Fashion Outlets at Lake Norman

With such spectacular growth, booming consumer demand, and untapped locale, Charlotte, N.C. and Fashion Outlets at Lake Norman present a rare opportunity for retailers to access ideal customers.

Charlotte is home to diverse industries that range from international banking to motorsports. This “Queen City,” as it is affectionately known, is home to several Fortune 500 companies including Bank of America, Goodrich, Nucor Corp., SPX Corp., Duke Energy Corp., Sonic Automotive, and Family Dollar Stores. Charlotte also hosts Lowe's Cos., whose new campus headquarters and affiliated companies will employ more than 15,000 people and is located within 10 miles of the Fashion Outlets at Lake Norman site.

In addition to these household corporate brands, Charlotte also is an epicenter for the hugely popular NASCAR and motorsports industry, which enjoys the highest attendance of any sport in the United States. Furthermore, Charlotte is home to the NFL’s Carolina Panthers and the NBA’s Charlotte Bobcats.

With a median household income that is 16% higher than the rest of North Carolina (source: city-data.com), Charlotte was recently listed among 10 recession-proof cities in the United States (source: Forbes.com). Additionally, according to Development Counsellors International, CEOs who were planning to move their companies ranked North Carolina #2 out of 50 states for desirable locations. Moreover, as a powerful sign of sustainable growth, Charlotte was one of only three cities in the United States whose home values continued to increase in 2007.

As the data indicates, the trade area around Fashion Outlets at Lake Norman has experienced double-digit percentage growth rates for the past several years. And, with several exciting community and business developments on the horizon, that pace is expected to continue well into the next decade (source: ESRI).

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According to the U.S. Census Bureau, between 2006 and 2007 Charlotte experienced the sixth largest growth among U.S. metro areas.

A Growing Population = Growing Consumer Demand

Charlotte’s spectacular economic growth also is reflected in the city’s demographics.

Whereas the Charlotte area was home to just over 2.5 million people in 2000, 2.9 million people lived in the area in 2007, and that figure is expected to grow to 3.2 million by 2012 (source: ESRI). The area’s average household income is over $72,000 and is estimate to surpass $87,000 by 2012 (that national average income was just over $48,000 in 2006).

DEMOGRAPHICS SUMMARY
		0-15	0-30	0-50
	Population
	2007 2012 Projection Change 2007-2012	168,771 191,208 13.3%	929,381 1,039,289 11.9%	2,879,071 3,172,237 10.0%
	Average Household Income
	2007 2012 Projection	$67,005 $79,517	$71,242 $86,393	$72,011 $87,708
	Number of Households
	2007 2012 Projection Change 2007-2012	65,878 74,925 13.7%	361,169 405,879 12.4%	1,138,756 1,258,791 10.5%
	Median Age 2007	38.6	37	37.3

Taxable Retail Sales	2006-2007
Mecklenburg County	$14 billion
Iredell County	$1.7 billion
Cabarrus County	$1.8 billion

Traffic Counts:	2006 ADT
I-77 at Amity Hill Rd:	53,000
I-40/I-77 Interchange:	117,000

Location Specifics: Busy Thoroughfare and Untapped Locale

The outlet center will be situated next to Interstate 77, which is a frequently travelled route through the middle Appalachians and Eastern U.S.

Furthermore, currently the closest outlet retail centers to Fashion Outlets at Lake Norman are 50 minutes away in Concord, NC, 1.5 hours away in Blowing Rock, NC and at Gaffney, SC 1.5 hours drive time. No upscale outlet center features the proximity and access to Charlotte as the planned site for Fashion Outlets at Lake Norman.

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According to Development Counsellors International, North Carolina ranked second for best business climate among the 50 states.

The latest Census figures rank Charlotte among the top 10 U.S. cities in population growth.