AR_Archive

Challenges:

  • Securing legislative approval of economic development tools such a tax increment financing that can be used to promote development along transit and business corridors.
  • Developing a local economic incentives policy that attracts new business, remains effective in a changing economic environment and is competitive with other cities and consistent with the Charlotte's Smart Growth policy.
  • Establishing and aligning the City's existing small business assistance programs with the new Small Business Enterprise Program.
  • Identifying the City's role in growing the technology sector of Charlotte's Economy

  • Responding to the economic impacts and emerging security concerns as a result of the events of September 11.
Promote Economic Opportunity
  • Awarded $616,301 in grants for grease trap, facade, security and infrastructure improvements for area businesses.  These projects improve the overall appearance and operation of area small businesses
  • Helped to recruit Johnson & Wales University to open a center City campus in 2004, bringing 300 to 400 new jobs and an economic impact estimated at $60 million a year.
  • Assisted in recruiting the headquarters of the Billy Graham Evangelistic Association that will add 450 jobs and the Billy Graham Museum/Library, which is estimated to attract more than 200,000 visitors each year.
  • Collaborated with citizens to shape a strategy to address the rehabilitation and future development of "big box" facilities.
  • Helped to recruit AOL/Time Warner Cable Division to an Arrowood Road location through a City/County investment grant.  The development will include 115,000 square feet in its first phase and will create 740 new jobs.

Charlotte's Seven Areas of Focus:

  • Addressing the economy's impact on the Workforce Development Board's adult job placement program, which was suspended in FY 2002.  The number of adult job placements declined from 1.057 in FY 2001 to 451 in FY 2002.

Successes:

  • Helped create or expand 11 businesses with Equity Loan grants.  A provision of these loans requires each business to create employment opportunities.
Business Assistance Grants

Charlotte's Seven Areas of Focus: