1 Boundaries Charlotte, NC and Nashville, TN Comparison 1. The Charlotte MSA The Charlotte MSA consists of 10 counties with a land area of 3,198 square miles. It includes the four cities of Charlotte, Concord, Gastonia, and Rock Hill. The Charlotte MSA has a population of 2,376,688 as of December, 2014.
2 2. The Nashville-Davidson Murfreesboro Franklin, Tennessee MSA The Nashville-Davidson-Murfreesboro-Franklin, TN MSA is comprised of 13 counties and has a land area of 7,484 square miles. It includes the cities of Nashville, Murfreesboro and Franklin. The Nashville MSA has a population of 1,912,819 as of 2014.
3 Overview The Charlotte MSA is located along the border of North and South Carolina within and surrounding the city of Charlotte. The MSA is home to 17 Fortune 1000 companies; 7 of which are in the top 500. The Fortune 500 companies include Bank of America, Lowe s, Duke Energy, Nucor, Family Dollar Stores, Sonic Automotive, and Domtar. North Carolina ranked 3 rd on Forbes.com 2014 list of Best States to do Business. According to the US Census Bureau, Charlotte ranked as the second fastest-growing city in the country in 2014 and is now ranked as the nation s 17 th largest city. Nerdwallet named Charlotte as its No. 5 best place for job seekers and in the top 20 places to start a business. Travel + Leisure named Charlotte Douglas International Airport (CLT) the No. 4 best domestic airport because of its location, access, and check-in. The MSA s four largest employers include Carolina HealthCare System, Wells Fargo Company, American Airlines, and Bank of America. Charlotte is the second largest banking center in the United States after New York City. The Charlotte metro area boasts seven Fortune 500 headquarters, ranking the MSA 20th nationally in number of Fortune 500 company headquarters. These headquarters represent more than $223.4 billion in revenue for More importantly, 291 of the Fortune 500 companies have made a commitment to Charlotte by placing one or more of their facilities within the MSA..Charlotte is home to the Carolina Panthers of the NFL, the Charlotte Bobcats of the NBA, the NASCAR Hall of Fame and the U.S. National Whitewater Center. Nashville is located in the upper middle area of Tennessee. The MSA is home to 6 Fortune1000 companies with 3 in the Fortune 500. The companies in the top 500 include HCA Holdings, Inc., Community Health Systems, Inc., and Vanguard Health Systems, Inc. Nashville ranked 10th in the nation in the Forbes.com 2014 annual Best Places for Business and Careers. It was among the top cities for manufacturing growth on Garner Economics' list of cities adding the most manufacturing jobs between April 2010 and April Forbes.com also rated the MSA as America s third most creative cities by Forbes.com in July 2014 (Richmond was ranked 18th). The MSA s three largest employment sectors include healthcare and social assistance, retail trade, and accommodation and food services. Nashville hosts headquarters of more than 250 healthcare companies, sixteen of which are publicly traded. The health care industry is Nashville s leading sector employing nearly 210,000. Retail trade and accommodation and food services can attribute high numbers of employment to Nashville s thriving Music and Entertainment Industry. Nashville isn t just about the music, however. The city is home to the NFL Tennessee Titans, NHL Nashville Predators and AAA Nashville Sounds. Nashville boasts 113 parks and playgrounds, 69 miles of greenways, 56 golf courses and several fine arts and scientific museums.
4 Higher Education Assets Charlotte MSA The Charlotte metro area is home to 8 four-year and 10 two-year and/or specialty institutions of higher education. These institutions capture a total enrollment of nearly 174,944. A full range of associate, undergraduate, graduate and professional degrees are available including medicine, business, law, and engineering. 33.4% of Charlotte s population holds a bachelor s degree and 10.4% hold a graduate or professional degree. University of North Carolina at Charlotte (UNCC) is a vibrant urban research university committed to high quality undergraduate and graduate education. The university has recently opened a number of new academic buildings with state of the art classrooms and laboratories on the beautiful, wooded 1000-acre campus located in one of America's fastest growing cities -- Charlotte, North Carolina. A wide array of bachelor, master, and doctoral degrees are offered in the seven colleges: Liberal Arts and Sciences, Arts + Architecture, Business, Computing and Informatics, Education, Engineering, and Health & Human Services. As the third largest public university in North Carolina, UNC Charlotte is renowned for business-university partnerships engaged in applied research in exciting fields such as optoelectronics, energy engineering, business, and information technology, involving both undergraduate and graduate students in cutting-edge real-world experiences. University of North Carolina Charlotte s ranking in the 2015 edition of Best Colleges is 201. Davidson College is located north of Charlotte, NC in Davidson, NC. Consistently ranked in the top 10 liberal arts colleges in the nation by U.S. News and World Report. Ranked among top 20 colleges nationally by Princeton Review in several categories such as quality of professors, quality of life and overall academic experience. Ranked 23 in 2014 by Forbes among 'America's Best Colleges'. Graduated 23 Rhodes Scholars. Majors offered in more than twenty fields, ranging from biology, economics, and mathematics to political science, religion and theater. Nashville MSA The Nashville metro area is home to 21 four-year colleges and universities, and 17 community colleges and technical centers. 32.6% of Nashville s population holds a bachelor s degree or higher and 10.7% holds a graduate or professional degree. Vanderbilt University is ranked number 17 in the nation by US News College Compass. Vanderbilt is a private, coed college and boasts a low 14% acceptance rate and an 8:1 student to teacher ratio. The university is comprised of 10 schools and colleges. Among its graduate programs are the highly ranked Vanderbilt Medical Center and Peabody College of Education and Human Development. Belmont University earned the number seven spot on US News College Compass in their list of top Regional Universities (South). Belmont is also a private institution and identifies as a Christian University. Located just two miles outside of Nashville, the university s largest enrollment is focused in the music and entertainment industries. Within 100 miles of Nashville there are 9 four-year public universities, 28 four-year private universities, 15 two-year public schools, and 8 two-year private schools. These schools have a combined enrollment of 199,200 students.
