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Created by local business leaders and esteemed members of Duke University, the University of North Carolina at Chapel Hill, and North Carolina State University, Research Triangle Park (RTP) has proven over the years to be the gold standard of what a research park should be.
RTP, which is strategically located off of Interstate 40 on approximately 7,000 acres, is home to nearly 160 diverse companies that employ more than 39,000 full-time, high-tech workers and approximately 10,00 contract employees, according to the Research Triangle Foundation of North Carolina’s Web site at www.rtp.org.
RTP companies are considered by many to be leaders in cutting-edge technology and research, so it’s no wonder why so many people from around the world are flocking to the area. Plus, the salaries aren’t too bad either. RTP employees have combined annual salaries of more than $2.7 billion, and the average salary in RTP is $56,000 annually, which is nearly 45 percent higher than the regional and national average, according to the Research Triangle Foundation.
Major Employers
What started in the 1950s as a strategic plan to create a structured model of a diverse research park that would combine business, academia, and industry has become the envy of many states and countries around the world. Leaders in these areas of the country want to capitalize on RTP’s strengths to potentially create viable and successful research parks of their own.
Even 50 years later, RTP is still a major draw for companies that offer a variety of specialties, including information technology, electronics, biotechnology, pharmaceuticals, and financial services. Plus, RTP’s reputation has attracted an extremely diverse and talented workforce from all around the world.
Just some of the large employers in RTP include IBM with 10,800 employees, GlaxoSmithKline with 6,400 workers, Cisco Systems with 3,400 personnel, Nortel Networks with 2,800 workers, RTI International with 2,600 employees, the U.S. Environmental Protection Agency with 1,500 personnel, and the National Institute of Environmental Health Sciences with 1,000 workers, according to the Research Triangle Foundation of North Carolina’s Web site at www.rtp.org.
RTP is also home to many nationally known companies, including Credit Suisse, DuPont Electric Technologies, Ericsson, Burroughs Wellcome Fund, Talecris Biotherapeutics, the University of North Carolina Center for Public Television, Integrated Laboratory Systems, and Bayer CropScience.
Big Business
The news is great for existing RTP companies because they have recently announced plans to expand or renovate their local business.
For instance, officials at RTI International (RTI), which was established in 1958 as the cornerstone of RTP, announced plans for its new 120,000-square-foot, four-story office building, which is slated for completion in 2008.
One of the most anticipated construction projects in RTP is United Therapeutics Corporation’s new 200,000-square-foot facility that’s currently under construction on T.W. Alexander Drive. The building, which is estimated to cost nearly $100 million, will house sales and marketing, clinical development, and manufacturing departments. United Therapeutics isn’t new to RTP; the company is leasing space here until construction on the new facility is complete. Company officials also said that they would be hiring approximately 250 more employees.
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