Research Triangle Region

research triangle region

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RESEARCH TRIANGLE PARK region Prior the economic boom of the 198090s, the area was known as RaleighDurham-Chapel Hill. Its primary reputation was agriculture, and of course, college basketball. The research institutions of the University of North Carolina at Chapel Hill, North Carolina State University, and Duke University are located in this region. Drawing a line from the center of each campus to each other prompted a nickname, the Research Triangle.

The Park, as it is known locally, is a 7,000acre development and home to more than 200 high-tech companies and enterprises, including everything from Fortune 100 multinational R&D operations to freshly

The Triangle has experienced explosive growth from mid-1980, tripling in population to now over two million residents. Countless awards, designations, distinctions and accolades have been

Eventually shortened to simply “The Triangle�, the name became cemented in the winners, sports championships and even to public consciousness in the late 1950s with the creation of Research Triangle Park (RTP). areas in America to live and work.

RTP quick facts – POPULATION 2,419,259 RTP Region

INCOME TAX RATE 5.8% North Carolina

SALES TAX RATE 6.75-7.5% RTP Region Including statewide sales tax of 4.75%

AUTOMOBILES TAGS AND REGISTRATION North Carolina Department of Transportation Division of Motor Vehicles

NC DOT 919-715-7000 ncdot.gov

DMV Customer Service Monday-Friday 8:00 a.m. to 5:00 p.m. EST

PETS North Carolina laws require every dog and cat four months of age and older to be vaccinated against rabies. These laws also apply to ferrets. nclaws.net

CLIMATE

60

Avgerage Annually Temperature

89

Avgerage High Temperature (July)

30 111 105 111 46.8’’

Average Annual Rainfall

4.1’’

GEOGRAPHY

9 PRIMARY COUNTIES 2016 Population Estimates, US Census Bureau

Chatham............................................... 72,243 Durham ..............................................306,212 Franklin ................................................ 64,705 Granville ............................................... 59,031 Harnett ...............................................130,881 Johnston .............................................191,450 Orange ...............................................141,796 Person .................................................. 39,284 Wake ................................................1,046,791 6 EDGE COUNTIES 2016 Population Estimates, US Census Bureau

Edgecombe .......................................... 53,318 Lee ........................................................ 59,616 Moore ................................................... 95,776 Nash...................................................... 94,005 Vance .................................................... 44,244 Warren ................................................. 19,907

EDUCATION

The Research Triangle Region is a state and national leader in education. The region has one of the highest concentrations of PHDs

Public School Systems .............................. 16 Public School Students .....................346,215 Charter Schools .......................................... 84 Charter School Students .................... 44,007 Private Schools..........................................164 Private School Students ..................... 51,022 Institutions of Higher Learning ................ 19

stats about

THE TRIANGLE UNEMPLOYMENT

MEDIAN HOME VALUE

3.8%-6% 4.5% 3.9%

$85,000-$400,000 RTP Region $157,100 North Carolina $199,200 USA

RTP Region North Carolina USA

MEDIAN HOUSEHOLD INCOME $21,5266-$95,283 RTP Region $48,256 North Carolina $55,322 USA

PROPERTY TAX RATE $9.91-$16.45 RTP Region $8.60 North Carolina Annual tax per $1,000 of assessed home value.

COST OF LIVING

ACCOLADES

The cost of living indices are based on a national average of 100. An index value below 100 means the city, town, or village is less costly than the national average.

RANKED #1 Best Place for Business & Careers, Forbes

Communities with an index value above 100 are more costly than the national average.

82-131% 95% 100%

RTP Region North Carolina USA

RANKED #1 Tech Region, Silicon Valley Leadership Group RANKED #1 Best City for Jobs, Forbes RANKED #1 Best Place to Live in the South, Money RANKED #1 Place for Commitment to Child Care, Working Mother RANKED #1 City for Women Entrepreneurs, AllBusiness.com RANKED #2 Best Public Education System, Expansion Management

THE RESEARCH TRIANGLE PARK THE RESEARCH TRIANGLE PARK (RTP) began in 1959 as an initiative by a committee of government, university, and

after their graduation was referred as the "brain drain". By establishing a place where educators, researchers, and businesses

business leaders as a model for research, innovation, and economic development.

Government and academic leaders were concerned by the departure of well-

come together as collaborative partners, the founders of the Park wanted to change the economic composition of the region and state, with the intent of increasing

educated individuals who acquired degrees North Carolina.

Today's Research Triangle Park (RTP) covers

from Fortune 100 multinational research

a 7,100-acre development that is home to

and development operations, to exciting

more than 200 companies employing over 50,000 full-time knowledge workers and

and important start-up operations. Many U.S. federal agencies have a presence,

an estimated 10,000 contract employees.

adding to the growth of the Park as a

It is one of the oldest and largest science parks in the world. RTP is a high-technology

bioresearch entrepreneurial businesses.

research and development center that serves as an economic engine for the region, and has simultaneously gained global prominence.

RTP is at the epicenter of the fast growing Raleigh-Durham region boasting a metropolitan area. Almost 3 million people live within a 60-mile radius of the Park.

The “Triangle”

RTP is the oldest continuously operating research park in the country, and has been a model for innovation, education, and economic development that has been applied around the world. It is home to as well as recipients of the U.S. Presidential Award and National Science

...a model for innovation, education, and economic development that has been

from which RTP was named is formed by the geographic location of the region’s three highly regarded educational, medical, and research universities—the University of North Carolina at Chapel Hill, Duke University, and North Carolina State University, also bolstered by the intellectual capacity of a numerous of other community colleges and higher education institutes.

Together, these institutes create knowledge assets and provide a steady supply of trained scientists, engineers, managers, and technicians to the region’s workforce.

A broad spectrum of companies contribute

Foundation Awards.

Scientists and

researchers working in RTP, including the invention of the Universal Product Code (UPC) and 3D some of the most profound discoveries of the 20th century.

PARK CENTER – In 2014 the leaders of RTP announced the plan for Park Center, a signature development that adds retail space, restaurants, parks and open places.

The new project looks to enhance the vision of creating an advanced live, work and enjoy environment in keeping with the original mission of the Research Park.