I was recently visiting some friends in Charlotte, who originally lived in the New River Valley, and they took me and my fiancee to their workplace on New Year’s Eve. The friend worked in a securities department of one of the large banks based in downtown Charlotte. Her "office" was nothing more than an open cubicle. There must have been 500 of these cubicles on this one wide-open floor of the mega-bank building. When I looked at each of the "offices" I noticed that most every "office" had a sign of their alma mater on their desk. As I walked down the line, I saw Auburn, Virginia Tech, North Carolina, Florida, Clemson, North Carolina State, etc. Just about any college in the southeast was represented. I then asked my friend about the ages of her co-workers and she said most were under 40 years old. At that point it was real. My simple observation illustrates Charlotte’s net gain in the 25-34 age segment of the educated population – and that gain is at the expense of the Roanoke and the New River Valleys.
Why Charlotte? Of course, Charlotte has the banking cluster, but what differentiates Charlotte from Roanoke. At one time they were similar in size, until, US Airways placed its hub in Charlotte, and some think that was what help boost Charlotte. Certainly, the consolidation of the banking industry in Charlotte was a big boost too – probably even took some of Roanoke’s bank board rooms. It is also worth mentioning that there were several multi-level condo buildings that were under construction in the downtown – perfect for this young adult group. Roanoke and Blacksburg both have made some progress toward downtown living for young people, but each have a ways to go. As for transportation, my friend has sold her car. She does not need it. She either takes the FREE trolley to work each morning or walks. She can pickup all of the essentials along the way. Not sure we can say the same, but wouldn’t downtown living revitalize the downtowns in our region?
Does Roanoke and the New River Valley have a cluster or amentities that would attract and retain the young educated workforce? Charlotte does NOT have a major research university – we do in Virginia Tech. Higher education and perhaps health care are the most notable high employer clusters. There is no trolley, but there is certainly a fine alternative in the Smart Way Bus. Many skeptics say, but we do not have the jobs. Oh really? Why are local firms relentlessly trying to fill open spots with the young educated workforce and one company is moving to Richmond because they cannot find the talent here to grow? There are 40,000 colleges students in this region at all times. I do not buy it. A bridge is needed. Hopefully, this blog can help in some small way.
