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Research Triangle Park News

Research Triangle Foundation Head to Lead Metro Orlando Economic Development Commission

2/22/2011

Press Release

(Research Triangle Park, NC) Rick Weddle has resigned from employment with the Research Triangle Foundation of North Carolina in order to accept a position at the Metro Orlando Economic Development Commission as President & Chief Executive Officer. Weddle served as the President & CEO of the Research Triangle Foundation for more than six years.

As Weddle moves to take on the Metro Orlando Economic Development Commission leadership role, Liz Rooks, Executive Vice President & Chief Operating Officer will take over as Interim President & CEO, until a new CEO is found. The Research Triangle Foundation of North Carolina is the developer of the 7,000 acre Research Triangle Park (RTP).

During Weddle’s leadership, RTP generated successful economic development projects with projected capital investment of over $800 million and continued to attract high-quality jobs with salaries in excess of the region’s average. The Foundation assisted in recruiting eighteen new firms and facilitating four expansions to the Park since 2004. Most recently, the Park began a process to update its original Master Plan. This endeavor will ensure that RTP remains a pre-eminent and globally competitive location for research and development (R&D) operations and a leading global center of innovation. Anticipated components of the RTP Master Plan project include land use, financial planning, transportation/transit, economic clusters, market demand, and other infrastructure and zoning recommendations. Equally important, the RTP Master Plan project will look for ways to transform the Park and ensure it continues to serve as a key driver for the region’s and State’s economy

“While we are disappointed that Rick will no longer be with the Foundation, we are excited for him as he takes on this new role. The Foundation’s Board of Directors is committed to continuing the momentum of transforming RTP that was begun under Rick’s tenure,” said David Ward, Jr., Chairman of the Foundation’s Board of Directors. “The environment in which RTP competes as a location for cutting edge R&D operations has changed dramatically. As we re-envision what RTP is and should become within the Master Plan process, we are working to ensure RTP remains globally recognized as a leading innovation center and a driver the Triangle region’s and State’s economic success and competitive position.”

 

About The Research Triangle Park

The Research Triangle Park is the leading and largest high technology research and science park in North America, covering 7,000 total acres.  Founded in 1959, The Research Triangle Park is developed and managed by the non-profit Research Triangle Foundation of North Carolina. The Foundation is responsible for building and maintaining the physical aspects of the Park; attracting and retaining Park companies; and enhancing the competitive position of the Park and the Triangle region.  To learn more about The Research Triangle Park, visit http://www.rtp.org.

 

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Contact: Research Triangle Foundation | 919.549.8181 / communications@rtp.org