The corporate migration to the Research Triangle keeps going strong

The corporate migration to the Research Triangle keeps going strong! Companies like Apple and Google announced they would be establishing offices in the Raleigh-Durham-Chapel Hill region, joining other tech giants here, including Cisco, Citrix, Lenovo, and IBM. Smart Wires recently joined the list of tech companies relocating the Research Triangle. Amgen also announced its plans to build a multi-product drug manufacturing facility in the area, which is also a hub for life sciences companies. And in September, Fidelity Investments reported it is adding 1,500 new technology and customer service jobs to its Research Triangle Park location.

What is the allure of the Raleigh-Durham-Chapel Hill area? 

Start with the quality of higher education here that attracts up-and-coming professionals. Duke University, the University of North Carolina at Chapel Hill, and North Carolina State University are among 12 nationally ranked colleges and universities here. 

Next, factor in the extensive array of employers in the Research Triangle. With so many companies centered in technology and life sciences, prospective employers can count on an existing labor pool of high-caliber candidates. 

Just look at what we’ve gained in employers moving to the Research Triangle so far this year:

March 2021: Google engineering hub, 1,000 jobs

Google announced that it will build a cloud computing engineering hub in Durham. The facility will be located in a 6-block downtown area known as the “Durham Innovation District”. Google expects to bring 1,000 new jobs. 

“The Triangle region has some of the best and brightest engineers in the world,” said Marian Croak, vice president of engineering for Google. 

April 2021: Apple’s first East Coast campus, 20,000 jobs

A month after Google’s announcement, Apple confirmed that the company’s first East Coast campus would be located in Raleigh-Durham’s Research Triangle Park. The expansion reflects a $430 billion investment and 20,000 new jobs to come in the next 5 years. Apple also plans to invest $100 million in community and education initiatives and $110 million in supporting infrastructure spending and growth throughout North Carolina.

May 2021: Amazon distribution center, 500 jobs

In May 2021, Amazon joined the Research Triangle corporate migration. The global retailer will build a 620,000-square-foot distribution center in Smithfield, NC, representing a $100 million investment and adding about 500 warehouse jobs.

August 2021: Smart Wires headquarters, 250 jobs

Smart Wires CEO Peter Wells says his decision to move the company’s headquarters from San Francisco to Durham, NC, was influenced by the available tech talent and affordable cost of living. Getting prospective employees to choose the Bay Area was a challenge because of the high cost of living there. He added that his company often looks for electrical engineers who have achieved the doctorate level of education.

“There are other (power) companies here, like Hitachi ABB,” Wells explained. “NC State works very well in this area. Duke has a really good electrical engineering program. There are other colleges around, and Georgia Tech’s not that far away. I mean there’s a lot of stuff in the area.”

Wells had previously lived and worked in Wilmington, NC, from 2003 to 2010, and says he often visited Raleigh. He is impressed by the positive additions to the area, with expanded cultural offerings like nightlife and entertainment.

August 2021: Amgen biopharma manufacturing plant, 355 jobs

In early August, Amgen joined the corporate migration to North Carolina. They chose Holly Springs, a Raleigh suburb of just 35,000 residents, to build a drug substance manufacturing plant. Amgen decided to put its $550 million investment in this region rather than Houston, its other option. In a town where the average income is $63,966, Amgen will certainly impact the economics with its forecasted average annual salary of $119,510.

Amgen also joins other life sciences corporate giants in the Research Triangle, including Biogen, Glaxo Smith Kline (GSK), Merck, and Pfizer.

September 2021: Fidelity Investments campus expansion, 1,538 jobs

The Boston-based financial firm already has offices at Research Triangle Park and employs 3,600 people there. Fidelity Investments is expanding the campus to add 1,538 new jobs focused on technology and customer service, in addition to 750 jobs added earlier in 2021.

Fidelity has seen a rise in investment interest during the pandemic, adding 8.6 million customers since the beginning of 2020. The new jobs at the RTP campus are being created to support the online service needs. The customer service positions are mostly entry-level while the Fidelity tech jobs will be focused on improving the architecture and platform for a better user experience.

It’s no surprise that Forbes ranked North Carolina as #1 on its list of Best States for Business for three years in a row, a rare feat.

A new start with new homes

New employers create new jobs. Whether these workers are relocating to the area or ready to move up to a new home, Baker Residential is preparing for the Research Triangle’s growth. We’re preparing to open a variety of communities of new homes and townhomes in Raleigh, Durham, and Apex. Our new homes offer a variety of styles and sizes, to fit a range of lifestyles— from “just getting started”, all the way to emptying the nest. Take a look at the high quality craftsmanship, attention to details, energy efficiency, and higher standard for standard features that showcase “The Baker Difference”. Sign up for the VIP List so you’re certain to get advanced notices about our new homes for sale in Raleigh and the Research Triangle and lot availability.