The economy of the City is supported by a diverse mixture of manufacturing, commercial, institutional, service, and governmental jobs. Cherryville's largest employers in the area of manufacturing include Keystone Powdered Metal, a manufacturer of a variety of specialty products employing 220 people and Bradington Young Company, a manufacturer of sofas, chairs, and recliners employing 187 people. The largest among non-manufacturing employers are in the governmental, institutional, and construction sectors.

The Gaston County Public School System which employs 200 people locally, Rutherford Electric Membership Cooperative which employs 186 people, Beam Construction Company which employs 150 people, Carolina Care Center, a convalescent facility which employs 120 people, the government offices of the City of Cherryville which employs 90 people, and Century Care, a convalescent facility that employs 70 are among the largest employers outside of manufacturing.

​

Several local industries are in a positive growth position. R-Anell Incorporated, a manufacturer of pre-fabricated buildings, has recently re-opened its facility in Cherryville and plans to add additional staff as its production increases, Advanced Urethane Solutions, Inc., a manufacturer of urethane gears and an assortment of products is adding more staff positions, and Bernhardt Furniture Company is expanding its furniture storage and distribution operation in Cherryville.
 

Over the past ten years, Cherryville's economy has shifted away from the large manufacturing plants to smaller manufacturing, distribution, and institutional employers. The City of Cherryville and the Cherryville Chamber of Commerce / Economic Development Corporation are beginning a strong push to expand the area's employment base by assisting existing employers in expansion plans and by recruiting new commercial, industrial, and residential interests to the City. The City's proximity to the City of Charlotte, and its location at the center of a three-county region offer favorable locational prospects for continued economic growth.