With unemployment at a minuscule 4.2%, the city had engineered a light rail public transit line, a modern public transportation center and a multi-million dollar indoor sports arena. Restaurants and retail moved in. Museums built new spaces .The plan was to transform the city into a savvy center of the modern South.If anyone wondered why I moved to Baltimore...
Then there's the "after."
In the last four months of 2008, the Charlotte area lost more than 3,000 financial jobs. Unemployment jumped to 6.6% starting in 2008, then 8%. By February of 2011, the number reached its terrible peak: 12.9%, even higher than the national rate of 9.7% at the time.
I'm curious about the book cited in the article, called Banktown: The Rise and Struggles of Charlotte's Big Banks. Hope to get to read it sometime soon.