Research Triangle Park: A Hub of Telecommunications Revolution

Strategic Insights -

As the world's telephone networks undergo significant changes, integrating voice, data, and video on a single, high-speed network, the Research Triangle Park in North Carolina finds itself at the forefront of this technological revolution. Three global giants, Cisco Systems, Lucent Technologies, and Northern Telecom, are investing heavily in the region, constructing six buildings and planning for several thousand additional workers. This growth is fueled by the explosion in telecommunications technology, with companies seeking experienced personnel rather than hiring college graduates.

Key Takeaways:

  • The Research Triangle Park is experiencing unprecedented growth, with Cisco, Lucent, and Nortel constructing six buildings and planning for thousands of additional workers.
  • The growth in telecommunications technology has led to a shortage of experienced personnel, prompting companies to invest in the region to tap into the available talent pool.
  • The investments by Cisco, Lucent, and Nortel have put the Raleigh-Durham-Chapel Hill area at the leading edge of a telecommunications revolution fueled by data networking and the Internet.
  • The region's growth has led to an influx of Ph.D.s from top universities, making it an importer rather than an exporter of skilled labor.
  • The Research Triangle Park is home to major companies such as Cisco, IBM, and Lucent, with over 14,000 employees working in the region.
  • The park's first anchor tenant, IBM, has over 2,000 employees in the Networking Hardware Division and is expanding its operations.
  • Lucent is building a 123,000-square-foot software research and development facility in Cary and plans to relocate 200 employees to the center.
  • Nortel is adding three 100,000-square-foot buildings to its Research Triangle Park campus and plans to hire up to 500 employees at a research center at N.C. State University's Centennial Campus.

Statistics:

  • Cisco's workforce in the Research Triangle Park has grown from 56 in 1994 to 960 today, with a forecast of reaching 4,000 by 2002.
  • The Research Triangle Park is home to over 14,000 employees from major companies such as Cisco, IBM, and Lucent.
  • Lucent is investing hundreds of millions of dollars in the Research Triangle region, with plans to expand its operations and relocate employees.
  • The stakes are huge, with the global market in voice and data networking sales estimated at $450 billion a year.
  • The Research Triangle Foundation is organizing a 40th anniversary celebration and symposium to tout the park's role in shaping North Carolina's economy.

Sources:

  • Chris Burritt, article cited ( exact format and details )
  • Patrick Howie, high-tech economist (exact quote and details)
  • Jim Roberson, president of the Research Triangle Foundation (exact quote and details)
  • William Glynn, director of Southeast Interactive Technology Funds (exact quote and details)