Barely eight months after its launch, The Loading Dock Wake Forest has already become an important economic and community hub for the Town’s growing cadre of entrepreneurs. The 24,000-sq.-ft. space on South White Street once known as the Welsh Building now teems with mobile entrepreneurs, start-up companies, satellite workers, non-profits, and even a food truck.
“It’s exceeding our expectations,” says Phillip Freeman, who established The Loading Dock concept five years ago in part to house his own start-up, Murphy’s Naturals. His model pairs co-working space with community-building programs, educational offerings, special events, and more. The Loading Dock Wake Forest, one of four locations Freeman operates in Wake County, has leveraged a unique economic development partnership to boost energy, visibility, and enthusiasm.
“The variety of businesses, the events, the community participation – all of it is incredibly gratifying, and it is more than we could hope for,” Freeman says. The Wake Forest Business & Industry Partnership (WFBIP) and the Wake Forest Area Chamber of Commerce are among the tenants at the property. Freeman says the Town’s active involvement in The Loading Dock through WFBIP has been especially valuable. “The Town promotes us,” he says. “They never miss an opportunity to share ideas or lend support however they can.”
The site of a one-time paper company, The Loading Dock features 48 private offices ranging from 80- to 250-sq.-ft., abundant common work areas, event space, and a full-service kitchen. Larger and smaller offices are now all rented, but a few medium-sized spaces remain available, according to Velvet Nelson, The Loading Dock’s Director of Community Development. Base membership starts at just $150 a month and includes daily access to the space, high-speed WiFi, parking, and free coffee, beer, tea, and kombucha.
Members may also attend regular learning events throughout the month. “We’ve designed a curriculum in partnership with WFBIP that includes lunch-and-learns and an evening speaker series,” says Nelson, who previously work for Launch Chapel Hill, a similar concept co-sponsored by the Town of Chapel Hill and UNC-Chapel Hill. The Loading Dock Wake Forest’s first learning event, “How to Find the Right Mentor When Starting a Business,” drew 50 attendees. The topic was intentional. “We wanted to kick off with that because we’re adding a lot of mentoring opportunities and entrepreneurs-in-residence,” Nelson says. “As we’re bringing more people into the building, we’re doing it with a purpose.”
Additional educational topics are being set in consultation with members of The Loading Dock. Upcoming offerings will address general business themes like marketing and legal issues, but also softer skills such as how to make impactful presentations, leadership development, and opportunities in diversity, equity, and inclusion. All events are free and open to the public. “Anyone can attend,” Nelson says. Some offerings will take place during the business day while others will be held at night. “We want to make sure everyone can participate.”
The facility is also available for private events, and that calendar has been equally busy. “So many events had to be canceled in 2020 and 2021 due to the pandemic,” Nelson explains. With fewer COVID-related restrictions now in place, face-to-face gatherings are back with a vengeance. “People want to get together again,” she says. The same thirst for in-person interaction is driving the overall popularity of The Loading Dock concept among new members. “They’re tired of working out of make-shift home offices. They may never return to the office full-time again, but they need human interaction with other people who are working,” according to Nelson.
Complementing The Loading Dock’s solid numbers in the early going are member satisfaction surveys that speak to the facility’s value. “We do a pretty good job of getting people in here,” Nelson says. “But aside from just getting bodies in the door, we want to make sure they’re happy.” A recent survey indicated overwhelming satisfaction among The Loading Dock members.
WFBIP was among the organizations that approached Freeman about bringing The Loading Dock model to northern Wake County. “The Loading Dock is a community within our community, and it has added energy and excitement to the Town of Wake Forest just about every day since its grand opening last December,” says WFBIP President Jason Cannon. “It’s proven to be more than simply a resource for entrepreneurs and mobile professionals. It’s an economic and community development asset that the entire Town can experience and take pride in.”
Among the tools WFBIP deployed in supporting The Loading Dock Wake Forest’s launch last year was an economic impact study highlighting the facility’s benefits in terms of new jobs and economic output. Conducted by Creative Economic Development Consulting LLC at the behest of ElectriCities, the Town’s utility partner, the study found that once fully built out, The Loading Dock Wake Forest could house as many as 488 jobs. At least 150 of those are projected to be newly created jobs. The site’s overall economic impact, which includes direct, indirect, and induced spending, could add more than $181.5 million to Wake County’s gross domestic product (GDP) annually, with $105 million of that in Wake Forest alone. “This is the largest job creator in the history of Downtown Wake Forest,” says Cannon. “We simply couldn’t be more delighted with the rapid success, progress, and partnerships we have seen in mere months since opening.”
Learn more about The Loading Dock Wake Forest by visiting here.
