Charlotte's long-term economic health is in large part driven by the City's ability to facilitate private sector job growth and investment. the Economic Development Focus Area seeks to maintain, increase and enhance the quality and number of jobs available within Charlotte.
This requires investment in public services, facilities and infrastructure, along with a commitment to existing businesses, small business enterprise and entrepreneurship. Public and private commitment and cooperation are necessary for effective economic development.
City Council Involvement
Work on this Focus Area is directed by the Economic Development Committee. The committee meets regularly to discuss community safety issues before presenting them to the full City Council for debate and decision.
Members of the Economic Development Committee include:
Chair: James Mitchell
Vice Chair: Patrick Cannon
Members: Warren Cooksey
Staff Resource: Ron Kimble, Deputy City Manager
Charlotte's Economic Growth Opportunities
There are opportunities for significant economic growth by redeveloping areas along the transit corridors and in targeted business districts. In FY07, the City experienced unprecedented new development within areas targeted for economic development. An analysis of building permits discloses a new doubling of private sector building permit values in economic development areas. Those areas include Center City, The Business Services Geography, and areas within 1/2 mile of transit stations along the South corridor.
Business Corridor Revitalization Program:
Charlotte's continued success will be influenced by the new Business Corridor Revitalization program. Resources will be dedicated to provide capital and support to five priority corridors chosen from an analysis of economic and social needs. This work will be supported by City coordination with the Charlotte Mecklenburg Development Corporation in developing new jobs and investing in locations that private interests have avoided in recent years.
Also, an increased emphasis on partnerships with the hospitality and tourism industry enhances Charlotte's success. Increasingly, Charlotte's prosperity is tied to the economic health of the region and regional solutions will be required to address employment, transportation, education, and environmental issues that affect charlotte's long term economic sustainability. Ultimately through these initiatives, Charlotte will be recognized as one of the most prosperous and livable cities in America.