The Winston Salem Chamber has compiled a whitepaper on Winston-Salem and Forsyth County’s economy which includes data on growth over time. The data is indexed against other mid-sized cities with comparable populations and economies, providing context on how Winston-Salem compares to like cities. Overviews on Winston-Salem’s economic development, education and workforce, and entrepreneurial ecosystem are included to provide additional information into the many ways that corporate, civic, and educational partners work together to achieve community goals.
Highlights from the report include:
- GDP has increased by 15.7% since 2012 to $28.3B in 2017.
- Average annual wages have increased by 14.2% since 2012 to $45,550 in Q12019.
- Annual employment growth rate of 2.4% is above average in North Carolina.
- Average wage of $22.47 per hour is the highest of nine comparable metro areas including Chattanooga, TN, Memphis, TN, Lexington, KY, and Birmingham, AL.
- Cost of living rate of 91.8% is average among comparable cities, meaning the average wage goes farther to cover expenses here than in other cities.
- Forsyth County hit a 10-year high in new construction in 2018 totaling more than $700M of investment.
Click here to access the whitepaper, our quarterly reports, and additional publications.