CNBC names Charlotte 2nd best city for companies

by: Linzi Sheldon Updated:


CHARLOTTE, N.C. - A major financial news channel has named Charlotte the second-best city for companies recovering from the economic downturn.

CNBC's Street Signs looked at the stocks of Charlotte-area companies from November of 2011 to November of this year and found those stocks up an average of 22 percent.

But some CEOs of the featured companies and local business experts said the benefits go beyond those companies' shareholders.

Charlotte Chamber president Bob Morgan said he's not surprised they were singled out for performing well.

"I don't think there's any doubt about that," he said.

"Street Signs" hosted from the NASCAR Hall of Fame as it named Charlotte second on its list of recovering cities.

The program spotlighted local companies, including Lowe's, Family Dollar, SPX, and Bank of America for stock improvements over the past 12 months.

Carlisle Companies, a manufacturer headquartered in Charlotte, was also mentioned.

CEO David Roberts said he believes his company has seen a stock increase from about $42 to about $56 over the past year because it's attracted a skilled workforce and because of Charlotte's growing airport.

"The fact that we have 77 factories worldwide -- we can go to every factory nonstop out of Charlotte in the U.S. and in Europe," he said.

Roberts pointed out performance in the stock market often goes hand in hand with good news in the jobs market.

"No. 1, employment," he said. "We'll end up hiring people rather than laying off people. So you want successful companies in the city."

Queens University business professor Harry Bowen said this recent free advertising for Charlotte may also help draw more companies and people to the Queen City, which is beneficial for all of Charlotte.

"We want that property tax base, we want more people, we want more diversity," he said. "All of these things help the city improve itself in terms of its infrastructure and many of those things we'd like to have."