Strategic growth of the community is essential for the long-term successful development of Wake Forest. Three major initiatives represent the economic development priorities for the Town: Downtown Development; a Live-Work-Play Technology Park; and a technology focused entrepreneurial incubator.
Downtown Wake Forest has experienced a renaissance over the past several years that is tremendously benefiting the community's strategic growth. With nearly $64 million invested in current Downtown developments, the future of the heart of Wake Forest is cultured, social, accessible, livable, convenient, and will spur on new job development for entrepreneurs and new retail businesses alike.
Current projects in Downtown retail development include cultural amenities like Unwined on White, a yoga studio and wine lounge with rooftop seating in the center of S. White Street. PowerHouse Row, Stockbury Manor, Franklin Street Townes, and the Retreat at Renaissance will create more than 164 new living units in the Downtown District to compliment more than 245 existing housing units already bringing life to the heart of Wake Forest. A $2.6 million investment into the Wake Forest Community Library will soon nearly double the size of the current facility, will accommodate more public computer access, and will host multiple youth programs. The Northern Wake Senior Center, a vital and vibrant asset to the community, is currently receiving a $3 million expansion.
Live-WORK-Play Technology Park
The creation of a Live-WORK-Play mixed-use technology park in Wake Forest is a primary goal for the Wake Forest Business & Industry Partnership. With over 8,000 Wake Forest residents driving more than 30 minutes to other locations throughout the Triangle for work each day, the creation of high-tech jobs that bolster the long-term strength of the community as a whole is critical. A potential Live-WORK-Play tech park will include high-tech office spaces, cultural amenities, and a variety of retail and residential options all in a single walkable community. Check our News page for Technology Park updates.
Entrepreneurial Coworking & Accelerator
A core focus of the Wake Forest Business & Industry Partnership is the cultivation and advancement of the entrepreneurial scene already alive in the community. This key area of emphasis seeks to establish an entrepreneurial workspace near Downtown Wake Forest that will provide access to valuable programming, mentorship, regional navigability, and community amidst other entrepreneurs and start-up companies.
A significant component to the success of many locally-grown Wake Forest businesses has been rooted in the opportunity for start-ups to grow and thrive here. Companies like the Wireless Research Center, Ultra Electronics Ocean Systems, and PowerSecure launched and have since substantially expanded their businesses in Wake Forest, while start-ups like FokusLabs and Sugar Maple Interactive are growing rapidly due to resources, mentorship, and a skilled workforce in the community.