5 Comparison The Nashville metro area has a population that is 68% the size of Charlotte s, and the land area is 57% greater in size. Nashville s metro area population 25 years or older is 69% while Charlotte s metro area population 25 years or older is 66%. As of January 2015, the total workforce in Charlotte was 1,193,700 compared to 904,000 in Nashville. The two regions have similar sized workforces in wholesale trade, professional and business services, and government. The per capita personal income is similar between the two metro areas, with Charlotte averaging $46,119 and Nashville averaging $45,213 annually. The median household income in Charlotte and Nashville are similar as well with $52,916 and $52,779, respectively. In Charlotte, 34% of all households earn less than $35,000, compared to 32% in Nashville. Educational attainment is the close between Charlotte with 33.4% and Nashville with 32.6% of each population having obtained a bachelor s degree or higher. The population proportion holding a graduate or professional degree are close with Charlotte at 10.4% and Nashville at 10.7%. The median age is three years younger in Charlotte compared to Nashville; 33 and 36 respectively. The cost of living is higher in Charlotte according Cost of C2ER data. Charlotte s overall cost is 5% below the national average and Nashville is 9.8% below. Key Points to Consider Nashville s investment in the healthcare industry is important to its regional economy. The industry creates $13 billion in personal revenue annually and health care workers represent 1 in every 8 jobs in Nashville. Just as the healthcare industry is booming in Nashville, the health and life sciences industry in Charlotte is rapidly developing as well.
6 The Charlotte MSA has experienced 5.7% growth since 2007 while the national average was 2.2%, adding 57,022 jobs in the industry. Charlotte and Nashville Comparison Population MSA Population 2,376,688 1,912,819 Median Age Income $52,916 $52,779 Cost of Living (100 = National Average), Q Overall (Index) Housing Transportation Top 10 Private Employers Carolina HealthCare Systems - 35,000 Vanderbilt University - 23,021 Wells Fargo Company - 22,000 Nissan North America - 8,500 Walmart & Sam's Club Stores - 16,100 HCA Holdings, Inc. - 7,000 Bank of America - 15,000 Saint Thomas Health - 6,500 Lowe's - 12,960 Randstad - 3,400 Novant Health - 11,000 Shoney's, Inc. - 3,000 American Airlines - 10,600 Electrolux Home Products North - 2,900 Harris Teeter - 8,239 The Kroger Co. - 2,863 Duke Energy Corp. - 7,800 Community Health System - 2,800 Food Lion LLC` - 6,900 Cracker Barrel Old Country Store - 2,750 Workforce Labor Force 1,193, ,000 Unemployed 67,500 56,128 Rankings Best State to do Business, Forbes.com America's Largest Private Companies - Headquarter Belk - #107, American Tire Distributors Holdings - #119, Alex Lee - #154, SAS - #160 Sports Professional: Charlotte Knight (Minor League Baseball) Carolina Panthers (NFL), Charlotte Hornets (NBA), Charlotte Checkers (American Hockey League), Charlotte Eagles (United Soccer League), Kannapolis Intimidators and Hickory Crawdads (Single-A Minor-League Baseball) College Highlights: UNCC, Catawba College, Wingate University, and Winthrop Pilot Flying J - #7, HT Hackney - #109, Life Care Centers of America - #171, Iasis Healthcare - #181, Ardent Health Services - #197, Ingram Industries - #216 Professional: Tennessee Titans (NFL), Nashville Storm (Minor League Men's Football), Nashville Predators (NHL) Nashville Sounds (AAA Minor League Baseball), Nashville Venom (PIFL Indoor Football) College Highlights: Vanderbilt University, Belmont University
8 Charlotte Demographic Comparison Charlotte MSA Nashville MSA Land Area 3,198 sq mi 7,484 sq mi Data Total population (2014) 2,376,688 1,912,819 Male 51% 48% Female 49% 52% Population 25 years and over 1,573,159 1,091,074 Less than 9th grade 6% 4.2% 9th to 12th grade, no diploma 8% 7.7% High school graduate (includes equivalency) 26% 28.9% Some college, no degree 22% 20.6% Associate's degree 8% 6.1% Bachelor's degree 21% 21.8% Percent High school graduate or higher (2012) 81.2% 88.2% Percent Bachelor's degree or higher (2012) 33.4% 32.6% Higher Education Enrollment 174, ,821 Civilian employed population 16 years and over (2014) 1,040, ,704 Forestry, Fishing, and Agriculture.1% 0.0% Mining 0%.1% Utilities 1.3%.2% Construction 5% 4.8% Manufacturing 9.3% 8.9% Wholesale Trade 6% 5.4% Retail Trade 12.1% 12.3% Transportation and Warehousing 4% 4.7% Information 2.9% 3.6% Finance and Insurance 9.1% 6.0% Real Estate and Rental Leasing 1.7% 1.8% Professional, Scientific, and Technical Services 6.2% 5.6% Management of Companies and Enterprises 3.5% 4.9% Admin, Support, and Remediation Services 7.4% 6.9 Education Services 2% 3.2% Healthcare and Social Assistance 12.5% 14.2% Arts, Entertainment, and Recreation 2.5% 1.9% Accommodation and Food Services 9.8% 10.7% Other Services 4.6% 4.8% Median family income (dollars) $52,916 52,779 Fortune 500 Companies (2014) 7