For years, Charlotte has compared itself to its closest southern city, Atlanta. But a new peer city has emerged as one of Charlotte’s top rivals in the wake of the pandemic and revival of corporate relocations: Dallas.
Why it matters: Charlotte is increasingly going head-to-head with Dallas in economic development deals worth thousands of jobs and billions in investment, particularly as Dallas comes for the Queen City’s banking crown, dubbing itself “Y’all Street.”
- “They’re trying to compare themselves to an alternative to New York City or Wall Street,” Charlotte Center City Partners’ Michael Smith says. “And we’re going to have to compete.”
The big picture: Charlotte, home to Bank of America’s headquarters, is the No. 2 banking hub in the country, based on assets.
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- But the Dallas metro has quickly moved up to the second-largest hub for financial workers, behind only New York, with about…