Raleigh Chamber Economic Development May recap

Economic Development May Recap

New & Expanding Companies:

Allscripts Healthcare LLC | Healthcare Delivery and Technology | Expanding
Allscripts Healthcare LLC, a healthcare technology company, announced plans to create 350 additional jobs in Raleigh by the end of 2017 and invest $2.8 million at its facility. The jobs will be primarily in research and development. Allscripts offers healthcare clinical, financial, connectivity, and information solutions to hospitals and physician practices. The company employs more than 1,200 people in Raleigh.

Compliance Implementation Services | Life Sciences | New
Compliance Implementation Services, a consulting firm for life sciences companies, will lease 23,089 square feet of the new Perimeter Two office building at Perimeter Park in Morrisville that will begin construction in June. The company has 50 employees in Morrisville, its largest office, and its new space will enable it to expand its staff by 60 percent.

Entrinsik Inc. | Software/IT | Expanding
Entrinsik Inc., a Raleigh analytics software firm, announced it is expanding and will relocate its corporate headquarters to an 11,130-square-foot space in the Horizon I office building at 7721 Six Forks Road in Raleigh. The company employs about 25 people and has grown 10 to 20 percent a year for the past 10 years. Entrinsik provides business intelligence and analytics software to clients across the region and across the country, particularly those in the higher education and insurance industries.

Fujifilm Medical Systems | Advanced Medical Technology | Expanding
Fujifilm Medical Systems, a medical image and information technology company, will expand into 42,456 square feet of the new Perimeter Two office building at Perimeter Park in Morrisville that will begin construction in June. Fujifilm Medical Systems is a leading provider of diagnostic imaging products and medical information solutions.

Hyatt Place | Hospitality | New
Hyatt Place, a hotel property brand owned by Hyatt Hotels Corp, announced plans for a location at NC State University’s Centennial Campus in Raleigh. Construction for the proposed hotel and conference center will likely begin in early 2014, and the hotel is expected to open in mid-2015. The Centennial Campus hotel is projected to have 150 guest rooms and between 7,500 and 10,000 square feet of meeting room space. It will be built on 10 acres near the Park Alumni Center building on the southern shore of Lake Raleigh and the Lonnie Poole Golf Course.

MaxPoint Interactive | Advertising | Expanding
MaxPoint Interactive, a digital advertising technology company, announced it is expanding and has signed a lease for 32,715 square feet at Perimeter Two office building at Perimeter Park in Morrisville that is slated to be under construction beginning in June. MaxPoint help retailers, brands, and multi-location business owners drive local in-store traffic with an innovative Digital Zip technology.

Monitech Ignition Interlock Systems | Manufacturing | Expanding
Monitech Ignition Interlock Systems, an integrated ignition interlock company, recently expanded to a 10,000-square-foot location and will soon add an additional 5,000 square feet. The company has grown from 60 employees two years ago to 100 today. Monitech Ignition Interlock Systems, with headquarters in Morrisville, manufactures, installs, and monitors the devices that prevent a car from starting if the driver has alcohol in his or her system.

NeoNova Network Services | Software/IT | Expanding
NeoNova Network Services, a provider of cloud-based technologies, is expanding and relocating its corporate headquarters to Trinity Place in Raleigh. The company will add 50 jobs and occupy 14,000 square feet of office space with the option to expand another 8,000 square feet. NeoNova brokers cloud applications and services for rural and regional ISPs and thousands of small businesses nationwide. The expansion and relocation will allow NeoNova to continue hiring talented professionals to develop, deploy, and support its growing portfolio of cloud-based services and applications.

TopQuadrant, Inc. | Software/IT | New
TopQuadrant, Inc., a data integration company, announced it completed a relocation of its headquarters to Raleigh and hired six new employees. Its new offices are part of Centennial Campus at North Carolina State University. The headquarters was previously located in Mountain View, Calif.

Virtual Exchanges Inc. | Software/IT | Expanding
Virtual Exchanges Inc., an online shopping business, purchased half of a 52,000-square-foot space in Raleigh with plans to expand its operations and create 10 additional positions by the end of 2013. The Wake Forest-based online retail business was founded in 2000 as a family company and is currently housed in a 9,702-square foot building. Virtual Exchanges sells more than 150,000 articles of clothing and accessories each year through online services.

