Wake Forest Economic Development News Feed

Wake Forest Area Named One of Nine Most High-Growth Areas in the Nation

Wed, 06 Jan 2010 12:40:10 +0100

Wake Forest, NC – On January 5, 2010, Gadberry Group announced its list of last year’s nine most notable high-growth areas in the US – Gadberry Group’s “9 from 2009.” Wake Forest, NC earned the number 6 spot on that list.

“As a Wake Forest native, I’ve recognized the explosive growth that our community has experienced. The Gadberry data will give us the quantitative tools we need to continue to draw new development to Wake Forest,” said Don Stroud, Wake Forest Area Chamber of Commerce Board Co-Chair.

Headquartered in Little Rock, AR, Gadberry Group provides location intelligence services and data for the world’s top retail brands.

Wake Forest is located northeast of Raleigh and was recognized by Forbes magazine in 2007 as the 20th fastest growing suburb in the US. According to Gadberry data, the Wake Forest area grew from 8,150 households in 2000 to 17,803 in 2009, or 118%. Wake Forest had 13 Emerging Blocks, the second highest in the group.

Wake Forest saw an overall decrease in median age, dropping from 34.5 in 2000 to 34.1. Average household income for Wake Forest increased from $70,148 to $82,771.

“We are posed to show the nation and world Wake Forest. This area has all the tools to prosper in the new decade and century. We have the viable educated workforce and all the criteria for businesses of the future,” Wake Forest Area Chamber of Commerce President Marla Akridge said.

Gadberry Group uses proprietary products to employ a statistical ranking system that evaluates the 17,000 Census Places. Selection criteria and ranking methodology include percent change, absolute change and emerging Census blocks (those growing from less than 10 households in Census 2000 to over 100 in 2009). The analysis considers total growth from 2000 to 2009, as well as that from 2008 to 2009. Gadberry also weights the analysis using key demographic variables such as ethnicity, household income, net worth, economic stability, length of residence and age.

The firm provides location-based services and information data products for clients who demand the most current, accurate and precise household and population data for their site location analysis.

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LOCAL MEDIA CONTACTS: Wake Forest Area Chamber of Commerce

Marla Akridge • Executive Director
Marla@wakeforestchamber.org • 919-556-1519

Jade E. Biggio • Director of Communications and Events
Jade@wakeforestchamber.org • (919) 556-1519

MEDIA CONTACTS:

Anita Smith • Neapolitan Agency • 501-454-3374

Larry Martin • Gadberry Group • 501-907-7100

Carl Zeiss Optronics USA Inc. to Locate U.S. Corporate Headquarters in Wake Forest

Tue, 24 Nov 2009 11:31:39 +0100

The Wake Forest Area Chamber of Commerce is excited to announce that Carl Zeiss Optronics USA Inc. (ZeO USA) will locate its U.S. corporate headquarters in Wake Forest, N.C.

“Carl Zeiss Optronics USA is exactly the type of corporate citizen that North Carolina is looking to attract,” Wake Forest Area Chamber of Commerce Board Chair Don Stroud said. “Our community is pleased that the Zeiss Corporation recognized all that Wake Forest has to offer and the Chamber is proud to have played an integral role in bringing Zeiss to Wake Forest. Moreover, we are thankful to our Town Mayor and Town Manager for their significant and invaluable leadership and support throughout the entire process.”

Headquartered in Oberkochen, Germany, Carl Zeiss Optronics GmbH is a member of the Carl Zeiss Group. The company is one of the leading manufacturers of advanced optronic, optical and precision engineered products for military and civilian applications. These include border surveillance, space technology and reconnaissance on land, water and from the air.

“We welcome Carl Zeiss Optronics USA to Wake Forest, NC and look forward to a mutually beneficial relationship in the future,” Wake Forest Mayor Vivian Jones said. “I am very pleased and proud of the efforts of the Wake Forest Area Chamber of Commerce’s Economic Development group to bring Carl Zeiss Optronics USA Inc. to Wake Forest. And, I recognize and appreciate the joint efforts of our partners, NC Department of Commerce, NC Military Foundation, NC Military Business Center, Wake County Economic Development, North Carolina State University, and the Research Triangle Regional Partnership.'

Carl Zeiss Optronics USA has partnered with Wake Forest-based 3 Phoenix to provide optical systems for the Department of Defense.

“Carl Zeiss Optronics USA, Inc.’s decision to locate in North Carolina is a significant development for our statewide defense industry, and will be a critical pillar to growing our capabilities in military and homeland security surveillance and reconnaissance technologies and products,” said Gov. Bev Perdue in a statement released by the NC Military Foundation. “This is further proof that North Carolina is the desired location for defense industry technology companies.”

