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180-acre expansion planned for PTRP

BT Catalyst, Sept, 2002

University and city officials in Winston-Salem recently announced plans for a 180-acre expansion of downtown's Piedmont Triad Research Park.

The expansion will occur on newly purchased land surrounding the PTRP property and a 10-acre tract donated by R.J. Reynolds Tobacco Co. A new research campus for Wake Forest University will anchor the site.

Dr. Richard H. Dean, president and CEO of Wake Forest University Health Sciences (WFUHS), described the initiative as "a major commitment to transform our economy from one driven by manufacturing to one led by technology."

A key piece of the real estate acquisition was the donation of 10 acres by R.J. Reynolds Tobacco Co.

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"Today's announcement is a shining example of the progress this community can make when the private and public sectors collaborate and make things happen," said Andrew J. Schindler, R.J. Reynolds' chairman and CEO.

The park currently includes four multi-story buildings, more than 20 tenants, approximately 600 employees, and a total payroll approaching $25 million.

Once completed, the expanded research park will be more than 10 times the size of the current park. Likely tenants will include public and private research entities, technology startup companies and small businesses, laboratory operations, retail businesses and restaurants.

"We anticipate that as this park reaches maturity over the next 10 to 15 years, it can mean more than 10,000 new jobs, around $5 million in annual property tax revenues alone, and over $2.5 billion in total economic impact for the entire region," Dean said.

Also on hand at the event was U.S. Rep. Richard Burr (R-NC), who represents North Carolina's Fifth District. "Forsyth County and the surrounding northwest Piedmont region has suffered from a long-term decline in its manufacturing employment base," Burr said. "I look forward to further federal cooperation as we work toward continued and sustained economic growth for the Piedmont."

In related news, the Piedmont Triad Partnership, based in Greensboro, has contracted with BioEmerge Partners of Clemmons to assist with executing a Piedmont Triad biotechnology, pharmaceutical and medical manufacturing recruitment strategy.

The positioning strategy emphasizes biomanufacturing as the Piedmont Triad's key strength, resulting from the region's manufacturing tradition, its university and community college base, and its proximity to the Research Triangle.

For more information contact Don Kirkman of the partnership at 336-668-4556.

Technology Industry

180-acre expansion planned for PTRP

BT Catalyst, Sept, 2002

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