News
RECOVERY TRENDS, CONTINUED
June 13, 2012
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3. AIRPORT ENGINE Charlotte's airport is the sixth busiest in the US, and a major economic development differentiator. Although critics say most flights are provided by USAirways, which creates some vulnerability, the airport is well positioned. It also has a strong bond rating, is in the midst of a billion-dollar renovation/expansion program, and is one of the few major airports with room to expand. | |
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| 4. STRONG FINANCIAL HUB Despite the demise of Wachovia, Charlotte is as relevant as ever in the financial services industry and remains the second-largest financial center in the nation, a fact that's a major driver in the office market. Wells Fargo (seen here on move-in day) has kept Charlotte as a major hub after buying Wachovia; BofA's headcount has held up; and TIAA-CREF, Teachers, AXA, SCOR, Ally, Fifth Third Bank, PNC, LPL, and many other financial services companies have a major presence here. | |
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| 5. ENERGY GROWTH With Duke Energy's acquisition of Progress Energy looking likely, Duke will become the largest public utility in the US. Charlotte has become a hub for the energy industry, and that too is driving demand. |