Top 10 Cities Primed for a Real Estate Recovery

Mon, 17 Aug 2009 10:52:13 +0100

U.S. News & World Report evaluated 79 cities across the country to determine the top cities in the nation primed for a commercial real estate recovery. They reviewed combined office and retail vacancy data from real estate research firm Reis Inc. to establish the cities best - and worst - positioned to make a commercial real estate comeback. The Raleigh-Durham metro area is in the top 10 cities primed for a commercial real estate recovery. Read the article

Projects Going Vertical in Wake Forest

Tue, 19 May 2009 15:03:19 +0100

Siena Office Park:

The first of four buildings is under construction at Siena Office Park, located at the intersection of the 98 Bypass and Siena Drive. This 7,500 square-foot Medical / Professional Office building is for sale or lease and is being constructed as shell space with custom interior finishes available. The all brick, garden-level suites can range from 1,422 square feet up to 7,500 square feet. Construction on this building is expected to be complete by mid-summer. Three additional similar buildings are planned for the Siena Office Park. The buildings will occupy 3 acres of land and will be surrounded by 5 acres of beautiful landscaping. In addition, 1000 feet of Wake Forest Greenway will run through the Siena Office Park. For more information, please contact Russell Gay at 919-961-8725.

900 Franklin Street:

Construction is underway on a two-story 14,400 square-foot Mixed Use / Flex Space building at 900 Franklin Street. Located on 1.1 acres at the northwest corner of the N.C 98 Bypass and South Franklin Street, this building is planned for a mix of uses including restaurant, personal service and office. Two known tenants are a pharmacy and a medical office. Please contact Donald Matthews for more information 919-494-4040.

Neuse Industrial Park:

A lot is happening in Neuse Industrial Park. Various projects have been completed, are close to completion, or have recently been approved. A 14,940 square-foot multi-tenant flex space building has been completed at Leighton Ridge Drive (Neuse Industrial Park – Lot 8). The 12,000 square-foot Puryear Trucking Company building at the intersection of Leeland Ridge Drive and Leighton Ridge Drive is near completion and will be used as office, maintenance and parking space for Puryear. A 19,200 square-foot multi-tenant flex space building located on Unicon Drive is complete (Neuse Industrial Park – Lot 7). Two buildings at 2623 Leighton Ridge Drive with a total of 14,525 square feet of multi-tenant flex space are completed. One of the spaces is occupied by New Star Erectors, a crane rental company. Two additional multi-tenant flex space buildings with a total of 9,600 square feet are under construction at 2623 Leighton Ridge Drive. Shaw Sanitation is occupying a new 109,335 square-foot building for their office, warehouse and storage yard. A 12,722 square-foot multi-tenant flex space building has been approved to be constructed at the intersection of Leeland Ridge Drive and Leighton Ridge Drive (Neuse Industrial Park – Lot 12).

Corporate Chaplains:

The construction of two office buildings with a total of 48,000 SF is well underway at the 98 Bypass and Sienna Drive. The first of the two buildings should be completed in late October of this year. The buildings will house Corporate Chaplains’ three ministries, Corporate Chaplains of America, Community Chaplains of America and Lanphier Press. The campus will have a 900 foot greenway for public use. “Our desire is to have a generational footprint for Christ in workplace and community ministries with this campus on Hwy 98,” says Jeff Hilles, Senior Vice President of Corporate Chaplains.

Forbes Ranks Raleigh Metro Area #1 Best Place for Business

Tue, 31 Mar 2009 19:07:19 +0100

For the third year in a row, Forbes Magazine ranked the Raleigh Metro Area as the Best Place for Business and Careers. The Triangle's strong job growth (past and projected), low costs of doing business and a highly educated work force were cited as assets that landed the area at the top of the list. Read the full article.

Wake Forest Economic Development Launches Business Retention and Expansion Program

Thu, 26 Mar 2009 15:53:03 +0100

In response to a call from Wake Forest Mayor Vivian Jones for an initiative to reach out to the local business base during this difficult economic time, Wake Forest Economic Development has launched a Business Retention and Expansion (BRE) program.

“We want to reach out to our existing businesses to make sure they continue to grow and flourish in Wake Forest, and that they have the resources necessary to do so,” Jones said.

Through an aggressive schedule of business visitations and consultations with a broad array of community partners in economic and workforce development, government, education, and industry, Wake Forest Economic Development stands ready to assist Wake Forest employers in meeting the challenges and opportunities in today’s global marketplace.

Mayor Jones personally launched the program this week, and is planning to make 10 existing industry visits in the first 10 days of the program.

“We want our existing businesses to know that we appreciate having them in Wake Forest, and we want them to know who to contact when they have a need or concern,” Jones said.

