Economic Development

The Development Division provides economic development assistance throughout Winston-Salem through various programs that aim to promote business vitality, job creation, and an increased tax base.  Ongoing projects are located in the downtown business district, Wake Forest Innovation Quarter, Brookwood [Airport] Business Park, Union Cross Business Park and other areas.  Below provides information on all Economic Development Programs.

Target Area Business Assistance Program

The Target Area Business Assistance program is designed to provide incentives to encourage businesses to locate within distressed areas of the city and to create job opportunities. Minimum qualifications for the program are that the funds are necessary for the company to move into or expand within the target area; the company creates or retains at least four (4) permanent jobs; and the company invests at least two dollars of private fund for every one dollar of city funds requested. The funds may be used for site, facility or structural improvements, facade or signage and the purchase of capital equipment. The resulting revitalization will in turn increase the tax base within these areas of the city. 

Medicap Pharmacy, Liberty StreetAll assistance must be approved by the City Council following a public hearing. The assistance may be given as a loan or grant, which is determined by the city on a case-by-case analysis. Maximum assistance for any project is $50,000 total. Assistance may be based upon job creation or tax base investment. 

To learn more about the program and approved areas, read the Target Area Assistance guidelines [pdf/210kb/2p].  Approved areas:

For more information, contact the Community and Business Development Office at (336) 747-7474.

Sister Cities Program  

Sister Cities Winston-Salem is affiliated with Sister Cities International an organization that advances peace and prosperity through cultural, educational, humanitarian, and economic development exchanges. It serves as a hub for institutional knowledge and best practices in the field of citizen diplomacy. Please visit the Sister Cities Pages.

Other Local Resources
Downtown Winston-Salem Partnership 
Winston Salem Business Inc. 
Winston-Salem Chamber of Commerce 

Available Property Sources
NRSA Commercial Listing Service
Downtown Winston-Salem Partnership
Winston-Salem Business, Inc.
City Of Winston-Salem Real Estate Department
Forsyth County Foreclosures/Sales Properties

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