30-01-2025
Charlotte is ready to spill its tech "secret"
Charlotte's growing tech workforce has long flown under the radar, but economic development leaders want to broadcast the city's hidden advantage to draw new businesses and investors.
Why it matters: Organizations like Charlotte Center City Partners say they believe they can lure more future-focused companies here by revealing the tech talent hidden in our banking, insurance and other industries.
What they're saying: Site selectors are catching on that Charlotte has a wealth of tech talent that's more affordable to hire, says James LaBar, senior vice president of economic development at Charlotte Center City Partners. Unlike in larger tech hubs, startups and smaller companies don't have to contend with industry giants when recruiting candidates in Charlotte.
In other major cities, such as Austin, they're up against not only "the salary of Google, but the coolness of Google," LaBar explains.
LaBar calls the tech talent Charlotte's "secret."
By the numbers: The average wage for a tech worker in Charlotte is $97,044 — far below $192,969 in the San Francisco Bay area or $119,983 in Austin, according to commercial real estate firm CBRE.
CBRE ranks Charlotte among the top markets for high-tech job growth, with the pool expanding 19.3% to 71,050 workers between 2018 and 2023.
Zoom out: The Triangle's well-established tech ecosystem has helped the region attract big employers like Wolfspeed, Fujifilm Diosynth and Meta.
The Raleigh-Durham market now boasts 75,150 tech workers, an increase of 17.9% between 2018 and 2023.
What's next: Charlotte Center City Partners emphasizes tech in its latest "State of the Center City" report, an annual publication designated to persuade prospective investors and companies of the area's potential.
This year's book, titled "Innovation Meets Momentum," highlights Charlotte's intention to transition into an innovation destination. Center City Partners is supporting the establishment of the North Tryon Tech Hub in Uptown, where UNC Charlotte opened CO-LAB, a dedicated space for entrepreneurs.
"Charlotte is not renowned for its entrepreneurship, yet it has a really strong community," says Michael Smith, president and CEO of Center City Partners.
