“Between 2023 and 2024, Wake Forest’s population soared from 55,000 residents to over 58,000, reinforcing its position as one of the fastest-growing municipalities in North Carolina. This growth trend is not new to Wake Forest, with a remarkable population increase of 307% from 2000 to 2024. With a population of 118,912 projected for 2040, the trajectory of growth in Wake Forest continues to solidify its status as a thriving community.” Source: Office of State Budget and Management, US Census and Wake Forest Planning Department
Jason Cannon, the director of the Wake Forest Business & Industry Partnership, Inc., publishes a quarterly online magazine, Discover, and this was in the March issue.
A graph shows the one-year growth from 54,274 to 58,007 as well as an estimated population of 68,315 four years from now in 2028 and possible 118,912 people in 2040.
Household incomes also have been increasing. “Median household incomes in the retail arena witnessed a steady rise, reaching impressive figures of $108,480 within a 5-minute radius of downtown Wake Forest and $113,878 within a 10-minute radius.
“This growth trajectory outpaced both the state and national averages, reflecting the community’s robust economic environment. Additionally, a median household income of $115,159 within Wake Forest’s municipal boundaries surpasses the state’s median of $67,481 by nearly a 70% margin, highlighting the significant economic advancement within the town.”
“Educational services, health care, and social assistance remained the top employment sectors, comprising 27.6% of the workforce, underscoring the community’s commitment to education and well-being.
“Meanwhile, professional, scientific, management, and administrative roles retained their prominence at nearly one-fifth of the labor pool (19.6%), contributing to the advanced skill sets present in Wake Forest. Retail trade (11.8%) and manufacturing (10.0%) sectors also played vital roles in the local economy, reflecting a balanced mix of industries driving growth and innovation.”
OK, so we are richer than the rest of the country and the state, but that accounts for a few of us. Most of us are in the middle and a lot of us can hardly afford to feed and house ourselves or our families.
There is a reason Tri-Area Ministry continues to need more money to feed more people — You can donate one time or monthly — and we have the traveling grocery also serves people twice each month who need help with food. No one at the town keeps an eye on how many town and area residents are getting what used to be called food stamps.
As an editor I appreciate the information about incomes — actually quite stunned by the median numbers — when the real pay checks for a great number of people have to be far greater.
The really bad news today is that The Body Works, which has been in a Wake Forest business park for 30-plus years is laying off all 60 employees because of a merger of companies in England. Some or many of those folks may be turning to Tri-Area; there was no compensation at all at the firing.
I do not expect Cannon to include information about layoffs and unemployment and the need for food; I quite like his boosterism which is needed to bring more diverse employment here and to support existing businesses. But there is another side of the picture of Wake Forest.
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