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Charlotte NC Economic Status, July 17, 2008

By Debe Maxwell, CRS

Real Estate Agent with Savvy + Company (704) 491-3310 228209

July 16, 2008 04:05 PM

Charlotte NC Economic Status July 16, 2008

Charlotte NC Economic Status July 17, 2008

At the risk of sounding like a broken record, I'm happy to share that second quarter numbers are out and indicate that Charlotte continues holding strong during this trying economic time! Charlotte NC economic status July 17, 2008 IS positive! Charlotte continues to add new firms, new jobs, new investments and more buildings despite the state of the national residential real estate market, the recent instability of the finance industry and soaring gas prices. The ability to grow in spite of the aforementioned tribulations gives a glimpse of Charlotte's expected continued success for the remainder of 2008.

Charlotte NC

Second Quarter 2008 showed very positive numbers, all categories aside from employment surmounting those from last year. A total of 330 new or expanding firms resulted in 3,327 new jobs in the area. Investment dollars totaled $476 million, giving way to a total of more than 10.4 million square feet in Charlotte.

Furthermore, the first six months of 2008 also exceeded most new and expanded totals from last year at this time with a total of 612 firms created 6,343 jobs. Total investment equaled almost $1,534,000 adding 16.6 million square feet of new space. This mid-year square footage surpasses last year's all time high, creating a new six month record. Continuing the trend, at the half-year point investment dollars, indicated by the numbers, 2008 resulted in the second highest total to date.

Charlotte NC Uptown A few of the significant additions this quarter are as follows:

1. IBM expanded their services adding 600 employees
2. Red Ventures, a direct marketing company, added 100 new jobs
3. Charlotte Ballantyne Hotel added over 3 million square feet
4. Sencera International Corporation added $37 million in investment Also of note is the
5. 440 South Church Office Development contributing $80 million towards investment
6. Perimeter Woods expansion adding $70 million.

Debe in Charlotte

Debe Maxwell is a Charlotte Residential Real Estate Broker, Certified Neighborhood and Relocation Specialist who can assist you with the purchase and/or sale of real estate in Charlotte, NC or any place in the country by connecting you with a relocation professional in your destination of choice. Debe has created a team of professionals throughout the country to ensure that you enjoy a smooth transition to your new area. These professionals are experts in the field of relocation and can serve many purposes beyond a simple home search. The destination service is of no cost to you! Please visit www.TheMaxwellHouseGroup.com for your relocation and/or your local needs.

Debe Maxwell- HELEN ADAMS REALTY - 704.491.3310 - Debe@DebeMaxwell.com

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Katerina Gasset

The Gasset Group & Get It Done For Me Virtual Services - Provo, UT

Amplify Your Real Estate & Life Dreams!

Debe- So how are the taxes on these companies? Must be not too bad if they are adding on employees? What are the incentives for companies to move to Charlotte?

Jul 16, 2008 04:48 PM

Don Rogers

Keller Williams Realty Chesterfield - O'Fallon, MO

Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes

Debe,

I looks like Charlotte just keeps growing and growing. What does Charlotte offer to companies to do the expansion or to move to your lovely area?

Don R.

Jul 16, 2008 10:54 PM

Debe Maxwell, CRS

Savvy + Company (704) 491-3310 - Charlotte, NC

The RIGHT CHARLOTTE REALTOR!

Katerina: NC has one of the lowest sales and use tax in the U.S. The city and county taxes are combined as one with tax credits and incentives for businesses and we are the #1 state in the U.S. to do business and Charlotte is the largest city in the state. We have a very progressive, very active and proactive city AND county government. Alot of times, decisions are made that many of the residents disagree with concerning business and the city's development and some time down the road, we all realize that they had great forethought. This proactive thinking is what we're standing on right now--a rock solid economy when it seems that other areas of the country are in disarray!

Don: Charlotte has many pro-business regulations. Among them, a quality workforce enhanced by excellent educational programs designed around NC business, advanced technology, an exceptional geographic location, and most importantly, the city's shared commitment to creating and enhancing a balanced, growth-driven economy. Sales & use tax is among the lowest in the nation and our unemployment taxes are low because of the tremendous educational programs geared towards contributing to NC's workforce. It's a win-win for new business & Charlotte!

Jul 16, 2008 11:45 PM

Charlotte NC Economic Status, July 17, 2008

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