For companies looking to locate to a world-renowned, high-tech region but unable to pay the premium to be inside The Research Triangle Park, the Research Triangle Region in North Carolina offers a new solution.
In the northern part of the Research Triangle Region, where land is abundant and prices are low, four new business parks now form a neighboring network of parks to The Research Triangle Park. These four parks, collectively called Triangle North, offer access to the resources of The Research Triangle Park at a fraction of the cost.
Triangle North leaders have created a special combination of incentives that will provide a distinct advantage to companies that locate in any of the four parks, including:
- A cost-per-acre of land of $11,000 - $50,000, compared to a cost-per-acre of $125,000 - $210,000 within The Research Triangle Park
- Tier 1 state tax incentives, which include a $12,500 per job tax credit
- Customized workforce training, on and off site, through a top-ranked community college system
- R&D support from Duke University, NC State University and University of North Carolina – Chapel Hill
- Strong local network of manufacturers, including BASF, Biogen Idec, Cisco, GSK, Lenovo, Merck, Novzymes
In addition, each of the four parks boasts unique assets to fit the needs of specific industries. For example, Triangle North Granville has an ample water supply, making it ideal for biomanufacturing facilities. Triangle North Warren is one of the largest sites in the state and provides interstate access, which makes it a good fit for distribution or large manufacturing facilities. Triangle North Franklin is adjacent to an executive airport, and Triangle North Vance is across the interstate from Granville-Vance Community College.