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Research Triangle Park (RTP)
In the 1950’s, Triangle area leaders introduced a solution to the then-current problem of what they called the “brain drain,” or the exportation of college graduates from area universities to employment outside of North Carolina. The idea was to create a research park to be located between the three prominent universities of the Triangle – Duke, the University of North Carolina, and NC State. Though growth was slow at first, by 1969, 21 companies had located to the RTP area. And by 2000, 87 more had moved here. Today, over 130 companies make their home in Research Triangle Park, representing fields such as pharmaceuticals, information technology, microelectronics, environmental science and more.
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Currently the largest employers in the Park include:
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IBM |
13,300 employees |
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GlaxoSmithKline |
5,000 |
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Nortel Networks |
3,000 |
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Cisco Systems |
2,500 |
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RTI International |
1,700 |
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US EPA |
1,200 |
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National Institute Of Environmental
Health Sciences |
1,000 |
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Sony Ericsson |
750 |
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Bayer CropScience |
500 |
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Diosynth Biotechnology |
500 |
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Of the 130+ organizations located in RTP, 100 are related to research and development. Multinational corporations employ approximately half of all RTP employees. Why is business here booming? Tax incentives and credits, SBA loans, state technology-based equity funds and job development grants all serve as motivating factors for corporations to relocate here. Currently, the Park encompasses 7,000 acres covering approximately 16 square miles, and only 1100 acres are left for development purposes. When this acreage is filled, the Park will be filled -- there are no further plans to expand the area.
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