Success of public-private partnership in Wake Forest’s strategic development by Jason Cannon & Gerard Hayes
E
arlier this year, the state of North Carolina
job opportunities. Part of the strategic vision behind
and communities across the nation were
this emphasis operates by providing a layer of
abuzz at the possibility of recruiting
strategically focused programming that brings
Amazon and Apple to build new headquarters in their
together entrepreneurs with communities of mentors
neck of the woods. This revolutionary moment in the
who have networks with regional, national, and global
history of economic development highlighted the
business partners and investors as a catalyst for
potency of public-private partnerships for strategic
growth.
development across the nation.
Development of this innovation infrastructure includes
The Town of Wake Forest has long understood one of
two major projects for the Town and private partners.
the strongest tools for steady and sustainable
These include the development of a new downtown
development are these “P3s” (public-private
business incubator led by a private coworking firm in
partnerships) driven by knowledge, technology,
collaboration with the WRC, and a new mixed-use
entrepreneurship and innovation.
nearly 200-acre technology park where people will live,
With progressive foresight into these strategic growth opportunities, the Town of Wake Forest provided initial funding to help launch the Wireless Research Center in
work and play in a “walkable” community with hightech office spaces, cultural amenities and a variety of retail, dining and living options.
2010 as a private, independent nonprofit organization
The vision includes a variety of strategic components
dedicated to innovation and collaboration as a shared
found in Wake Forest that will be leveraged to help
resource. This whole endeavor garnered public
grow businesses ranging from the communications
resources, including two grants from the N.C. Golden
engineering, testing and development found at the
Leaf Foundation of approximately $1.5 million.
WRC, to lawyers who help form businesses and file
Now independently functioning and committed to jumpstarting the growth of other entrepreneurs, the WRC specializes in communications engineering, and hosts world-class wireless testing equipment and a
patents, and marketers with experience in web design, writing and photography – all in a welcoming community environment that nurtures creativity, innovation and collaboration.
commercialization center with shared business
The strategic vision, a sort of vision 2.0, extends the
incubator office space.
Town’s original partnership with the WRC from 2010 to
In partnership with the Wireless Research Center, both in regard to shared vision and resource development, the Town’s economic development initiatives are now
build a collaborative ecosystem that will emphasize mentorship and the sharing of expertise and resources.
focused on providing innovation infrastructure to help
The Wireless Research Center was initially founded in
accelerate development of entrepreneurs and other
Wake Forest because of the appealing quality of life in