DISCOVER. CONNECT. ACHIEVE. IN THE RESEARCH TRIANGLE REGION
REGIONAL PROFILE REGIONAL POPULATION
Located in the heart of North Carolina, the Research Triangle Region gets its name from Research Triangle Park and three Tier 1 research universities—Duke University, North Carolina State University and the University of North Carolina Chapel Hill—located only minutes apart. The region is comprised of ten member counties and the Research Triangle Park. A diverse business ecosystem, talented workforce, and high quality lifestyle are major factors in the area's continued growth.
Regional Population Growth, 1980-2023 37 2,250,000 MEDIAN AGE 2,154,325 (EST. 2023)
2,000,000 1,912,729 2,014,196
1,750,000 FEMALE 51.5% MALE 48.5%
1,500,000
1,250,000 1,187,941 70% POPULATION GROWTH 67% 1,000,000 (2000–2018) POPULATION BETWEEN THE AGES OF 15 – 64
750,000 735,480
560,774 76 500,000 PEOPLE MOVE TO THE 1980 1990 2000 2010 2020 2030 REGION EVERY DAY
$174,830 $76,557 1,039,775 REGIONAL MEDIAN REGIONAL MEDIAN REGIONAL LABOR FORCE HOME VALUE HOUSEHOLD INCOME
Data Source: U.S. Census, Emsi CONNECTIVITY
Centrally located between New York and Miami, the Research Triangle Region is easily accessible by Raleigh-Durham International Airport, six regional airports, two ports, and multiple interstates that span from Florida to New York and North Carolina to California.
PERSON WARREN 4,882 GRANVILLE 1,414 10,240 5,496 1,490 4,985 4,186 17,355 8,883 Resident Outflow
Worker Inflow FRANKLIN Live/Work in County DURHAM 4,388 61,230 6,619 20,823 61,547 119,017
WAKE 298,956 CHATHAM 250,010 148,509 WILSON 5,124 14,934 8,997 20,551 19,097 15,706
JOHNSTON LEE 20,652 9,693 22,911 53,054 13,870 12,354
Data Source: US Census Bureau, Center for Economic Studies, LODES, 2015.
RDU
RANKED THE MOST CONNECTED MEDIUM-SIZED AIRPORT IN THE U.S.
MILLION PASSENGERS DAILY FLIGHTS 12.8 IN 2018 400+ Over 65 nonstop destinations INCREASE SINCE 2010 7 international destinations 42% 11 major airlines
RAIL ACCESS
CSX, Norfolk Southern, and Located in between New York and Miami North Carolina Railroad Company Interstates: I-40, I-95, I-85 Less than three hours to two deep water ports
3 EDUCATION
With 10 colleges and universities and 7 community colleges producing more than 42,000 annual graduates, the Research Triangle Region is well-equipped to meet the needs of its growing industries.
15,892 TOTAL STUDENTS #8 BEST UNIVERSITY IN THE NATION
Data Source: Duke University, U.S. News & World Report, May 2019
24.3 miles 10.5 miles
25.3 miles
30,011 TOTAL STUDENTS #5 BEST PUBLIC UNIVERSITY Data Source: University of North Carolina at Chapel Hill, U.S. News & World Report, May 2019 IN THE NATION COLLEGES, UNIVERSITIES AND COMMUNITY COLLEGES
176,000 TOTAL STUDENTS ENROLLED IN HIGHER EDUCATION
42,000 ANNUAL GRADUATES
C OMMUNITY COLLEGE
$2.72B R&D RESEARCH CONDUCTED AT TIER 1 UNIVERSITIES
35,479 TOTAL STUDENTS $6.5B 3,987 ANNUAL STATEWIDE DOCTORATE DEGREES ECONOMIC IMPACT AWARDED IN 2017
Data Source: NC State University, May 2019 Photo Credit: Becky Kirkland/ 5 NC State University TARGETED INDUSTRIES
ADVANCED MANUFACTURING $2.2 BILLION CONTRIBUTED TO GROSS REGIONAL PRODUCT
• 180 firms • 12,570 employees • $86,000 average salary • 15.2% 5-year growth rate*
AGTECH $1.2 BILLION CONTRIBUTED TO GROSS REGIONAL PRODUCT
• 302 companies • 7,140 employees • $134,000 average salary • 17.2% 5-year growth rate*
TECHNOLOGY $14.6 BILLION CONTRIBUTED TO GROSS REGIONAL PRODUCT
• 3,916 companies • 59,900 employees • $121,000 average salary • 17.6% 5-year growth rate*
*2012-2017. LIFE SCIENCES $9.8 BILLION CONTRIBUTED TO GROSS REGIONAL PRODUCT
• 569 companies • 24,150 employees • $142,000 average salary • 12% employment growth rate* • 4,400 annual life science graduates
CLEANTECH $4.6 BILLION CONTRIBUTION TO GROSS REGIONAL PRODUCT
• 1,859 companies • 26,950 employees • $113,000 average salary • 24.4% 5-year growth rate*
7 STARTUP ECOSYSTEM
Business, academia and government converge in the Research Triangle Region to create an innovative environment and hub for entrepreneurs. The region’s low cost of living combined with its co-working spaces, startup incubators, networking opportunities and local tech expertise fosters an innovative startup ecosystem.
