Winston-Salem: A City of Medical Breakthroughs

Have you been watching the national news lately about medical breakthroughs, world firsts, and lifesaving research? If so, you might have noticed that Winston-Salem is home to some incredible medical advances. Dr. Anthony Atala, director of the Wake Forest Institute for Regenerative Medicine (WFIRM), recently spoke at the highly respected TED conference (view here) and has been in the media spotlight recently on ABC News (view here), NPR, and more.

WFIRM’s recent regenerative medicine discovery involving urinary tubes in boys has the potential for wide-ranging impact on repairing damage to organs such as the heart. In the first such success in the world, a research team from the WFIRM built engineered urethras for five boys using their own cells.

Dr. Atala has also been in the news spotlight talking about an early-stage experiment that could someday solve the organ-donor problem: a 3D printer that uses living cells to output a transplantable kidney. In addition to saving lives, groundbreaking research such as this puts Winston-Salem in the spotlight, creates jobs, attracts talented people to our community, and improves the quality of life for us all. It doesn’t happen overnight. But the work of WFIRM and the Chamber’s Tech Council keep Winston-Salem moving forward.

Insights from Lunch with Leaders

City and County governments are going to be challenged to continue to provide services at the same levels citizens are accustomed to, given anticipated local tax revenue shortfalls and reductions from the State. That was the message from both Forsyth County Commission Chair Richard Linville and Winston-Salem City Council Member Denise D. Adams at the Chamber’s Lunch with Leaders session held February 22 with more than 60 business leaders attending.

Forsyth County faces a $4-5 million shortfall, but it will be later this spring before the County knows the impact of State cuts, and the county’s nearly $500 million in current debt requires $52 million in annual debt service. Property taxes are expected to grow by only ½ percent, and sales tax revenue is steady, Commissioner Linville said. His goals for this year are to maintain a steady tax situation and ensure as much efficiency in government operations as possible. He stressed that Forsyth County is in a strong financial situation.

Council Member Adams encourages citizens to tell their elected officials what they are willing to give up in these tight budget times. She said it will take 3-5 years for the economy to recover and government will have to curtail some services in the interim. She stressed her commitment to economic development and job creation as essential to growing the city, its quality of life, and offering assistance to small businesses. She stressed the need for citizen input into the city’s possible capital improvements programs in coming years.

Lunch with Leaders is a program designed to provide Chamber members with the opportunity for one-on-one insights and information from their local elected leaders. The Chamber’s Government Affairs initiatives focus on advocating for public policy that is in the best interests of business, encouraging more efficient and less costly government, and educating members on key business issues. 

02.24.11

Budgeting and Financial Planning – Help for Small Businesses in a Changing Economy 

Nick Daves, Director of the Center of Excellence in Financial Services at Winston-Salem State University and former bank president, provided lots of answers at the Chamber’s February Business Accelerator. His expert tips and warnings offered valuable help to small business managers trying to plan and budget during a changing economy. He explained the importance of cash on hand and advised on inventory control, receivables and risk management. He discussed options for financing temporary cash shortfalls, and where to find help.

02.17.11

BB&T Chairman & CEO Kelly King Offers Characteristics of High Achievers

In last week’s Insights email, we let you know how BB&T Chairman and CEO Kelly King saw the economy performing in 2011 during his February 1 presentation at the Chamber’s Economic Forecast Luncheon. But Mr. King also offered his perspective on the need for individuals to take responsibility for their future and discussed the characteristics of high achievers. As part of the Chamber’s ongoing effort to provide valuable information and insights to our members, here are the characteristics he identified: 

1.     Believe deeply in what you are trying to accomplish.

2.     Focus on the goal and commit the time, energy, and resources to make it happen.

3.     Train relentlessly to have the best skill sets.

4.     Enjoy the journey. Grab hold of today.

He stressed that economic improvement can come at the individual level which will have a positive effect at the aggregate level and advised the audience of nearly 750 that it should ask itself, “What are you going to do for yourself?”

His address, entitled, After the Crisis, also forecast that our economy is improving, but that ups and downs should be expected as we correct the economy’s overall structural imbalance. You can see his presentation on WSTV 13 – click here for the schedule.

02.10.11

BB&T Chairman and CEO Kelly King Provides Economic Forecast

Last week, the Chamber brought you economic insights from BB&T Chairman and CEO Kelly King at its 2011 Economic Forecast Luncheon, part of the Chamber’s ongoing effort to provide valuable information about economic and business trends to its members.

In front of a record crowd of nearly 750 people, Mr. King’s assessment was that, as we come out of an extremely difficult recession, we are regaining our footing and the economy is decidedly more positive. He affirmed that the general mood has improved over the past 3-4 months and that broad-based economic measures are more positive. Housing is heading in the right direction, he said, but will take time; retail is slowly improving; and manufacturing is looking more encouraging. Issues with unemployment and real estate will continue, he says, ups and downs should be expected, and everyone will have to cut costs and make hard decisions in order to correct the economy’s overall structural imbalance. Nonetheless, he anticipates solid growth over the next five years.

His address, entitled After the Crisis, also focused on what companies, governments, and individuals can do to provide our economy with a strong foundation for future growth. You can see Mr. King’s presentation on WSTV 13 – check here for the schedule.