Tuesday, April 5, 2011

As The Economy Recovers More Jobs Coming

The above articles talk about some of the trends that are leading to a recovery, but the main issue will remain JOBS.  Sometimes it is hard to tell because most media outlets like to lead with doom and gloom, but hardly a month goes by without an announcement that another company is moving its operations to Charlotte.

Most recently is HVM Corporation, the parent company for Extended Stay Hotels.  They will be bringing about 170 jobs from Spartanburg to Ballantyne.  The Veterans Administration is planning a major hospital facility in Charlotte.  The banks are changing their mix of departments but in general are hiring.

Mark Vitner, a senior economist for Wells Fargo & Co. is optimistic for Charlotte because he believes the U.S. is fundamentally shifting toward a more capital-intensive economy versus a labor-intensive one.  A capital-intensive economy requires a highly educated workforce, which Charlotte has.

As these jobs continue to come to Charlotte, other trends will also come into play to intensify the desirability of downtown as a residential environment.  Gas prices will be a key factor; lifestyle changes will encourage people to live closer to where they work and where they play.  Charlotte's downtown is poised to take advantage of that, and property values will reflect that as well.

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