America's Growth Cities
Charlotte, North Carolina
EB-5 Tech Property in Hot Growth City
North Carolina was named by Forbes as one of technology’s fastest growing states. Live In America EB-5 saw the early signs and provided a portion of the financing for a 200,000 square-foot office building in Charlotte, the state’s largest city. The building was leased to AvidXchange, a software development company that so far has created 850 jobs. That’s substantially more than enough to qualify as an EB-5 investment, perhaps having particular appeal for foreign-trained IT people – engineers, programmers, entrepreneurs – looking to take the EB-5 road to United States citizenship.
One of the most dramatic differences between the old and new technology centers is cost of living. The median price for a home in the established Silicon Valley community of Palo Alto is $2.3 million. In Charlotte a comparable home would cost in the neighborhood of $250,000.
The Queen City, as Charlotte is known, is transforming its image as a banking center into that of being one of the fastest-growing technology hubs in America. In addition to AvidXchange, tech companies like Red Ventures, currently valued at $1 billion, and Charlotte-based Socialtopias and Map Anything, venture capital favorites that raised $4.2 million and $7.3million in 2017 respectively, are continually launching cutting-edge IT projects that need new qualified workers.
Tax-wise, North Carolina has one of the lowest corporate tax rates in America, a modest 3%. Personal and property taxes are at a comparably low percentile.
The largest technology locale in North Carolina is the Research Triangle, situated on 7,000 acres in the state’s Piedmont region. The name Triangle is in reference to the three cities that comprise its points – Durham, Raleigh and Chapel Hill. Or, more specifically, for the three research universities in those cities – Duke, NC State and University of North Carolina. The Triangle today has 260 companies quartered there, the majority IT related. IBM, Cisco Systems, GlaxoSmithKline and Biogen are a few of the many recognizable names. New residents every day move into the Triangle area, drawn by the continuing job growth, the reasonable cost of living and quality of life.
That quality of life is actually a toss-up between East Coast and West as to which is better. Silicon Valley has the glorious Pacific close by, with its surfing and sailing and snorkeling to enjoy whenever. It has the balmy California climate for year-round golf and tennis. The dramatic Coast Range with its horseback trails and getaway cabins stretches above the Valley and San Francisco Bay, that storied Golden Gate city itself just a short drive up Interstate 101. All in all, a very desirable place to live. But, as pointed out, expensive.
North Carolina’s Outer Banks are the state’s recreational pride, their miles of pristine Atlantic beaches a relaxed haven for the surf caster or kite flyer or shoreline stroller. The Wright Brothers got their first plane airborne on the Outer Banks, hence the state’s slogan, First in Flight. On the state’s opposite side, forested mountains are home to the famed Appalachian Trail, the world’s longest footpath, where summer hikers can stretch their legs as far north as Maine or south to Georgia. Come winter, the mountains beckon with ski and snowboarding slopes for all abilities.
We asked Live In America EB-5 founder Robert Roskind to share his thoughts. “North Carolina is an area that EB-5 investors would benefit from actually visiting, so they can witness first-hand its technology growth. They’ll likely hear about the need for skilled IT workers, and probably will spot some successes-in-the-making like we did in Charlotte, given the entrepreneurial climate there. And it won’t take long for them to appreciate the congenial lifestyle, all the things a family can share and enjoy at a modest cost.”
Live In America EB-5 will be writing about other opportunities and lifestyles in other fast-growing technology centers, along with pertinent economic and business details. If you have any specific areas you’d like us to explore, please contact us by emailing us at: