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Fifty Years of SuccessThe Research Triangle Park was founded in January 1959 by a committee of government, university, and business leaders as a model for research, innovation, and economic development. By establishing a place where educators, researchers, and businesses come together as collaborative partners, the founders of the Park hoped to change the economic composition of the region and state, thereby increasing the opportunities for the citizens of North Carolina. The vision was to provide a ready physical infrastructure that would attract research oriented companies. The advantage of locating in RTP would be that companies could employ the highly-educated local work force and be proximate to the research being conducted by the state’s research universities.
RTP GrowthSince it was established, the Park has witnessed a steady and stable increase in the number of companies and employees. Currently, there are more than 170 research and development related organizations in RTP. The original parcel of land that made up RTP in 1959 consisted of 4,400 acres. Through the years, the Foundation acquired more land, surpassing 5,500 acres by 1979 and totaling nearly 7,000 acres presently. In the same period, the Park’s developed space has increased from only 200,000 square feet in 1960 to more than 22.5 million square feet in 2009. More than 42,000 full-time equivalent employees work in RTP with an estimated 10,000 contract workers. These employees have combined annual salaries of over $2.7 billion. The average salary in the Park is $56,000 annually, nearly 45 percent higher than the regional and national average.
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