Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I would also like to add that some economist say that the economic revovery is around the corner. The gdp will grow even though there may not be as many jobs as before. Many companies will do more work with fewer people.
quote=urbancharlotte;10950587]The following is for the folks that say Charlotte is mostly banking; Nashville is mostly healthcare.
Charlotte and Nashville's 10 largest employers.
Charlotte
1 Carolinas Healthcare System 26,283
2 Wells Fargo/Wachovia Corp 20,000
3 Charlotte-Mecklenburg Schools 19,485
4 Bank Of America 13,960
5 Wal-Mart Stores Inc 13,192
6 Presbyterian Regional Healthcare Corp 9,000
7 Delhaize America Inc/Food Lion LLC 8,658
8 Duke Energy Corp 7,757
9 North Carolina State Government 7,479
10 US Airways 5,955 Charlotte Chamber
Nashville
1 State of Tennessee, 20,029
2 Vanderbilt University and Medical Center, 17,158 (includes full- and part-time employees and clinical staff)
3 Metro Nashville-Davidson Co. Public Schools, 10,000
4 HCA, 8,742
5 Nissan North America Inc., 8,100
6 Saint Thomas Healthcare Systems, 6,300
7 GM Spring Hill Manufacturing, 5,700
8 Bridgestone Americas Holding Inc., 4,900
9 Gaylord Entertainment, 4,150
10 Sumner County Government and Public Schools, 4,088 BlueShoe Nashville Travel Guide
One caveat, its not so much the number of jobs being held but the state and output and support of that sector, if there are layoffs in the banking sector, less tax revenue may come in leading to less money in the budget , leading to layoffs in the school system, also a job could be making twice the pay in finance than 3 jobs in the school system say teacher, counselor , and secretary with one financial analyst.
Charlotte is highly dependent on finance, although they have other fields and areas.
Here is a link to an interactive Gross Metro Product map. It shows the economic growth rate for the Nation's largest 100 metros (from 1st quarter 2009 to 2nd quarter 2009). Charlotte ranked 16th while Nashville ranked 62nd. Brookings - Quality. Independence. Impact.
Eventhough Charlotte has a higher unemployment rate (than Nashville), Charlotte's economic activity continues to grow (while Nashville's economic activity is shrinking).
My guess is that Charlotte's higher unemployment rate is because our "PEOPLE" growth is higher than our "JOB" growth. Nashville's lower unemployment rate is because Nashville has less "PEOPLE" growth than "JOB" growth.
That's a great point, too many people moving can affect an region's unemployment rate
The bottom line is that Charlotte is doing "better" economically than Nashville. It is the many newcomers to Charlotte (they often come here jobless) that make us appear to be doing poorly. I hope this answers the question of "Why are people still moving to Charlotte faster than Nashville eventhough Nashville's unemployment rate is lower?". The answer is "Charlotte's economy is still expanding. Nashville's economy is now shrinking".[/quote]
One caveat, its not so much the number of jobs being held but the state and output and support of that sector, if there are layoffs in the banking sector, less tax revenue may come in leading to less money in the budget , leading to layoffs in the school system, also a job could be making twice the pay in finance than 3 jobs in the school system say teacher, counselor , and secretary with one financial analyst.
I think you are trying too hard to make a point that can't be made. Charlotte (economically) is a bigger animal than Nashville. Banking is a part of this, but it is not the sole reason.
Quote:
Originally Posted by tech2enable
Charlotte is highly dependent on finance, although they have other fields and areas.
I could easily say that Nashville is highly dependent on State Government (this is in fact "The Music City's" largest employer). Also, tourism is major in Nashville, however Charlotte gets more visitors per year. Nashville (for all argument purposes) is more in line with Louisville or OKC than it is with Charlotte. Charlotte is not quite the "one trick pony" you seem to think it is.
In this entire thread, Charlotte posters have been posting charts, graphs, and links that back up what we say. You have been posting your opinions of a city you know less about than us. I am by no means "calling you out", but I think it is time for you to start posting some links that backs up half of what you are saying. That is all I am asking for. Show us some proof that Nashville is on the verge of catching up to Charlotte economically. That is what this thread is about right?
In this entire thread, Charlotte posters have been posting charts, graphs, and links that back up what we say. You have been posting your opinions of a city you know less about than us. I am by no means "calling you out", but I think it is time for you to start posting some links that backs up half of what you are saying. That is all I am asking for. Show us some proof that Nashville is on the verge of catching up to Charlotte economically. That is what this thread is about right?
Now I'm not making any sort of argument either way, but I found this particular stat to be interesting and relevant. The 2008 per capita personal income figure for Charlotte was $38,962, which represents a 0.7% decrease from 2007, while the 2008 figure for Nashville is $39,325, which represents a 1.2% increase for them. However, Charlotte's metropolitan GDP ($118.4 billion) still remains significantly higher than Nashville's ($78.9 billion) and both grew by a similar amount (~$2 billion) between 2007 and 2008.
Now I'm not making any sort of argument either way, but I found this particular stat to be interesting and relevant. The 2008 per capita personal income figure for Charlotte was $38,962, which represents a 0.7% decrease from 2007, while the 2008 figure for Nashville is $39,325, which represents a 1.2% increase for them. However, Charlotte's metropolitan GDP ($118.4 billion) still remains significantly higher than Nashville's ($78.9 billion) and both grew by a similar amount (~$2 billion) between 2007 and 2008.
Excellent post, I also don't think Nashville has more in the line with Louisville , Kentucky than Charlotte, although one can make an argument that its somewhere in between, sure culturally speaking and what have you, but there seems to be a number of slow changes in the past decade.
