Executive Summary

The Research Triangle Regional Partnership is a public-private partnership formed to market a 13 county area for the economic benefit of its communities. The RTRP consists of the counties of: Chatham, Durham, Franklin, Granville, Harnett, Johnston, Lee, Moore, Orange, Person, Vance, Wake and Warren. A TRIANGLE WITH MORE THAN THREE SIDES Many features make the Research Triangle Region a unique one, but five key elements describe the area's success and are keys to the region's future. Community of Communities Robust Growth Diversified Economy Well-educated populous, Value educational institutions Thriving high-technology environment The Research Triangle Region is a community of communities. The area does not have a dominant central city. Rather, it is a collection of four mid-sized cities, several smaller towns, and numerous rural communities, each unique and distinctive. Together, they make up a "community of communities", that offers a small town sense of belonging with big city amenities. Growth has been - and will continue to be - robust. The Research Triangle Region has more than 1.5 million residents. A generation ago, in 1970, the area was home to more than 763,000 residents. A generation from now, in 2020, it is estimated that the area's population will be over 2 million. The Research Triangle Region has a strong, diversified, and growing economy. Anchored by world-class universities, medical centers, well-managed state and local government, and firms in leading technology fields, the area's economy has performed well by several economic indicators. The effects of population growth and higher incomes have rippled through the area's economy. It is projected that over the next 15 years, employment will increase by 67%, total earnings by 48%, personal income by 46%, and total retail sales by 41%. The Research Triangle Region's people are well-educated, and education is valued. More than one is nine metro area residents over age 25 holds a graduate, professional, or Ph.D. degree, and another one in five have a bachelor degree. One of the area's strengths is its system of technical and community colleges, part of a well-regarded state network that provides educational opportunities for all. The Research Triangle Region is a thriving, high-technology environment. Home to companies such as Ericsson, IBM, SAS, Nortel Networks and Cisco Systems among others, some are touting the area as the "Virtual Valley". This designation is no surprise as the Research Triangle Region has 46%of North Carolina's high-technology industry, and growing everyday. A MARKETING ORGANIZATION WITH A STRONG VISION FOR THE FUTURE The Research Triangle Regional Partnership has put in place a variety of initiatives to market the Region to the world. We concentrate our efforts on the following industries: Information Technology Biotechnology/Pharmaceuticals Auto Supply Manufacturing Plastic Manufacturing Warehouse & Distribution The Research Triangle Regional Partnership has put in place a global office located in Frankfurt Germany in order to market our region internationally to our targeted countries of Germany, Sweden and the United Kingdom. Key Challenges: Growth management issues, including suburban sprawl and spreading growth to rural areas Poor reputation of public schools (K-12) relative to competing regions in the U.S. Low availability of skilled labor Need to provide better jobs for lower income citizens, including welfare recipients Limited availability of venture capital Lack of affordable housing in many areas Sharp differences in economic situation among member counties Primary Assests: Success and reputation of Research Triangle Park Excellent local universities, community colleges and medical facilities Quality of life Access to interstate and other highways, as well as airports and railroads Thriving economy and diverse industrial base Strong work ethic of labor force Relatively low land and labor costs