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Its good transportation facilities, work force, and business climate make Charlotte attractive for companies seeking to relocate. In addition, over 340 foreign firms are represented in the city. Germany leads with 89.
Charlotte's standing as a business and financial center received a large boost when Royal Insurance, a company that has been in New York City for 135 years, decided to relocate its headquarters there. Among the reasons were the high cost of doing business in New York which necessitated the need for a more economical location and the desire to provide a better quality of life for its employees. Royal will complete its move to the new $30 million headquarters on September 1.