Now I'm not making any sort of argument either way, but I found this particular stat to be interesting and relevant. The 2008 per capita personal income figure for Charlotte was $38,962, which represents a 0.7% decrease from 2007, while the 2008 figure for Nashville is $39,325, which represents a 1.2% increase for them. However, Charlotte's metropolitan GDP ($118.4 billion) still remains significantly higher than Nashville's ($78.9 billion) and both grew by a similar amount (~$2 billion) between 2007 and 2008.
I think you’re interpreting that release incorrectly. The release is regarding “Personal Income Growth”, defined as “income received by all persons from all sources”. Per Capita Personal income is referenced in the release, but it wouldn’t suggest Nashville is “catching up to Charlotte economically”. They defined the Per Capita Personal Income number as “the personal income of the residents of a given area divided by the resident population of the area”. The main take away from the information is that in 2007 Charlotte’s $64 billion in Personal Income was 8% larger than Nashville’s $59 billion. And in 2008 Charlotte’s $66 billion in Personal Income was 10% larger than Nashville’s $60 billion. This actually shows the gap between the two metros is widening.
I think you’re interpreting that release incorrectly. The release is regarding “Personal Income Growth”, defined as “income received by all persons from all sources”. Per Capita Personal income is referenced in the release, but it wouldn’t suggest Nashville is “catching up to Charlotte economically”. They defined the Per Capita Personal Income number as “the personal income of the residents of a given area divided by the resident population of the area”. The main take away from the information is that in 2007 Charlotte’s $64 billion in Personal Income was 8% larger than Nashville’s $59 billion. And in 2008 Charlotte’s $66 billion in Personal Income was 10% larger than Nashville’s $60 billion. This actually shows the gap between the two metros is widening.
Dammit CB!!! You beat me to it! Well, anyways, good post. I am glad you caught that too!
I think you’re interpreting that release incorrectly. The release is regarding “Personal Income Growth”, defined as “income received by all persons from all sources”. Per Capita Personal income is referenced in the release, but it wouldn’t suggest Nashville is “catching up to Charlotte economically”. They defined the Per Capita Personal Income number as “the personal income of the residents of a given area divided by the resident population of the area”. The main take away from the information is that in 2007 Charlotte’s $64 billion in Personal Income was 8% larger than Nashville’s $59 billion. And in 2008 Charlotte’s $66 billion in Personal Income was 10% larger than Nashville’s $60 billion. This actually shows the gap between the two metros is widening.
Hey, like I stated, I don't have a dog in this fight nor was I making an argument either way. I only reported on those two figures (per capita income, metropolitan GDP). Our per capita income dropped between 2007-2008, while Nashville's increased, but our metro GDP is still far and away much higher. I just used those two figures at face value. I wasn't making an argument, so I wasn't trying to trend anything or make any analyses, LOL.
I think you’re interpreting that release incorrectly. The release is regarding “Personal Income Growth”, defined as “income received by all persons from all sources”. Per Capita Personal income is referenced in the release, but it wouldn’t suggest Nashville is “catching up to Charlotte economically”. They defined the Per Capita Personal Income number as “the personal income of the residents of a given area divided by the resident population of the area”. The main take away from the information is that in 2007 Charlotte’s $64 billion in Personal Income was 8% larger than Nashville’s $59 billion. And in 2008 Charlotte’s $66 billion in Personal Income was 10% larger than Nashville’s $60 billion. This actually shows the gap between the two metros is widening.
Excellent post, the key however is that population growth may have slowed or if not, too many people moving in chasing too few jobs, there have been a lot of layoffs and problems in the financial sector, but charlotte has done a better job at attracting newcomers than nashville, especially in the northeast, where I used to hear all the time talk and media buzz about Charlotte, perhaps Nashville missed the opportunity and it has an image problem not so much in terms of undesirability but more geared for a more southern, country, spread out out style of living, its downtown doesn't have the skyscrapers, layout, and activity as charlotte's although certain people say nashville's downtown is vibrant many people have commented that the layout is not planned, particulary regarding the signature tower when its was planned to be one of the tallest buildings before the credit crunch.
Excellent post, the key however is that population growth may have slowed or if not, too many people moving in chasing too few jobs, there have been a lot of layoffs and problems in the financial sector, but charlotte has done a better job at attracting newcomers than nashville, especially in the northeast, where I used to hear all the time talk and media buzz about Charlotte, perhaps Nashville missed the opportunity and it has an image problem not so much in terms of undesirability but more geared for a more southern, country, spread out out style of living, its downtown doesn't have the skyscrapers, layout, and activity as charlotte's although certain people say nashville's downtown is vibrant many people have commented that the layout is not planned, particulary regarding the signature tower when its was planned to be one of the tallest buildings before the credit crunch.
I don't think Nashville has an image problem. The Nashville area has grown incredibly in the past few years. It hasn't been as fast as Raleigh and Charlotte but it's been well above the national average. We've received new corporate HQs and we have seen several new high rises go up in the past couple of years.
If you want to see cities with image problems you need to look at cities losing people, losing their corporate HQs, and not seeing any new construction.
This is Nashville Metro's population growth since 1950 and ending July 1 2008. (Nashville is also part of a CSA that is even larger than this).
1,550,7331,311,789985,026850,505541,108399,743321,758
This is the population for the city of Nashville which also seems to be doing well, especially considering the fact that it cannot annex new land.
Nashville's not doing poorly or anything you guys seem to be suggesting. A city does not have to grow as fast as Charlotte to be considered successful.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
You beat me to it!
Well, anyways, good post. I am glad you caught that too!
