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Inaugural BusinessFirst Charlotte Confidence Index Shows Positive Outlook 

Thursday, March 31, 2011

Contact: Justine Gazzola
Phone: 704-336-2350                                                                                                                                   
Cell: 704-315-3259
Email: jgazzola@charlottenc.gov

The results of the inaugural BusinessFirst Charlotte Confidence Index survey released today show that overall, Mecklenburg County business leaders are confident about the local and national economy, as well as their company sales, profits, hiring plans and capital expenditures for the second quarter of 2011 as compared with the first quarter.

Additionally, 70% of business leaders surveyed indicated positive increases in sales and 59% projected an increase in profits, two strong indicators of the local economy.  Overall, business leaders are slightly more positive about the local economy than the national economy, with nearly 60% expecting the local economy to improve, while just 50% believing that the national economy will improve. 
“We are pleased with the results of the first BusinessFirst Confidence Survey,” said Bob Morgan, Charlotte Chamber President.  This is exactly the type of information that will help us with our work to attract and retain businesses here in Charlotte,” he added. 
The survey, administered quarterly by the Urban Institute at the University of North Carolina – Charlotte, produces real-time reports that reflect the economic climate in Charlotte and Mecklenburg County.  The results are another tool to help policymakers, businesses and job seekers determine which industries will be adding jobs or making investments over the upcoming quarter. In addition, the index will provide much needed data about the possible expansion or contraction of industries over time. 
BusinessFirst Confidence Index Contacts:
Dennis Marstall
Economic Development Program Manager
Neighborhood & Business Services
Steve Partridge
Manager, Charlotte Regional Economic Workforce Recovery Initiative
(704) 779-9640
Jonathan Kozar
Research Specialist
UNC Charlotte Urban Institute
Phone: 704-687-2681

About Advantage Carolina
The Advantage Carolina fund is designed to support the overall economic health of the Charlotte Region through support of initiatives in four key areas: economic development, regionalism, education and inner city development.

About BusinessFirst Charlotte
Created in 2006, BusinessFirst Charlotte is a partnership between the City of Charlotte and the Charlotte Chamber to maintain and grow existing businesses in Charlotte through comprehensive customer relationship management.
About the Charlotte-Mecklenburg Workforce Development Board (WDB)
The purpose of the WDB is to provide policy, planning and oversight for local workforce development programs and address workforce issues as identified by the community.