Charlotte’s economic resilience in the face of unprecedented challenges, recovery efforts and future development in the region highlighted the launch of the inaugural edition of Invest: Charlotte 2020.
In this time of uncertainty, it has never been more important to showcase the strength and overall resilience of the local community and economy. On Thursday, integrated media platform Capital Analytics provided an opportunity to shed light on the challenges and opportunities in the region as it launched its 152-page analysis Invest: Charlotte 2020 with a virtual business conference held via Zoom Webinar.
Known for its affordability, highly educated workforce, and reputation as a major banking hub, the Queen City is poised for continued growth and economic diversification even in the midst of current coronavirus-related challenges and uncertainty. This first edition of Invest: Charlotte dives deep into the top economic sectors in the Charlotte Metro Area, including real estate, construction, utilities and infrastructure, transportation and aviation, banking and finance, legal, healthcare, education, and arts, culture and tourism.
Like other parts of the nation, the Queen City has felt the economic constriction and health challenges created by the pandemic. But, it has also experienced notable job expansion announcements and continued work on capital projects, Charlotte Mayor Vi Lyles said in her keynote address. The pandemic has also allowed city and business leaders to collaborate on addressing recovery efforts and creating solutions for the socio-economic challenges also highlighted by the pandemic. “The pandemic has stopped us in some ways. But it has also given us a great opportunity to resolve some of the disparities that we have seen and to create the vision that we want to have for the future. We are going to make a difference in Charlotte. And we are going to do it together,” Mayor Lyles said.
“Charlotte was an important expansion for us as it is the nation’s second-largest banking city and a key driver of economic growth in the Southeast. The Queen City is experiencing positive economic activity as national and international companies choose Charlotte as a place to grow or relocate their operations. Our Charlotte expansion showcases how metro areas are more than just cities, but rather a diverse ecosystem made up of many companies, locations and environments. Despite the challenges put upon us by COVID-19, Capital Analytics remains steadfast in our purpose: to deliver in-depth business intelligence through its print and digital platforms. Now more than ever, information is not only necessary, it is vital,” said Abby Melone, President and CEO of Capital Analytics.
Two Panels, focused on banking and development, featured local leaders in conversation about present challenges, recovery efforts and what the future of the Queen City may look like.
During these uncertain times, sound insights and collaboration between the public and private sectors will be pivotal in ensuring financial recovery for both businesses and residents. The first panel “Financial recovery for businesses and individuals in the wake of a pandemic,” was moderated by Stuart Goldstein, managing partner Charlotte Office, Cadwalader, Wickersham & Taft LLP, and featured Truist Metrolina Regional Charlotte President Heath Campbell, Fifth Third Bank Mid-Atlantic President Lee Fite and Wells Fargo Managing Director and Senior Economist Mark Vitner. The second panel, “The future of development in the Charlotte region,” was moderated by Taiwo Jaiyeoba, assistant city manager and director of Planning, Design and Development, and featured Zach Pannier, business unit leader, DPR Construction; Marcie Williams, president, RKW Residential; Clay Grubb, CEO, Grubb Properties; and Lawrence Shaw, managing partner, Colliers International.