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I was really trying to be nice but where in the world are you coming up with, with some of your ideas? Please correct me, but it seems you are insinuating that Charlotte's financial sector has just recenty become strong. Charlotte has been doing finances for as long as it has been strong in textiles and manufactoring. The federal reserve branch that we have here we got in the 1920s and we had a US Mint here around the same time. We were the first to discover gold in the late 1700s early 1800s. What really happend is that when federal deregulation of banks occurred the NC banks happend to acquire more territory than others. And then our troubles started, as well as many other banks outside of NC.
Banking is a large point of the Charlotte economy, if you remember mergers took place which made Charlotte more powerful in banking, sure Charlotte had banking, but consolidation and mergers and growth due in large part because of the banks only happened within the last decade or so.
Point is, Charlotte has been doing finances for a while. If you are indicating that finances are a relatively recent phenomena in Charlotte, then you're wrong. Charlotte, actually has a strong economy, despite the unemployment. I will have to show you where our economic strength index is always in the top 10. This is not to diminsh Nashville. Nashville is growing slower and that does not equate to better or worse. Charlotte is growing faster and that is not better or worse.
Right now Charlotte is in trouble, although not as in trouble as the rust belt or many other cities, I am not sure what you mean by economic strength index.
Right now Charlotte is in trouble, although not as in trouble as the rust belt or many other cities, I am not sure what you mean by economic strength index.
Hmm, Nashville is 5th and Charlotte is 3rd. Makes some of the arguments here seem a bit silly...those saying that Charlotte's economy was so far ahead Nashville didn't even compare. Both cities have been in the top 5 for the past 5 years....
I really question that methodology, at first it seems right, but upon closer inspection it reveals many flaws,
It states that Phoenix is ahead of austin,atlanta, and even ohama and las vegas is ahead of san antonio.
It must be using outdated data, the unemployment and economics of phoneix and las vegas contrast highly to austin and especially omaha which has on the nation's lowest unemployment rate vs. the highest
[SIZE=2] For the 2009 rankings, data from 1988 to 2007 was utilized.
Aaaah, okay now we see how irrelevant the data is, since the end of 2007 things have changed around.
Right now Charlotte is in trouble, although not as in trouble as the rust belt or many other cities, I am not sure what you mean by economic strength index.
To say that "Right now Charlotte is in trouble" suggests you are ignoring Nashville's double digit unemployment rate. Both cities are in trouble, as is the whole country.
To say that "Right now Charlotte is in trouble" suggests you are ignoring Nashville's double digit unemployment rate. Both cities are in trouble, as is the whole country.
Ok, if Charlotte's (Metro) unemployment rate is higher than Nashville, personal income is growing slower, the cities are almost tied in ranking for economic strength in 2009 and BOTH cities are targeted for recovery at the same time....how can most of the Charlotte posters here claim that Charlotte's economy is doing so well and so far ahead of Nashville that it doesn't even compare?
I don't think people are ignoring Nashville's economic situation, it's the Charlotte posters who have said Nashville shouldn't be compared to Charlotte and that Charlotte is still bringing in so many new people.
It's impossible to tell if Charlotte is still growing as fast as it did through 2008. There has been no data since it really hit hard in December of last year.
Ok, if Charlotte's (Metro) unemployment rate is higher than Nashville, personal income is growing slower, the cities are almost tied in ranking for economic strength in 2009 and BOTH cities are targeted for recovery at the same time....how can most of the Charlotte posters here claim that Charlotte's economy is doing so well and so far ahead of Nashville that it doesn't even compare?
I don't think people are ignoring Nashville's economic situation, it's the Charlotte posters who have said Nashville shouldn't be compared to Charlotte and that Charlotte is still bringing in so many new people.
It's impossible to tell if Charlotte is still growing as fast as it did through 2008. There has been no data since it really hit hard in December of last year.
A few clarifications...
1) Charlotte's personal income is growing faster than Nashville's. I claified that in one of my previous posts.
2) Charlotte's woes with the banks goes back further than "December of last year". The recession started in December of '07, but even before then the large banks had several rounds of layoffs and had began cuting back hiring considerably well before last year, especially Wachovia. I posted the population increase numbers mostly to show that people are obviously still coming here for more reasons than to work for a bank.
3) Lastly, I've never professed that "Charlotte's economy is doing so well and so far ahead of Nashville that it doesn't even compare." You can take that issue up with the ones who made those claims. However, Charlotte has been growing faster than Nashville and the city has a larger economy, those are just facts, period.
Charlotte posters who have said Nashville shouldn't be compared to Charlotte and that Charlotte is still bringing in so many new people.
When it comes to population concentration and economic activity, NO Nashville SHOULD NOT be compared to Charlotte. The two are not even in the same Global Economic category. Charlotte is "High Sufficiency" and Nashville is "Sufficiency". To be quite honest, Memphis is closer to Charlotte on a Global scale than Nashville.
Also, when it comes to GDP, Charlotte is growing and Nashville is shrinking. I have already posted this fact before and I will post it again for clarity.
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.
Now, if YOU think Charlotte and Nashville are comparable, that is fine with me. However, I have stated MANY times (on other threads) that Charlotte's closest cousins are in the Midwest and NOT the Southeast (and I meant it). Look at the number of Midwestern cities on the "High Sufficiency" list. Pittsburgh, Kansas City, Cleveland, Columbus, Milwaukee, Indianapolis etc. These are Charlotte's economic peers. Not Nashville.
And don't get me started on Nashville's metro population vs Charlotte's metro population. They may look close on paper, but they ARE NOT.
I think what we Charlootteans are saying is that our economy is larger than Nashville's. Yes we have our issues and double digit unemployment but we are indeed more advanced than Nashville. That is not to say Nashville sucks and is a hick town but it has some growing to do in order to get on Charlotte's level. Nashville and Raleigh are more similiar.
When it comes to population concentration and economic activity, NO Nashville SHOULD NOT be compared to Charlotte. The two are not even in the same Global Economic category. Charlotte is "High Sufficiency" and Nashville is "Sufficiency". To be quite honest, Memphis is closer to Charlotte on a Global scale than Nashville.
Also, when it comes to GDP, Charlotte is growing and Nashville is shrinking. I have already posted this fact before and I will post it again for clarity.
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.
Now, if YOU think Charlotte and Nashville are comparable, that is fine with me. However, I have stated MANY times (on other threads) that Charlotte's closest cousins are in the Midwest and NOT the Southeast (and I meant it). Look at the number of Midwestern cities on the "High Sufficiency" list. Pittsburgh, Kansas City, Cleveland, Columbus, Milwaukee, Indianapolis etc. These are Charlotte's economic peers. Not Nashville.
And don't get me started on Nashville's metro population vs Charlotte's metro population. They may look close on paper, but they ARE NOT.
I question that posts'/study methodology, it says that orlando of all places is on the same page as many other cities such as san jose the capital of silicon valley in which many professionals live in nearby suburbs (not to be confused with san jose in costa rica which scored higher on the index) which shares common influence with a beta+ city such as san francisco and cities such asColumbus, Richmond, cleveland beat salt lake city and austin, thats a bit ridiculous, also how is LA and SF beta+
and lesser popular European cities Alpha but not alpha plus. I've seen better globalization indexes.
I think the problem is that they lumped too many cities under one banner,
I do note that at the height of charlotte's boom it was becoming more of global or more domestic city than nashville, I think direct flights to london were being offered.
Last edited by FlyDrive100b; 10-04-2009 at 01:28 AM..
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