Research Triangle Park (RTP) & the Triangle Biotech Cluster

[Eastwestrob]

Fidelity coming to DT would be a wet dream. That would take a rather large tower to handle 5000 employees.

[RALBOI]

I feel what alot of you are saying, but Downtown Raleigh city and business leaders still should give it there best shot, at trying to land this company, just the exposure of a huge company like that looking at downtown Raleigh, helps put downtown on other companies radar for possible expansion,what's the problem with trying?

[Subway Scoundrel]

Fidelity coming to DT would be a wet dream. That would take a rather large tower to handle 5000 employees.

I agree.....

My guess since this is "ops"based work that there will be a lot of server farms, mainframes, trunking, large storage directors/units and networks with a routing system that would blow the average IT geeks mind.

So they want cheap, wide and flat space with raized floors with tons of AC to put this in which directly rules out DT. Banks like workers DT so they can talk and meet and work together. IT equipment does not need that and the expense of having to rent space for both machine and man makes DT improbable.

[RALBOI]

Fidelity coming to DT would be a wet dream. That would take a rather large tower to handle 5000 employees.

Build two connecting Towers,Downtown Raleigh is full of empty lots,and it's not a wet dream,the city has tons of land Downtown, the wet dream is the lack of vision that's holding this city back, the problem is people constanly talk about what Raleigh can't do around here, it's funny when am on the Charlotte Forum they talk about what they can do or how can they can get it done,yes getting Fidelity downtown is along shot but all am saying is what's wrong with trying.And Eastwestrob am not targeting you so please don't take offense.

[DanRNC]

Looks like this announcement will be made tomorrow. The site will be in RTP.

[yoga]

At least we don't have defective bolts in our thousand year long underground highway system project....

Edited August 2, 2006 by yoga

[Cary NC]

Here is the link.

http://www.newsobserver.com/104/story/466785.html

The news conference is today, Wednesday 11am EST.

BIG NEWS for the area. MORe traffic. Horray!!! Horray!!!! But seriously, it could only be good for the area's publicity. I am sure the Boston Globe will have something also on it.

Edited August 2, 2006 by Cary NC

[Tayfromcarolina]

Nice. Real Nice. More Exposure for the area. I love it!!

[bullcity76]

Looks like this announcement will be made tomorrow. The site will be in RTP.

I think a headquarters complex at Triangle Metro Center would be next to a Downtown location on my list. They could rent space from Nortel until the buildings are complete. I'm sure Craig Davis is making his pitch.

I really think it will go into another secluded suburban campus where no one really knows it exists. When visiting friends say that they want to see the Park, I think to myself "There's really nothing to see..."

[dmccall]

I think a headquarters complex at Triangle Metro Center would be next to a Downtown location on my list.

Is this one of the two planned RTP rail stops? That would be great. The biggest challenge to the current rail plan is the lack of density around the RTP sites.

[DanRNC]

I believe it will sit adjacent to Cisco's campus.

[Subway Scoundrel]

Is this one of the two planned RTP rail stops? That would be great. The biggest challenge to the current rail plan is the lack of density around the RTP sites.

With 2 stops in RTP, it would have to be the Metro TTA site near Nortel that Craig Davis is pushing. The 2nd site was given to TTA by IBM (11K employees) and sits on road frontage on Miami Blvd that has IBM on both sides of the road including the main site. The site I think I saw earlier was not really in RTP, but on the edge. I could be wrong. I thought they were looking near the Lenovo site which would make a good shuttlebus full of workers from the TTA Metro center to those sites.

I think this is good as 2K extra jobs adds about $116M per year into the salary market alone. Does not cover other expenses by Fidelity. (contruction/landscaping/services/taxes/services/etc.)

116M buys a lot of beer and wine to be spent in the DT pubs and restaurants !!!!

This is a a lot of moola added into the local economy.

Edited August 2, 2006 by Subway Scoundrel

[bullcity76]

With 2 stops in RTP, it would have to be the Metro TTA site near Nortel that Craig Davis is pushing. The 2nd site was given to TTA by IBM (11K employees) and sits on road frontage on Miami Blvd that has IBM on both sides of the road including the main site. The site I think I saw earlier was not really in RTP, but on the edge. I could be wrong. I thought they were looking near the Lenovo site which would make a good shuttlebus full of workers from the TTA Metro center to those sites.

I think this is good as 2K extra jobs adds about $116M per year into the salary market alone. Does not cover other expenses by Fidelity. (contruction/landscaping/services/taxes/services/etc.)

116M buys a lot of beer and wine to be spent in the DT pubs and restaurants !!!!

This is a a lot of moola added into the local economy.

That's a potential $350M in home purchases...to piggyback on your "estimates".

I think I do remember chatter about Fidelity taking some of the vacant Cisco space.

[Cary NC]

Great things for the economy at the cost of only $62 Million in incentives.

I think the anti incentive people don't realize that these people have to pay sales tax when they make purchases, property tax, buy houses, and income tax. Yes the company gets a tax break through upfront incentives but the sheer number of employees make up for it.

