Printed from the Charlotte Observer -
Posted: Friday, Oct. 10, 2008

Charlotte companies still generating jobs

By Doug Smith
Published in: Business

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The Charlotte Chamber says local companies continue to generate jobs despite the nation's economic woes.

Through the third quarter, 926 firms announced plans to create 9,552 jobs, according to the local business organization's survey of new and expanding businesses.

The survey was conducted before Wachovia's turmoil and before the $700 billion financial bailout bill passed.

“The question is how that is going to affect the future, but this survey indicates we are still moving ahead positively,” said chamber research vice president Tony Crumbley.

The third-quarter job total is consistent with the five-year average but fewer than the 11,233 jobs announced in the same period last year, he said.

“Our report is not a forecast, but it is a leading indicator because many of those jobs will come down the road,” Crumbley said.

The survey also said that companies plan to invest $1.7 billion in expansion and add 21.1 million square feet of space.

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