Commerce
Anchored by leading technology firms, government and world-class universities and medical centers, the area's economy has performed exceptionally well. Significant increases in employment, earnings, personal income and retail sales are projected over the next 15 years.
The region's growing high-technology community includes such companies as IBM, SAS Institute, Cisco Systems, NetApp, Red Hat and Credit Suisse First Boston. In addition to high-tech, the region is consistently ranked in the top three in the U.S. with concentration in life science companies. Some of these companies include GlaxoSmithKline, Biogen Idec, BASF, Merck & Co., Novo Nordisk, Novozymes, and Wyeth. Research Triangle Park and North Carolina State University's Centennial Campus in Raleigh support innovation through R&D and technology transfer among the region's companies and research universities (including Duke University and The University of North Carolina at Chapel Hill).
The area has fared relatively well during the Late-2000s recession ranked as the strongest region in North Carolina by the Brookings Institution and among the top 40 in the country. The change in unemployment during 2008 to 2009 was 4.6% and home prices was 2%. The Greensboro metropolitan area was listed among the second weakest and the Charlotte area among the middle in the country.
Read more about this topic: Research Triangle
Famous quotes containing the word commerce:
“Honour sinks where commerce long prevails.”
—Oliver Goldsmith (1728–1774)
“A mere literary man is a dull man; a man who is solely a man of business is a selfish man; but when literature and commerce are united, they make a respectable man.”
—Samuel Johnson (1709–1784)
“It was you that broke the new wood,
Now is a time for carving.
We have one sap and one root—
Let there be commerce between us.”
—Ezra Pound (1885–1972)