January 2025 Charlotte Market Recap: Jobs, Growth & Real Estate

January 2025 Charlotte Market Recap

As we kick off 2025, the Charlotte metropolitan area continues to demonstrate its position as one of the most dynamic and fast-growing markets in the country. From job creation and industrial expansion to educational innovation and migration trends, January brought exciting updates that underscore Charlotte’s economic vibrancy. This recap highlights the key developments shaping the region’s future, offering insights into why the Queen City remains a magnet for growth and opportunity in North Carolina.

North Carolina’s Population Growth and Charlotte’s Impact

North Carolina’s population surpassed 11 million in 2024, solidifying its rank as the 9th most populous U.S. state, per the U.S. Census Bureau. The Charlotte region continues to be a key driver of this growth, with Mecklenburg County and nearby areas experiencing rapid expansion. Since the 2020 Census, North Carolina added around 605,000 people.

International net migration also surged, where nearly half (46%) of all net migration was to North Carolina, with a net gain of around 70,000 people from abroad. Many of these newcomers are choosing hubs like Charlotte for its strong job market, affordability, and vibrant culture.

“Charlotte’s blend of opportunity and quality of life makes it a top destination,” noted a spokesperson at the North Carolina Office of State Budget and Management. With the state projecting sustained growth, Charlotte is set to remain a magnet for both domestic and international migration, reinforcing its role as a leader in North Carolina’s economic and cultural evolution.

Amazon's Expansion Boosts Employment Opportunities

Amazon unveiled plans for a new same-day delivery facility in Kannapolis, adding over 100 jobs to the region. This $40 million facility reflects growing demand for logistical hubs in the Charlotte area. The hybrid fulfillment and delivery facility, which aims to streamline delivery processes for local customers, is expected to significantly benefit Kannapolis’ economy and position it as a regional logistics leader. (Charlotte Regional Business Alliance). Kannapolis Mayor Darrell Hinnant said, “We’re pleased Amazon chose to open a second location in Kannapolis, creating 100 new jobs here. Their growing presence in Kannapolis is another sign that we’re a top place for corporations in the U.S.” (Charlotte Business Journal).

Toyota Hits Key Milestone in North Carolina

Toyota continues to make waves in North Carolina with its groundbreaking work on a $13.9 billion Toyota factory battery plant near Greensboro. This facility is the largest of three in relation to the state’s involvement and its anticipated economic impact. They already hired around 1,400 people for jobs and expects to create around 5,100 jobs (at minimum). The plant’s progress is a testament to Toyota’s commitment to sustainability by producing batteries for its hybrid-electric vehicles. (Business North Carolina).

UNC's Kenan-Flagler Business School Expands Offerings

UNC’s Kenan-Flagler Business School introduced a Master of Science program in sustainability and entrepreneurship. This new addition aims to equip professionals with the tools to drive sustainable innovation in businesses across North Carolina. The 10-month program reflects the increasing demand for sustainable practices and underscores the state’s investment in education and workforce development. Curriculum covers key business disciplines like accounting, finance, marketing, analytics, economics, strategy, leadership, operations, and business communication. Courtney Knoll, associate dean of the new program said, “It strengthens our graduate degree offerings for recent university graduates who are interested in business careers and prepares them to effectively compete in the job market.” (Business North Carolina).

Data Centers Signal Economic Growth

Powerhouse Data Centers announced plans to establish a 122-acre, state-of-the-art facility in Charlotte. This development, called PowerHouse Charlotte, represents a multi-million-dollar investment in Charlotte’s digital infrastructure and is expected to create significant employment opportunities. Vertical construction on PowerHouse Charlotte anticipates starting in March 2026, with all four data centers scheduled to start in 2027. As demand for data storage and cloud services grows, this project aligns with the region’s tech-forward trajectory. Karen Petersburg, PowerHouse’s vice president of development and construction said, “Our campus is uniquely designed, setting a new standard for new generations of deployments and hyperscale tenants.” (Charlotte Business Journal).

Charlotte Tops U-Haul Migration Report

Charlotte emerged as a top destination for movers in 2024, according to U-Haul’s latest migration report. U-Haul’s report refers to “an effective gauge of how well states, metros, and cities are attracting and maintaining residents.” (MSN). Charlotte ranked second out of the top 25 U-Haul growth metros, with three North Carolina cities making the top 14. The Queen City led the nation in one-way moves, highlighting its attractiveness to families, professionals, and businesses seeking a vibrant and growing community in the Charlotte market.

Charlotte’s affordability, job market, and quality of life are key drivers of this trend. “Most people moving around the world are moving for work, but some move for family reunification, quality of life, and more,” said UNC Chapell Hill’s director of Carolina Demography, Nathan Dollar. Charlotte follows closely behind Dallas for the first spot, with Phoenix following behind. (Business Wire).

German Manufacturer Expands in Charlotte

Groninger USA, a German manufacturing company, has announced a $15.1 million expansion in Charlotte. This investment will enhance the company’s local operations and add 60 new jobs over the next five years, reinforcing Charlotte’s role as a hub for advanced manufacturing. These new positions will grow its workforce from 112 to 172 employees and their average annual salary is estimated around $76,037. The 27,500-square-foot facility’s expansion, located near the Charlotte Douglas International Airport, reflects the region’s ability to attract international businesses and support industrial growth.

Mark Jerrell, Mecklenburg Board of County Commissioners Chair said, “Groninger’s expansion is an opportunity to create employment in various fields across our community.” Mayor Vi Lyles added, “This investment represents new jobs and more – it’s a vote of confidence in our local community’s potential, our commitment to advanced manufacturing, and our ability to attract companies from around the world.” (WCNC).

Charlotte Douglas Airport’s $37 Billion Economic Impact

Charlotte Douglas International Airport continues to be a powerhouse for the region, generating a staggering $37 billion annual economic impact, according to a new analysis. The airport supports over 427,000 jobs across North Carolina, making it one of the region’s largest economic drivers. As one of the busiest airports in the world, Charlotte Douglas had over 53 million passengers fly through CLT in 2023. “CLT is a major economic engine for the Charlotte region,” airport CEO Haley Gentry said.

Beyond aviation, the airport’s ripple effects span industries like hospitality, logistics, and real estate, strengthening Charlotte’s position as a gateway for business and commerce. With continued investments in infrastructure and growth, the airport remains a cornerstone of the region’s prosperity. (Charlotte Regional Business Alliance).

Conclusion: Charlotte is Growing

January set the tone for another promising year in Charlotte. With significant job creation, educational advancements, and an influx of new residents, the region is well-positioned for sustained growth in 2025. Whether through groundbreaking industrial projects or innovative academic programs, Charlotte continues to attract talent, investment, and opportunities. As the city evolves, it remains a beacon of progress in the Southeast. Stay tuned for more updates as we track the exciting developments shaping this thriving market.

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Rise48 Equity is a Multifamily Investment Group with local offices in Phoenix, AZ, Dallas, TX, and Charlotte, NC. “At Rise48 Equity, we provide opportunities for accredited and non-accredited investors to protect and grow their wealth and achieve passive cash flow. Our team brings expertise to acquire, reposition, and return capital to investors upon reaching our business plan. Through our research and strategically formed partnerships, we acquire commercial multifamily apartment properties, strategically add value to the properties, and create passive income for our investors through cash flow and profits from the sale.”

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