New report shows economic momentum in Winston-Salem

A new report from Greater Winston-Salem Inc. shows positive trends in employment, economic expansion, and downtown living.

downtown-Winston-Salem-skyline

Census data from July 2022 estimates 251,350 people live in Winston-Salem.

Photo by WStoday

Table of Contents

New data from Greater Winston-Salem, Inc. shows the Twin City is growing. The chamber of commerce recently released its third quarter report — and it shows positive trends. Let’s take a look at the highlights:

Working in Winston-Salem

  • The city is outpacing much of the Southern US in employment growth. Employment is growing about one point above the state and national averages.
  • 26 projects — generating 1,814 new jobs and a combined $667 million in capital investment — have been announced since 2020. That includes expansion of existing companies and companies that have decided to create a presence in Winston-Salem.
  • There are 56 potential projects that could bring in a total of $7 billion in investment and create as many as 11,000 new jobs.

Living in Winston-Salem

  • Commercial real estate firm Linville Team Partners says downtown rent rates are some of the most affordable in the Triad region and in midsize metros in the Carolinas.
  • There are 5,275 downtown units that are currently occupied, available, or under construction.
  • The Artreaux on North Trade Street in Industry Hill is now leasing 242 apartments and townhomes.
  • There are 429 new units proposed in Industry Hill with the 920 Brookstown and Mayfair properties.
  • 4th and Green, a 100-unit development in the West End neighborhood, is expected to begin leasing to tenants 55 and older in the fall of 2024.

Greater Winston-Salem, Inc. works with nearly 900 businesses. President and CEO Mark Owens says while data is important — it’s the spirit of collaboration that is responsible for improvements.

“Our member companies, entrepreneurs, people that live, work, and learn here - those are the stories behind the numbers — and that’s why our collective community impact is so meaningful,” Owens said.

More from WStoday
The award-winning Elizabeth and Tab Williams Adult Day Center serves older adults living with Alzheimer’s disease or other forms of dementia.
Sponsored
Take a look at what projects get prioritized and funded by the city.
Whether you’re looking for something unique for your front porch or want to have some fun with your family, pumpkin patches and farms in the Winston-Salem area have plenty to offer.
Bookmark this guide for a curated list of events taking place each month that we’re most looking forward to.
These personalities have gained recognition for their exceptional work and creations.
See how thoroughly you’ve been reading our newsletter with a 10-quest quiz about Winston-Salem’s biggest headlines.
From the Carolina Thunderbirds to Salem City FC, we’re sharing all details of Winston-Salem’s sports teams.
The historic building turns into a restaurant.
Sponsored