There are many facts floating around about Research Triangle Park, but have you ever wondered how those facts come to be? Each year the Research Triangle Foundation of NC – the stewards of RTP – conduct a survey of all the companies within the Park. Compiling updated contact information for more than 200 companies is a huge part of the hurdle, and that happens before we even ask anyone to take the survey! (For the record, it’s actually pretty short in terms of surveys. Only takes about 5 minutes!)
Once the survey is closed, all the fun really begins. This is when our team starts to sift through the data to see what we can learn about everything from employment to sector growth. While one year’s worth of data doesn’t always show a new trend, when data is compared over time things become more telling. Since RTP’s inception in the 1960s, our main employers have been tech companies such as IBM and Cisco. Today, however, companies in that industry make up about 20% of the total in RTP. Over the last 10 years or so we’ve seen a pretty significant shift towards life science and biotechnology firms – particularly in the agbio sector. Today, 45% of the companies in RTP identify as being in the industry of life science and biotechnology.
Below you’ll find a round up of a few more of the most interesting facts gleaned from this year’s survey. We’ve also created the pretty awesome infographic above that sums it all up in a visually pleasing manner:
RTP Keeps It Local
About 50% of the companies located in RTP started and stayed in the Triangle.
Small Companies are the New Black
Out of the 220 companies located in RTP, about 130 (or 60%) employ less than 10 people! That’s a 6% increase over last year’s numbers in the same employment category.
To help spur this kind of entrepreneurial ecosystem, there are six different incubators or accelerators located throughout the Park that house around 115 companies.
We Employ a Small City
Each day nearly 47,000 employees come to work in RTP – that’s roughly the populations of Morrisville and Garner combined.
Be sure to check out the 2016 RTP Directory for more facts and figures about the companies that make up our park. And, if you’re into a bit of history, check out this post highlighting last year’s data.