Over the years, numerous factors have led to boomtowns. Oftentimes it is a rush for certain precious resources, as has been the case with silver, gold, and oil. Large construction projects, attractive climates, being close to a metropolitan area, and a dramatic rise in employment can all be factors as well.
It’s no secret to Charlotteans that Charlotte is growing rapidly in population. People are flocking to Charlotte in droves for reasons such as better job opportunities, low cost of living, or temperate weather conditions. What was once was a hidden gem of a city is now becoming a key contender among major US cities.
What is a Boomtown?
What makes a place a boomtown? According to Merriam-Webster, a boomtown is defined as “a town that experiences a sudden growth in business and population…” Cities such as Atlanta, Georgia and Atlantic City, New Jersey are just two examples of notable boomtowns of the more recent past. A boomtown generally sees a rapid increase in population spurred by new jobs or some other incentive. More jobs and resources then spring up due to the increase in population, leading to a snowball effect of growth and prosperity.
What Makes Charlotte a Boomtown?
According to the UN, Charlotte is projected to have a 71% population increase over the course of the next 15 years. In fact, Charlotte is already proving to be one of the fastest growing cities in the country. From 2010 to 2013 it was second only to Austin, Texas in regards to population growth and will most likely outpace Austin in the coming years. This rapid growth is set to cause economic stimulation, improved public transportation, and a booming real estate market which, as anyone living in the area can attest, is already happening at a very quick pace.
What Has Caused this Sudden Growth in Charlotte?
In Charlotte it is clear that there are numerous reasons for the dramatic boom. Two of the major contenders in the boom are the banking industry and the logistics industry. Charlotte is centrally located to almost everywhere. With major ports, extensive railway systems, and an ever-growing international airport, it makes perfect sense for large and small businesses alike to set up shop in the Charlotte area.
It’s also well known for being the second largest financial center in the United States, second only to New York City. Bank of America has its headquarters in Uptown Charlotte, and the headquarters of East Coast Operations for Wells Fargo is also located in the area. With so many advantages and career opportunities it’s no wonder that Charlotte has become a hub for businesses of all sizes.
A beautifully temperate climate is another extremely attractive draw, particularly to those in the northeast cities who have experienced increasingly cold and snowy winters that last well into the spring months. With Charlotte’s short winters and long stretches of spring and fall weather, it makes perfect sense that northerners would be flocking to the area to escape the brutal winters.
Regardless of whether it’s business opportunities, career options, temperate climate, or affordable living are responsible for the current success of Charlotte, there is no question it is clearly a boomtown. Charlotte is poised to climb the ranks of the largest and most diverse cities in the US and is already proving itself to be a hub for the best and brightest talent in the country.