrum Companies and Invesco teamed up to break ground on a 577,000-square-foot mixed-used development in Charlotte’s CBD that will eventually house two 11-story office buildings.

As demand drives up prices, existing assets are also selling for eye-watering amounts, with the top five transactions so far this year totaling $855 million.

“As space is leased and rental rates continue to rise, owners are expected to sell properties for record-high amounts as Charlotte demonstrates it is a viable and highly sought-after investment market,” said Cushman & Wakefield.