Executive Director of the Wake Forest Area Chamber of Commerce Jodi Ann LaFreniere points out that businesses that stay competitive are more likely to remain in the community and possibly expand. A healthy local economy depends on the well-being of a community’s existing firms. She says that efforts aimed at helping local businesses survive and grow in the local community are key to successful economic development.

“Forty to eighty percent of all new jobs are created by existing companies, and therefore it makes sense to have a strong and strategic focus on our existing business base,” LaFreniere said. “The odds are better of attracting new firms if existing ones are happy with the community and feel their needs are being met.”

Economic Development Chair for the Wake Forest Area Chamber Jim Bell agrees.

“Within Wake County approximately 50% of payroll comes from businesses with less than 50 employees, within Wake Forest that number is much higher,” Bell said. “It is very important that we reach out to our existing businesses both small and large to ensure they know that Wake Forest values them. The Mayor and the Chamber, through Economic Development, are dedicated to letting our businesses know what resources are available and that we appreciate them being in Wake Forest.”

The services provided by the BRE program are free. The program serves to listen to companies’ needs and identify all of the appropriate resources, including local, state and private entities, that can benefit businesses and enable them to thrive in today’s economy.

“Many people think economic development is bringing large businesses to the area,” Bell said. “That is part of economic development, but even more important is helping businesses to understand what a great place Wake Forest is to start, relocate and operate a business. The Business Retention and Expansion program will be a great economic development tool to help our community.”

The BRE has outlined several initial services to aid area businesses including:

• Business Expansion Assistance to assist companies as they search for a new physical space and provide information about available programs and infrastructure development
• State Financial Programs to listen to needs and identify possible state financial programs that will benefit companies
• Workforce/Training-Related Assistance to help those in search of new employees or training for current employees. The BRE can direct you to the proper personnel within the Employment Security Commission or community college system
• Local and State Permit Assistance to help businesses navigate through the process
• Act as Liaison to Local Government and assist in making appropriate connections - from permits to Department of Transportation needs, such as traffic signals and turn lanes
• Incentives Information to make businesses aware of incentives available to them, and identify financial programs and tax credits that may be available to companies
• Provide Research Assistance for Local Supplier and Community Data through access to comprehensive research tools and resources that provide demographic data, studies, maps and more

“Initially, we want to demonstrate community support for local business and solve short-term problems. Long-term we want to increase the competitiveness of local establishments and use information gathered as necessary input into the implementation of a strategic plan for economic development,” LaFreniere said.
Information gathered from business visitations will be compiled into an annual report and shared with stakeholders and elected officials at least annually. All information provided by companies is confidential and will only be shared in aggregate form.

Companies interested in scheduling a business visit can contact Jennifer Gaston, economic development coordinator, at (919) 556-1519 or email jennifer@wakeforestchamber.org. Wake Forest Economic Development is a program of the Wake Forest Area Chamber of Commerce.

Sprig Opens in Downtown Wake Forest

Thu, 26 Mar 2009 13:20:02 +0100

Sprig, a new shop, opened at 111a South White Street in downtown Wake forest. This charming shop features fresh-cut flowers, garden-themed gifts, greeting cards, handmade jewelry, organic body lotions, herbal soaps and soy candles.

Chamber to Lead Economic Development for Town

Sat, 24 Jan 2009 18:52:13 +0100

By mutual agreement between the Wake Forest Downtown Revitalization Corporation (DRC) and the Wake Forest Area Chamber of Commerce, the Chamber will now assume economic development activities for downtown Wake Forest as part of the Chamber’s overall economic development program.

Downtown economic development was one of five priorities identified at a strategic planning session of the Wake Forest Area Chamber of Commerce this past year and has become an important component in the Chamber’s overall commitment to the Town of Wake Forest to provide economic development activities for the entire community.

“This partnership agreement allows us to have a coordinated and focused effort toward the continued revitalization of downtown Wake Forest and continued strides on the implementation of the Renaissance Plan,” Chamber Executive Director Jodi Ann LaFreniere said.

The Chamber and the DRC will assist and complement each other’s downtown economic development efforts through various roles and responsibilities as they relate to this important function. The Chamber will organize and lead monthly meetings of a separate downtown economic development task force with key stakeholders; continue to plan and manage the annual Economic Development Forum (February 2009); provide structured outreach to both existing and potential downtown stake holders; provide a progress report and prioritization objectives with regard to the Renaissance Plan; distribute a four page quarterly newsletter as a pull-out in the monthly Chamber newsletter; add a downtown section to the economic development web site scheduled for launch in February 2009; and participate in the DRC monthly board meetings.

Both the Chamber and the DRC have a strong commitment to downtown and want to ensure that all plans and opportunities to enhance and protect the economic vitality of downtown are fully realized.