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PINEHURST Charlotte has some work to do, but it's well-positioned to attract businesses, outshine neighboring areas and draw talented workers, business leaders said at the Charlotte Chamber's annual two-day planning retreat.
The Wednesday panel discussion, titled "Why Charlotte, Why Now?" centered on the region's strengths, weaknesses and opportunities as it emerges from the recession and a global financial crisis that plunged the long-prosperous area into uncertainty. Mecklenburg County's unemployment rate was 11.3 percent in August, above the national average of 9.7 percent.
Yet local leaders, speaking to a crowd of around 150 at the Pinehurst Resort 90 miles east of Charlotte, said they saw strengths in the area's talented work force and its commitment to diversifying its business base.
"I'm very bullish on the long term, not just for financial services, but for everyone," said Al de Molina, chief executive of GMAC Financial Services, which announced plans this year to expand its Charlotte operations.
Chuck Allen, director of corporate affairs for US Airways, said the airline sees potential in Charlotte, its largest hub, even as other hubs scale back.
For some companies, Charlotte's business-friendly climate was the biggest asset.
Toshiba America Nuclear Energy, which recently announced plans to bring 200 jobs to Charlotte, chose the city over Atlanta because of its commitment to becoming an energy hub and its leaders' support, President Fuyuki Saito said.
Atlanta offered a direct flight to Tokyo, a larger Asian market and doctors fluent in Japanese, "but in business strategy, Charlotte ... was a clear choice," he said.
"Business strategy always precedes personal life in a Japanese company."
Still, there's room for improvement, the panelists said.
The only issue that comes up when companies look to move to Charlotte is the quality of its public schools, de Molina said. That could be because people don't know much about them, he said.
"We either need to build confidence by telling the story about it, or we need to make the story better," he said.
Eric Dana, chief financial officer of CoaLogix Inc., a company that provides technology to coal plants and announced plans last month to expand in Charlotte, said city and state leaders need to work together better on roads and other infrastructure.
While some local leaders expressed a concern Wednesday over companies choosing to locate just over the S.C. line, thanks to lower taxes and better incentives packages, the panelists didn't seem worried.
Dana said his own incentives package was a factor in the decision to expand in Charlotte, but other things were equally important, such as the quality of life, which made it easy to attract workers from other states.
De Molina said S.C. workers still consume in Mecklenburg County, and that "we should want South Carolina to grow and prosper."
As for incentives, "I think those things are a waste of money," he said. When GMAC announced plans in March to add 200 jobs, state leaders approved a $4.5 million grant for the company, and Charlotte agreed to kick in $237,000.
Despite the challenges facing the Charlotte region, panelists felt optimistic about the future, they said.
Allen said the new cultural campus in uptown would be a promising draw, and light rail was off to a good start. The NASCAR Hall of Fame, too, could attract visitors.
"When I look at all the things Charlotte has going for it, I'm very encouraged," he said. "... This is a city we can find a good home in and make a profit in."
