Contact:
Cyndy Falgout
(919) 401-3548
falgout@cyndyfalgout.com

FOR IMMEDIATE RELEASE:
March 8, 2004

Regional task force launches five-year plan to create
100,000 jobs in the Research Triangle Region

Research Triangle Region, N.C. - Research Triangle Region, N.C. - Regional business and academic leaders today launched a five-year, $5 million strategy to generate 100,000 new jobs and increase employment in all 13 counties of the Research Triangle Region.

Dozens of organizations in the region have agreed to collaborate on the strategy, called "Staying on Top: Winning the Job Wars of the Future." The strategy outlines 30 action items to nurture the growth of industry "clusters," interconnected business and support organizations. The goal is to spark business investment in high-growth industries that will create high-paying jobs for decades to come.

"In the 1950s, a group of innovative leaders conceived the idea of the Research Triangle Park, an idea that changed the economic course of the region," said former Gov. James B. Hunt Jr., who chaired the 37-member CEO-level task force that developed the action plan.

"Today, we face intense global competition for new jobs and investment," Hunt said. "There will be regions of the world that win - where standards of living will rise and jobs will be plentiful - and regions that lose. We intend to win. We believe we can improve our chance for economic success through collaboration, education, innovation and action."

The Staying on Top initiative grew from the findings of a 2001 study by Harvard University economist Dr. Michael Porter, who conducted a comprehensive analysis of the Research Triangle Region. In his report, Clusters of Innovation, Porter concluded that the region required a 21st-century economic vision to remain competitive. The task force of business and higher education leaders used Porter's study and new research to create a vision and action plan for the region.

The action plan calls for institutional partners to pursue strategies in these five areas:
  • Promote the growth of industry clusters where the region has a competitive advantage.
  • Use a balanced approach of targeted recruitment, global branding, business creation and existing business retention.
  • Integrate higher education into economic development efforts.
  • Develop creative, inclusive approaches to rural prosperity.
  • Create agile leadership networks to respond to market challenges, changes and opportunities.

"This plan recognizes the key role that our research universities play in economic development," said University of North Carolina President Molly C. Broad, who serves on the executive committee of the national Council on Competitiveness, which commissioned the Porter study. "The research and development capacity and the collaboration among our universities, corporations and government labs make the Research Triangle Region a leader in technologies that will shape our world. We intend to capitalize on these important assets to ensure our economic future."

Staying on Top will focus on developing industry clusters around eight technology areas, chosen because the region is a world leader in their research and development and for their potential to create significant numbers of new jobs. The eight areas are:
  • Pharmaceuticals
  • Biological agents and infectious diseases
  • Agricultural biotechnology
  • Pervasive computing
  • Advanced medical care
  • Analytical instrumentation
  • Nanoscale technologies
  • Informatics

In addition, the strategy will focus on expanding the region's vehicle component parts and logistics and distribution clusters because of their continued value in creating jobs for more rural parts of the region.

"This initiative represents the unprecedented alignment and collaboration of business, academic and economic development players across our region," said Charles A. Hayes, president and CEO of Research Triangle Regional Partnership (RTRP), which facilitated the work of the task force and will lead its implementation. "We have aligned organizational agendas, made political boundaries transparent and focused on improving our future. We invite all to join as partners, to help improve the quality of life and standard of living for all citizens of the Research Triangle Region."

The complete report may be found on the initiative Web site, www.researchtriangleregion.org. For more information, contact RTRP Executive Vice President Ted Abernathy at (919) 840-7372 ext. 14 or tabernathy@researchtriangle.org.

RTRP is a public/private partnership that promotes economic development for the 13-county region of North Carolina comprising Chatham, Durham, Franklin, Granville, Harnett, Johnston, Lee, Moore, Orange, Person, Vance, Wake and Warren counties.

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Regional Contacts:
Charles Hayes, (919) 840-7372
James B. Hunt Jr., (919) 755-8165
Molly Broad, (919) 962-1000

County Contacts:


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Research Triangle Regional Partnership
PO Box 80756 - RDU Airport, NC 27623 - Voice (919) 840-7372 - Fax (919) 840-0142