Shoot we had a $2 billion surplus this year. With all jobs created the income tax revenue shot thru the roof

[DanRNC]

I think I do remember chatter about Fidelity taking some of the vacant Cisco space.

They will be building their own campus on about 268 acres. They will lease some space during construction-don't know if thats Cisco or not.

[Subway Scoundrel]

That's a potential $350M in home purchases...to piggyback on your "estimates".

I think I do remember chatter about Fidelity taking some of the vacant Cisco space.

Could be. I also knew Net Apps was moving into some of the old Cisco space. They are there now.

[Subway Scoundrel]

Great things for the economy at the cost of only $62 Million in incentives.

I think the anti incentive people don't realize that these people have to pay sales tax when they make purchases, property tax, buy houses, and income tax. Yes the company gets a tax break through upfront incentives but the sheer number of employees make up for it.

Shoot we had a $2 billion surplus this year. With all jobs created the income tax revenue shot thru the roof

Everytime I see Bob Orr's name I just think of Art Pope, JL Foundation and the whole crowd over there. They are all connected and I think they are just as interested as getting their names in the paper and collecting money.

When I also think of Bob Orr, I think about lighting fireworks in front of his house and just being a vandal over there as a kid. He lived near some of the attractive 15 year old girls when I was that age so I spent a lot of time near the "judge's house."

[DanRNC]

Sources on this one said Fidelity underannounced the number of jobs-reality is that they will be bringing around 5000 (the original number) overall once the new facility is completed.

My brother says that the financial world is abuzz about RTP-who would have thought it.

Edited August 10, 2006 by DanRNC

[Cary NC]

Sources on this one said Fidelity underannounced the number of jobs-reality is that they will be bringing around 5000 (the original number) overall once the new facility is completed.

My brother says that the financial world is abuzz about RTP-who would have thought it.

Forgive me but I am rather new to the posting. you might have already posted somewhere else but is your brother in the financial world or just know sources at Fidelity?

That is so awesome that Fidelity is coming with such a mass of people. Maybe Morgan Stanley will be next.

That means more hockey fans also to cheer on the Hurricanes

Edited August 10, 2006 by Cary NC

[DanRNC]

He works in the financial world out west and writes freelance articles for various financial magazines. He doesn't work at Fidelity however.

[Cary NC]

He works in the financial world out west and writes freelance articles for various financial magazines. He doesn't work at Fidelity however.

That is awesome. So does your brother think that Fidelity will be just the first of many to come to the Triangle? Usually Charlotte is thought of the Financial hub of the South. That may be changing, huh?

[DwnTwnRaleighGuy]

Finally the Triangle is getting more business diversification. Which is more of what I think we need to keep a more stable local economy.

Rememeber kids, never put all of your business eggs in one economy basket.

[orulz]

I believe that all unused space (or, space not planned to be used) at Cisco

You may be interested to know that there is a MASSIVE construction and grading project underway on both sides of Kit Creek Road smack in the middle of Cisco's RTP campus. It's between Louis Stephens Drive and Davis Drive, with Cisco buildings 1-9 to the east, and buildings 10-15 (13-15 now owned/occupied by NetApp) to the west.

I believe that Cisco is either actively using or has plans to actively use all the office space they currently have in RTP.

I drive, bike, and run by this area on a regular basis, but I'm not certain what this project is. I speculated that it has something to do with Credit Suisse, until I checked Wake County GIS and saw that the address registered for the property at the NW corner of Louis Stephens and Kit Creek is 11 Madison Ave, New York - the address for the US headquarters of Credit Suisse.

According to Wake County GIS, the property being graded is still owned by the RTP foundation. So, no clues there.

Could this have something to do with attracting Fidelity?

Edit:

Never mind. Seems that the RTP foundation may have plans to turn this area into a lake. Stormwater retention, perhaps?

Edited August 10, 2006 by orulz

[Subway Scoundrel]

That is awesome. So does your brother think that Fidelity will be just the first of many to come to the Triangle? Usually Charlotte is thought of the Financial hub of the South. That may be changing, huh?

I don't see RTP becoming a HQ or sales or suits type of hub, I see this as a tech center or operations. But maybe more suits will make their way. I could be wrong.

Banks are having to increase their server and storage capability. Every time I pick up the Financial times, I see where banks are growing and purchasing more capability. Plus, their needs for data storage is insatiable. And the need for quick, fast transactions trough local and international markets and data centers with storage of all that data keeps the market hopping. It is like everyone here filling up a hard file but the banks are doing it "at the speed of sound" so the need for more hard files grows. Multiply that times the numbers of banks and transactions in the world !!

The European banks have been on a buying spree of IT to keep up with electronic transactions.

RTP is the perfect place for data center and operations management. It also is a good place to grow other aspects due to the educated work force and cheaper than other locations.

Edited August 10, 2006 by Subway Scoundrel

[DwnTwnRaleighGuy]

From my understanding/reading the Credit Suisse complex will include Credit Suisse Private Advisors, and Asset Managers.

Not to sure about Fidelity though?