Wake Forest School of Medicine and Atrium Health

The Partnership

To better understand future economic and social benefts of a full-scale Wake Forest School of Medicine in Charlotte, Atrium Health retained Tripp Umbach to conduct an economic impact assessment.

The announcement by Atrium Health and Wake Forest School of Medicine follows a national movement for health systems to become actively engaged in the development and expansion of medical schools. The strong partnership with Atrium Health will build upon public health science research already in place at Wake Forest University, where 80% of their total research is focused on areas that impact large-scale populations.

The Action

Tripp Umbach conducted an economic impact analysis to measure the economic and societal benefts of a new medical school and associated spin-off developments, based on a vision of the new Charlotte-based medical school provided by both Atrium Health and Wake Forest School of Medicine.

The Outcome

Tripp Umbach estimates that by 2040 Wake Forest School of Medicine–Charlotte and multiple related spin-off activities in healthcare and economic development could generate more than $2.5 billion in total economic impact and support more than 20,000 high-paying jobs. The Wake Forest School of Medicine–Charlotte and associated economic development could generate approximately $125 million in state and local taxes by 2040.

Tripp Umbach notes that Charlotte can move quickly from its current status to national leadership by mid-21st century because of the strength of Atrium Health, Wake Forest University, and the Charlotte business community.

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Tripp Umbach Project Director

Julie Chmiel

Vice President and Managing Senior Principal

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