Charlotte, NC is one of the country’s most vibrant communities. According to Matt Rush, few people actually understand how important this part of the country is to the overall economy. Indeed, when looking at the Fortune 500 list, Charlotte ranks 5th in the nation in terms of how many Fortune 500 companies are based there, which is nine. This means that the city is a true powerhouse, and this impacts all areas of the economy, from banking to childcare. The economy is thriving and unemployment is low. Let’s take a look at some of the biggest economic players in the city and how they help the community at the same time.
Matt Rush on the Bank of America
The Bank of America has been able to turn Charlotte, NC into an example of best practice in the world of banking for the rest of the country. Even when the economy started to slow down, and eventually collapse, the Bank of America continued to invest in businesses. This meant that the people of Charlotte had a lot more employment security than many other people all over the country. The 2008 prospectus that the bank released was nothing sort of optimistic, this despite it being released just months after the collapse of the housing market. Today, the Bank of America continues to be a main powerhouse in Charlotte and, regardless of what the economy does, they aim to deliver many good things for the community and, in fact, the country.
Matt Rush on Wachovia
It seems as if Charlotte, NC is all about banking, because Wachovia also focuses on this city. They are an investment firm and bank and they have provided hundreds of people in the area with work. Even when they had to downgrade their GGP (General Growth Properties) because they were underperforming during the economic crisis, Wachovia did all it could to keep its employees in place.
Matt Rush on Lowe’s Hardware
Although the banking system in Charlotte is clearly very important, other things can be found as well. Lowe’s Hardware is an example of this. It is found on Lake Norman, just outside of Charlotte. This company has experienced some of the biggest growth of any company in the country, consistently doubling in size year on year. Indeed, they have offices on the West Coast, too, and similar things happen there. What makes Lowe’s Hardware so special is that they help senior citizens into work. Their headquarters are in Charlotte, NC and they have thankfully been able to ride out the recession.
Clearly, over the years, Charlotte has become the business destination of choice for many American companies and Matt Rush recommends any business considers it for their next version. Billions of dollars are brought into North Carolina thanks to Charlotte, and tens of thousands of people have been able to find employment here. Best of all, it is not only one of the most thriving consumer cities, it is a beautiful city as well, and anyone would love to raise a family here.