Charlotte’s first innovation district has already generated over $220 million in economic impact as it prepares to begin its next phase of construction
One year after opening The Pearl, Charlotte’s first innovation district, is already delivering meaningful economic, workforce and community impact.
Developed through a public-private partnership between Atrium Health and Wexford Science & Technology, LLC, The Pearl brings together education, research, clinical innovation and industry in a single, connected campus designed to expand opportunity and accelerate economic growth.
In its first year, The Pearl is already generating measurable economic return for Charlotte and the broader region:
- $224 million in economic impact, driven by jobs, visitors and student activity.
- $9.8 million in tax revenue benefiting Mecklenburg County, the city of Charlotte and the state of North Carolina.
- 2,270 jobs generated, including across the local economy, as well as 560 onsite roles across healthcare, research & development, education and hospitality. Total impact reflects both direct hiring and strong multiplier effect.
“The Pearl has become a place where innovators come to build the future of healthcare — from leading global companies and fast-growing startups to researchers and medical students working on the next breakthrough or cure,” said Eugene A. Woods, CEO of Advocate Health. “But just as importantly, it’s a place where dreams are born — where a young person can walk through the doors, see what’s possible and begin to envision themselves as the scientists, entrepreneurs and leaders who will shape the future of medicine.”
The Pearl’s first phase comprises 700,000 square feet, which was 85% leased within six months of opening. The Pearl is a multi-faceted campus home to cutting-edge research, academics, corporate and entrepreneurial innovation, clinical translation, and community gathering.
“The Pearl is not only advancing Charlotte’s position as a leader in life sciences and medical innovation — it is creating opportunity for our community, attracting talent and investment, and helping build pathways to high-quality careers for the next generation,” said longtime former Charlotte Mayor Vi Lyles.“Its impact reaches far beyond the district itself, strengthening our economy and reinforcing Charlotte’s reputation as a city where innovation and community go hand in hand.”
At full buildout, The Pearl’s 38-acre plan ultimately calls for residences, a hotel, office/innovation space, retail and public space. The campus is expected to have an annual economic impact of $1.2 billion and generate $24 million in local and state taxes every year.
“Only one year after opening, The Pearl has become a national model for how innovation districts can create the connections among talent, research, industry, and community that drive innovation and economic growth,” said Thomas Osha, Executive Vice President, Wexford Science & Technology. “While we are proud of what has been accomplished in the first year, we are even more excited by the opportunities ahead as The Pearl continues to grow its impact, attract new partners and help shape Charlotte’s future as a center of innovation.”
Underscoring its appeal as a community gathering place, over the last year, The Pearl hosted 330 events, between trainings and educational opportunities, site visits and community events, drawing upwards of 18,000 visitors— both daytime and overnight travelers who patronized local restaurants, bars, hotels and retailers.
Within The Pearl
Designed as a fully integrated innovation district, The Pearl brings together leading institutions, companies and educational programs that advance healthcare, research and workforce development in one place.
Education and Workforce Development
- Wake Forest University School of Medicine — Charlotte’s first medical school with an inaugural class of 49 students.
- Wake Forest University School of Professional Studies and School of Business — The university expanded its Charlotte presence beyond medicine in May 2026.
- Carolinas College of Health Sciences — Offers certificates through bachelor’s degrees and this past year educated as many as 815 students, pursuing careers in nursing, radiology technology, surgical technology and advanced simulation support.
- A K-12 STEAM Lab — Educated 2,900 students either onsite or through community-based learning.
Research and Innovation
- IRCAD North America — A globally renowned surgical training institute that has hosted 130 trainings and events with researchers, doctors and industry leaders from at least 17 different countries— a total of more than 5,000 individuals traveling and staying in Charlotte.
- Connect Labs by Wexford — Flexible wet and dry lab space supporting 16 companies with roughly 78 employees.
- Siemens Healthineers — A technology company that develops healthcare equipment software and services.
- Additional office and laboratory space for private companies, enabling organizations across healthcare, life sciences and technology to locate within the district and benefit from proximity to research, talent and clinical partners.
For further information and frequent updates about The Pearl’s progress, please visit the Progress at The Pearl web page.
