Saturday, April 20, 2024

Tech job growth sizzles in Charlotte

Allstate considered Chicago and Dallas before picking Charlotte for an expansion expected to add 2,250 jobs over the next few years, one of the biggest economic-development boosts in city history. A number of the jobs will be in information technology, and a key reason for the region’s attractiveness is its supply of tech-savvy workers, says Harriet Harty, a senior human-resources executive at Allstate. Others are coming to the same conclusion, with Charlotte adding tech jobs at the fastest clip of 50 metro areas over the last five years, according to a study by the CBRE real-estate company. The area added about 21,700 tech jobs between 2011-16, a 77% increase.

The boost reflects considerable hiring by the city’s financial-services companies, large corporations and an emerging startup scene, according to Colin Yasukochi, the CBRE analyst who authored the report. CBRE identifies about 50,000 tech workers in the city, about 20% fewer than in the Raleigh-Durham market. The Triangle’s tech job market grew 51% over the last five years.

The report also cites rapid increases in millennial populations living in downtown areas in both markets, up 12% in Charlotte and 11% in Raleigh-Durham. The U.S. average was 4.6%. (CBRE identifies millennials as those aged 20 to 29.) While apartment rents have soared in recent years, Charlotte’s average rate of about $1,035 a month ranks 34th-highest of the 50 markets; the Triangle was 33rd. CBRE believes that tech employment is growing more quickly outside Silicon Valley, Boston and other traditionally dominant markets because Charlotte, Atlanta and other areas are less expensive and therefore more attractive for many workers.

“Tech employees typically ask how much they will be paid, and do [they] like the quality of life in a certain city. And a lot of tech workers are saying yes to the major North Carolina cities,” Yasukochi says.

CHARLOTTE — Allstate will invest $22 million over three years in a new Charlotte operations center, adding 2,250 jobs with an average annual salary of $46,800. The Northbrook, Ill.-based company now employs more than 1,400 people in the region. Allstate could receive up to $17.8 million in state incentives if it meets hiring goals.

CHARLOTTE — Brighthouse Financial began public trading on Aug. 7. The annuities and life-insurance company was spun out of MetLife, which opened its local retail operations hub in 2013. The company employs 1,200 people, including about 800 here.

CHARLOTTE — Ilham Kadri was named president and CEO of Diversey. Bain Capital Private Equity is purchasing the Sealed Air cleaning-products division, along with its food-care division, for $3.2 billion. Kadri has been president of the division since 2013.

CHARLOTTE — Atlantic Packaging opened a $10 million, 80,000-square-foot packaging center that will employ 25 people. The Wilmington-based packaging and printing company was founded in 1946.

HUNTERSVILLE — DuraFiber Technologies planned to shutter plants in Salisbury, Shelby and Winnsboro, S.C., if it doesn’t find a buyer by Sept. 11. About 800 workers could lose their jobs. The fabric and thread manufacturer employs another 1,800 people globally.

David Mildenberg
David Mildenberg
David Mildenberg is editor of Business North Carolina. Reach him at

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