North Carolina’s Research Triangle region saw $1.5 billion in capital investments and more than 6,600 new jobs announced in 2010, according to data compiled by an economic development group.
The Research Triangle Regional Partnership, or RTRP, is comprised of economic development agencies across the 13-county Research Triangle region radiating from Research Triangle Park. The group said that most of the new investments came specifically in life sciences and technology clusters.
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The RTRP has identified 12 clusters of innovation for economic growth. These 12 clusters include advanced medical care, biological agents and infectious diseases, nanoscale technologies, and pharmaceuticals. RTRP said that more than 85 percent of the $4.6 billion in capital investments and 70 percent of the 18,569 jobs announced in the last 27 months came from companies in these clusters. Among the life sciences investments cited by RTRP is medical device and technologies company BD‘s (NYSE:BDX) plans to invest $38 million for a distribution center in Johnston County, which will create 187 jobs.
The flip side to those new investments is an overall decline in employment. The Research Triangle region lost 2,827 jobs in 2010. But the region has posted a net employment gain of 32,817 jobs between 2005 and 2010, which makes it the only one of North Carolina’s seven economic development regions to gain jobs over that period. Those figures demonstrate the strength of the region’s economy, RTRP President and CEO Charles Hayes said in a statement.