Trade Shows & Recruitment:

In a continued effort to promote Raleigh and the Triangle to real estate professionals and site selection consultants, James Sauls, director for Raleigh Economic Development, and Debbie Lilly, vice president of client services for the Research Triangle Regional Partnership, attended the 2013 National Meeting of the Society of Industrial and Office Realtors. The meeting was held in Indian Wells, Calif., May 1– 4. Raleigh Economic Development and RTRP received excellent exposure and recognition for their efforts. During the meeting, Sauls and Lilly spoke with more than 200 brokers and developers to learn about their lines of business and the potential opportunities for their clients in Raleigh and the Triangle. The conference included representatives from major brokerage networks and companies such as Grubb & Ellis, NAI Global, Colliers Pinkard, CB Richard Ellis, Jones Lang LaSalle, Cushman & Wakefield, Duke Realty Corporation, and others.

Marketing Initiatives:

Work in the Triangle, a talent initiative of the Greater Raleigh Chamber, launched its #TriangleTuesdays initiative on May 14. Every Tuesday, Work in the Triangle will post 10 of the area’s hottest job openings on its Web portal and use the hashtag #TriangleTuesdays to share other openings via Twitter (@WorkTriangleNC), Facebook, and LinkedIn. The campaign aims to promote the growing number of employment opportunities throughout the Triangle and continue Work in the Triangle’s ongoing efforts to match the area’s top talent with top employers. Employers can promote their job openings by tweeting them to @WorkTriangleNC or sharing them on Work in the Triangle’s LinkedIn and Facebook pages. Additionally, employers and businesses can send details about available positions to info@WorkintheTriangle.com.

The 2013 Economic Development Forum hosted more than 200 attendees May 16 and highlighted the growing attraction of Wake County and the Triangle. Attendees heard from North Carolina Department of Commerce Secretary Sharon Decker on the priorities the new administration has for North Carolina. The forum also featured Vern Davenport, CEO of M*Modal, Jeff Eckard, senior vice president of NetApp, and Doane Kelly, president of KLG Advisors. The three leaders shared their perspectives on Wake County and the opportunities for growth in big data/analytics, healthcare IT, financial services, and shared services.

Recent Rankings:

For a full list of rankings, please download the Raleigh/Wake County Rankings Flyer.

#3 Best State for Business (North Carolina) Chief Executive
#4 Life Science Cluster in the U.S. (Raleigh-Durham, NC) Jones Lang LaSalle
#4 Best State for Academic Research & Development Intensity (North Carolina) U.S. Chamber of Commerce
#5 Competitive State of 2012 (North Carolina) Site Selection Magazine
#6 Best State Legal Environment (North Carolina) U.S. Chamber of Commerce
#8 Big City Winning the Battle for Information Jobs (Raleigh-Cary, NC) Forbes
#8 Largest Increase in Jobs from 2011 —- 2012 (Raleigh-Cary, NC) U.S. Bureau of Labor Statistics
#8 Best Big City for Women in the Workforce (Raleigh-Cary, NC) Nerd Wallet
#8 Lowest Tax Burden in the U.S. (North Carolina) Site Selection Magazine
#9 Best City to Raise a Family in America (Raleigh, NC) Movoto
#10 Best State for Road Quality (North Carolina) U.S. Chamber of Commerce
Top 10 City for Newlyweds to Live and Work In (Raleigh, NC) Forbes
#11 Best City for Jobs in 2013 (Raleigh-Cary, NC) Forbes
#15 Fittest City in the U.S. (Raleigh, NC) American College of Sports Medicine

Year-to-date Metrics:

Jan. 1 — May 31, 2013
New Projects 44
Site Visits 29
New & Expanding Announcements 37
Jobs 2,545
Investment $183,500,000

Since Jan. 1, 2013, Wake County Economic Development has had 44 new projects and 29 site visits. Wake County has had 37 announcements of companies moving or expanding to the area, creating 2,545 jobs and investing more than $183 million.

New and Expanding Announcements by Cluster:

Of the 37 new and expanding announcements in 2013, 19 of those (51 percent) are in Wake County Economic Development’s cluster industries.

Labor Market Statistics:

Wake County

2012 April
2013 Year to Date
Labor Force 486,161 487,263 + 1,102
Employed 451,239 455,298 + 4,059
Unemployed 34,922 31,965 – 2,957
Rate 7.2% 6.6% – 0.6%

This information was compiled by Wake County Economic Development, a program of the Greater Raleigh Chamber of Commerce. For more information, contact Casey Cronce at ccronce@raleighchamber.org.

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About TARR Report

S.M.A. Publications was formed in 1997 with a mission of providing real estate information for practitioners within the Research Triangle Park area of North Carolina. The company produces the T.A.R.R. Reports which are published monthly, quarterly and annually, covering all aspects of the residential real estate market. The publisher, Stacey P. Anfindsen, has over 23 years of residential experience in the Triangle market. He is an active real estate appraiser, educator and consultant.
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