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Industry Spotlight: Charlotte
The BH Marketing Team | 08.03.16 - 13:14 PM

Sitting just above the South Carolina border is Charlotte, North Carolina - a city that over the past decade has transformed itself into a job seekers' dream.

If you haven't yet caught wind of the employment opportunities being made available in North Carolina's biggest city, then it's time you find out why everyone is flocking there.

Queen City's financial sector is royally flush with opportunity
Everyone knows the most-populated financial center in the U.S. is New York City, but how many know which city follows it? Charlotte, home to just 800,000, according to the last U.S. census, is actually the nation's second largest banking center, Forbes reported.

A combination of low corporate income tax and a well-qualified job force are key drivers in drawing and keeping big companies like Bank of America and Wells Fargo in the area, according to the Economic Development Partnership of North Carolina. Other major players in the industry that have settled down in Charlotte include BB&T, Fidelity Investment Bank and Deutsche Bank.

"With the Accounting and Finance market, the demand for highly specialized candidates is growing at a remarkable pace," says Eric Felice, Division Director of Beacon Hill's Financial Division in Charlotte. "Overall, we've seen a huge boom in our local market, with an influx of Fortune 500 companies and expediential growth from our tenured clients."

Those in the field looking for employment will have seemingly endless options, as the sector has sustained a 4.5 percent job growth rate as of April 2016, the Bureau of Labor Statistics reported. Nearly 86,000 currently find work in this market.

Charlotte stands out for the success of its finance sector, but other industries are blooming as well.Charlotte stands out for the success of its finance sector, but other industries are blooming as well.

The Hornet's Nest is swarming with jobs
Charlotte has seen employment success in every single industry, according to BLS data. It's worth noting that it has shaved nearly a full percentage point off of its unemployment rate since January 2016, which now sits at 4.5 percent.

"One of the largest – and perhaps most unexpected – industries that is booming in Charlotte is the international logistics industry," notes Sarah Thompson, Senior Managing Consultant for Beacon Hill's Associates Division in Charlotte. "Our airport is the sixth-busiest in the world, which supplements the need for land, ocean, and air logistics."

Over the past 12 months, the education and health services sector has grown by about 1.5 percent, and now employs 116,000, BLS data reported. "We are home to a large healthcare community – two regional award-winning hospital systems and several companies that work with patients, insurance companies and providers," says Ms. Thompson. A number of well-respected universities reside in the area as well, Forbes reported.

Nearly 190,000 find work in the professional and business sector, which holds a 3.1 percent growth rate over the past 12 months, according to the BLS. Google, Cisco and Nucor all have offices and facilities in the area.

"As if you needed more proof that Charlotte is a booming city, the Queen City ranked No. 13 on Forbes magazine's list of "America's fastest-growing cities" in 2016," says Steph Ackerman, Senior Corporate Recruiter for Beacon Hill Staffing Group in Charlotte. "Low cost of living and lots of employment opportunity has led to a mass migration, and lots of nearby universities means fresh grads are ready to kick off their careers in this banking hub. Charlotte is definitely a big city with small-town charm, and is continuing to explode onto the national scene."

With median household income at roughly $52,000 and median home prices at $161,000, based on Forbes research, it's easy to see why Charlotte is getting so much attention in the job seeking community. Low cost of living with excellent opportunities equates to an employee's paradise.

This content is brought to you by the Marketing Team at Beacon Hill Staffing Group.

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