U.S. News & World Report ranks Charlotte as one of the top 20 best places to live in the United States. Its warm climate, Southern charm and impressive job growth has lured many transplants to the North Carolina city. Charlotte is also a U.S. banking center with blossoming energy, manufacturing, healthcare and environmental tech sectors. However, not all is sunny in Charlotte. Political controversy has offset some of the city’s economic gains, and recent racial unrest may also pose a threat to the city’s growth.
Protests over the September 20 shooting of an African-American man by police in Charlotte devolved into riots and violence. The shooting is being investigated. Economic experts say police shootings followed by periods of protest, unrest and violence can have a lasting impact on a community’s local economy.1