HQ RALEIGH • Four locations in the region • Members raised more than $58 million dollars and generated more than $79 million in revenue in 2018 • 500 jobs created in 2018 • Over 300 companies and 750 members • 350 visitors per day; 10,000 per month • 103K sq. ft. of space including a new location on NCSU Centennial Campus
FRONTIER RTP • The only free co-working space in North Carolina • Flexible, affordable lab and office space for startups • Home to more than 100 growing companies • Provides educational resources, fitness classes and networking opportunities • Central to Raleigh, Durham and Chapel Hill
AMERICAN UNDERGROUND • 935+ companies connected (and counting…) • 31% of companies are female-led • 30% of companies are led by a person of color • 83% of AU companies have earned revenue • $158M total funding raised by AU companies since 2014 • 3,156+ new Triangle startup jobs Entrepreneurial Funding Raised
Number of Deals
North Carolina Deals 2016 2017 2018 Triangle Region Deals 77% OF DEALS MADE IN NC OCCURRED IN THE 159 140 159 TRIANGLE REGION of 188 of 224 of 207
Amount of Funding
$3.0B $2.75B $2.5B 89% OF NC'S TOTAL 2,393+ FUNDING OCCURRED $2.0B STARTUPS ESTABLISHED IN THE RESEARCH IN THE REGION $2.45B TRIANGLE REGION
$1.5B $1.13B
$1.0B $0.8B
$0.5B $0.6B $0.4B
0 $1.25B 2016 2017 2018 A RECORD-BREAKING FUNDING DEAL IN NC, EPIC GAMES (CARY) North Carolina Funding Triangle Region Funding
Data Source: Council for Entrepreneurial Development Innovators Report, 2016, 2017, 2018.
$27.00 1.2M 25+ AVERAGE CLASS A RENTAL RATE SQUARE FEET OF CO-WORKING VENTURE CAPITAL & ANGEL (39% BELOW NATIONAL AVERAGE) SPACE IN THE TRIANGLE INVESTING FIRMS IN REGION
9 REGIONAL COMPARISON
Cost of Living Index, 2018
149.0 Minneapolis, MN Seattle, WA Boston, MA 104.9 148.2 Chicago, IL 238.6
123.6 New York, NY 192.9 155.7 112.0 San Francisco, CA 90.6 Washington, DC Denver, CO St. Louis, MO 96.7 92.0
Raleigh-Durham, NC Nashville, TN
100 National Average 97.5
Austin, TX
<95 95-125 126-150 151+ Data Source: ACCRA COLI Survey, 2018 Annual Averages
Average Annual Hours Spent in Traffic Congestion, 2017
Raleigh-Durham, NC 14
Nashville, TN 33
Austin, TX 43
Boston, MA 60
Washington, DC 63
San Francisco, CA 79
New York, NY 91
0 10 20 30 40 50 60 70 80 90 100 Data Source: INRIX Congestion Index 2017 Educational Attainment
Population Over Age 25 with Bachelor's Degree or higher
60% 56.6
48.5 50% 47.0 46.9 42.8 40% 33.4 32.9 U.S. Average 30% 27.7
20%
10%
0% Raleigh-Durham Nashville Austin Boston Washington San Francisco New York NC TN TX MA DC CA NY
Data Source: U.S. Census Bureau. 2018. Accessed through American Factfinder2. S1501
Projected Population Growth, Cost of Doing Business Index, 2016-2046 2016
90% 87.4 105% 104.5 104.7
80%
70% 101.2 61.4 60% 100% 99.2 50% 40.5 40% 96.2 95.1 30% 27.7 95%
20% 19.4 11.0 10% 2.6 0% 90%
Raleigh-Durham, NC Washington, DC Raleigh-Durham, NC Boston, MA Nashville, TN San Francisco, CA Austin, TX San Francisco, CA Austin, TX New York, NY Washington, DC New York, NY Boston, MA Data Source: KPMG. 2016. "Competitive Alternatives: KPMG's Guide to International Business Locations Costs." Data Source: U.S. Conference of Mayors. 2017. "Metro Economics: Past and Future Employment" 11 YOUR DESTINATION FOR GROWTH
Person Granville Warren County County Airport County 158 Henderson WARRENTON ROXBORO Oxford Airport Warren Person OXFORD County County Airport 401
85 1 Franklin Durham County County 40 LOUISBURG
DUKE Triangle North DURHAM Executive Airport 64 Raleigh-Durham CHAPEL HILL RTP International Airport FUTURE UNC-CH 87 440 540 RALEIGH 264 64 NC STATE Wilson WILSON County PITTSBORO FUTURE 1 FUTURE Chatham Wake Johnston 540 587 County Raleigh County County Executive 95 Jetport Johnston Regional Lee Airport 795 County 40 SMITHFIELD 401 FUTURE SANFORD 42
70
New York
Washington D.C.
RESEARCH TRIANGLE REGION Charlotte
Atlanta
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