Fifteen companies consider Triangle North locations
Triangle North’s innovative economic development model continues to attract national attention while economic developers work with 15 companies that are actively considering locating in one of Triangle North’s four business parks in Franklin, Granville, Vance and Warren counties.
“The interest is there,” says Danny W. Wright, chairman of the Kerr-Tar Regional Economic Development Corp. (KTREDC), owner and developer of Triangle North. “As the economy strengthens, we are in a strong position to attract investment once companies are confident enough to make a location decision.”
Developers court 15 active prospects
Triangle North economic developers are working with 15 companies in a range of industries – biotechnology, pharmaceuticals, aviation, information technology and manufacturing – to convince them to locate their projects in a Triangle North park.
The companies represent nearly $348 million in capital investments and 2,630 jobs.
Among them is a large international pharmaceutical manufacturer that has said it will locate its plant in Granville County once it clears clinical trials and its products are approved for manufacturing.
That process has taken several years but is still under way. The new facility would cost $15 million-$20 million to build and would create 75-100 jobs.
National publication features Triangle North
Community Development Digest in June featured an article on Triangle North and remarks by KTREDC Chairman Wright.
In the Digest story, “Rural N.C. counties partner to grab development using revenue cost-sharing plan,” editor Tom Harman touts the collaborative regional effort as a model others should follow.
“The four centers offer another attraction – a $12,500 tax credit per employee per year for businesses locating in participating counties,” Harman writes. “State lawmakers are allowing the credit to be used in participating office parks in Franklin and Granville, two counties that normally would provide a $4,500 credit.”
Harman quotes Wright describing the seven-year effort to conceive and develop the parks.
“I think we’ll see this as a model around the country, especially as regionalism and more collaborative efforts are needed,” Wright told the Digest.
The story is the first of several expected to result from a major media push this spring that was designed to focus national attention on what the parks can offer growing businesses.
Direct marketing yields results
Developers called on 100 medical device companies to introduce them to Triangle North’s advantages for their industry. One fifth of those companies requested more information or future contacts.
Another industry call program launched in March yielded similar results, with interest expressed by a quarter of 130 companies in a range of sectors: aviation, advanced textiles, military and homeland security contractors, and logistics and distribution.
Recruitment trip a success
In June, a Triangle North team visited 13 companies located in Boston, New York and Connecticut that plan to relocate or expand. Six active prospects resulted from that trip.
Members of the recruiting team were: Debbie Lilly, Research Triangle Regional Partnership; Jay Tilley, Granville County Economic Development; and Ronnie Goswick, Franklin County Economic Development Commission.
Developers are now identifying promising West Coast companies to meet with in anticipation of a November recruiting trip.
Speakers Bureau updates community groups
Triangle North representatives continue speaking widely to community groups to update them on progress in attracting new investment and to invite their help in identifying leads.
Examples of recent Speakers Bureau engagements are: Granville County Commissioners retreat, Lake Gaston Chamber of Commerce luncheon, Leadership Franklin, Leadership North Carolina, Louisburg Lions Club, Oxford Rotary, South Granville Rotary and Warrenton Rotary.
Kerr-Tar Council of Governments Executive Director Timmy Baynes in June presented a session on Triangle North’s approach to business development at the N.C. Sustainable Communities Summit. sponsored by the N.C. Association of Community Development Corporations.
Community groups interesting in learning more about Triangle North's marketing strategy and results are encouraged to book a speaker. For more information, contact Triangle North at (252) 436-6098 or email@example.com.
Room to grow in one of the world's hottest markets
Triangle North offers tax-advantaged sites of every size and shape to growing companies seeking affordable space in the world-renowned Research Triangle Region of North Carolina.