Is Charlotte Becoming the Financial Capital of America?


When considering some of the most affluent and capital-heavy areas of America, the mind will naturally wander to locations such as New York, Connecticut, California and Texas. Indeed, the slew of holiday homes in the Hamptons and Berkshires, the properties nestled in the hills of Los Angeles and the old money of Texas high society would lead to this impression. Yet, there is one city that is leading the way with how it handles money – Charlotte, North Carolina.

This news comes primarily from the news that BB&T and SunTrust are merging to form Truist and basing their headquarters in Charlotte, but also the fact that Charlotte is aptly named the nation’s second banking capital.

Charlotte is the Nation’s Fifth-Fastest Growing City

Indeed, both the Bank of America and Wells Fargo are situated in Charlotte, while Honeywell and Lowe’s have both announced that they will be moving to the city. This will undoubtedly lead to job creation and investment in the local infrastructure as thousands involved in the finance and tech fields will call the city their home. Charlotte is the fifth fastest growing city in the USA, and with incentives that attract such companies, that’s no surprise. Part of the reason for the success of Charlotte is that it is offering a quality of life that is missing from some of the wealthier locations – namely LA and NYC. By offering not just a way of life that everyone strives to have, but also work that looks into the technological and financial future of the country, Charlotte offers the best of both worlds. It already has a reputation for being strong in the financial community, and every step forward by several companies shows why this is.  

via pixabay

New Financial Opportunities

Still, when it comes to finance, it’s all about what the future can offer. Currently, Charlotte is also making a name for itself in the field of cryptocurrency. There are a range of Bitcoin ATMs as well as companies such as Leidos, CyberCoders and IBM which are dabbling in blockchain, the underlying format of cryptocurrency. The future is definitely revolving around alternatives to how we saw and handled money before. Digital payment options are on the rise, too, with standard businesses looking at new ways in which they incorporate e-wallets and digital payment methods into their existing structures. Indeed, looking at the Magical Vegas Casino online offering, payment options include not just the standard Visa and Mastercard options, as well as the staple of PayPal, but platforms such as Neteller and Paysafecard. As companies are looking at ways in which they can exhibit the technology of the future when it comes to financial matters, Charlotte, NC, could become the hub that gives the world all this new technology.   

While up-and-coming banking and tech professionals are finding themselves living more like the cast of Friends than they would have expected in their big cities, Charlotte offers them more bang for their buck. With the mountains and coast a short drive away and the seasonal temperatures enjoyable, the city is a hotbed of millennial activity and promises to grow further. Charlotte resembles the American dream that has been lost to sprawling metropolises.