Charlotte has proven itself as a financial capital and location for corporate headquarters, but the region must be proactive in building a more diverse economy.
That was the message Monday from a handful of location advisers – people who help companies decide on relocation and expansion sites. The consultants met with area business and civic leaders during a three-hour economic development forum at the City Club in uptown Charlotte.
Such workshops show the Charlotte region’s collaborative spirit, which is important in an uncertain economy, said Tom Stringer, a director at Duff & Phelps in New York. Confronting fears of a global recession, the forum was hosted by the City of Charlotte, the Charlotte Chamber of Commerce, the Charlotte Regional Partnership and Charlotte Center City Partners.
“Everybody is really operating from the same page,” Stringer said. “It’s really unique to see people take stock of a situation as it’s unfolding.”
Despite the recession, some U.S. and foreign companies are expanding and adding jobs, Stringer said. While Charlotte has seen explosive growth in banking and related employment, the region shouldn’t continue chasing those jobs during the current financial crisis, said Tim Nitti, a principal at KLG in New York.
Instead, Nitti said, Charlotte should sell itself as a headquarters location. Nine Fortune 500 companies are based in the region, although Wachovia would drop off the list after its planned sale to Wells Fargo. In addition, he said, some advanced manufacturers would like the region’s available workers, the result of earlier factory closures.
Local business recruiters didn’t reveal any new initiatives or programs for attracting companies Monday. But with cities across the country trying to navigate the downturn and bring more jobs to their communities, Charlotte shouldn’t ease up on its economic development targets, Nitti said.
“Being aggressive and smart is going to be critical,” he said.
Taken from the Charlotte Observer
