Recently, Winston-Salem created a number of new community-private partnerships. Such partnerships are helping transform the community from a traditional manufacturing center to a knowledge-based economy. The primary initiative in this regard has been the creation of the Millennium Fund. This $46.5 million fund was created by contributions from local corporations, foundations, and individuals and provides support for targeted projects that further the revitalization of the economy.

A number of additional projects are being carried out utilizing community-private partnerships. These include:

Piedmont Triad Research Park
The $200-million project is being developed with funds from Wake Forest University Baptist Medical Center, the City, the Millennium Fund, local corporations, the Federal Government, and the State Government. The project is estimated to create 30,000 new jobs and have an economic impact of more than $6 billion.

Idealliance
Idealliance, Inc. is an innovation community of academic, business, and government partners focused on developing businesses in the biotechnology, pharmaceuticals, nutrition, medical devices, imaging, and information technologies. It is responsible for the development and oversight of a ten-acre Piedmont Triad Research Park in Winston-Salem, North Carolina.

The Winston-Salem Foundation
Governed by a volunteer board, the foundation is a pool of hundreds of charitable funds entrusted for long-term philanthropic good. These funds are invested and income is used to award grants, including scholarships, to benefit the community as the donors intended. Colonel Francis Fries founded the foundation in 1919 with a $1,000 endowment. Now, with custodial assets of over $210 million, it is ranked in the top 40 of the 600 community foundations in the United States. The Winston-Salem Foundation serves as a leader, resource, and catalyst by investing in the community to make philanthropy and its benefits available to all.