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Greensboro, Winston-Salem, High Point The Triad Area
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Old 07-19-2006, 08:11 AM
Location: Meriden, CT
2 posts, read 6,970 times
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I was told that the Triad in NC is becoming the new Silicon Valley? That it is booming so fast that it will end up becoming as expensive as California's Silicon Valley. Does anyone know if this is true? I would hate to move there and not be able to afford to stay there just like here in CT.
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Old 07-19-2006, 08:32 AM
Location: Metro Atlanta
582 posts, read 1,927,595 times
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Default I disagree

I assume you mean the "Triangle" (Raleigh, Durham, Chapel Hill) and/or RTP (Research Triangle Park in the middle of the "triangle"). The "Triad" refers to the Greensboro, Winston-Salem, High Point area and has traditionally been a manufacturing-oriented area.

Although the Triangle has a well-deserved high-tech reputation, it has a long way to go to become another Silicon Valley. Two reasons I can think of:

1) The Triangle/RTP has a very good business community and some notable companies, but it doesn't have the volume of high-market-value companies that are HQ'ed there as Silicon Valley.
2) Keep in mind that California was expensive before the high-tech boom of the last two decades; North Carolina was not. Although parts of NC have become relatively more expensive than they were 10 years ago, it is still affordable by western and northeast standards.
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Old 07-19-2006, 11:25 AM
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JAS is right...you must be thinking of the Triangle. The Triad is more manufacturing-based. Plus, I don't know if the Triangle is as heavily tech-influenced as Silicon Valley is...because the fastest growing industries in the Triangle now are more biological/medical/pharmacological -based, than just computer stuff.
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Old 02-06-2007, 12:29 PM
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The Triad wants to become more tech oriented, but so far they haven't made much headway. It is slowly moving away from manufacturing, but more toward banking and medical related services.
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Old 02-26-2010, 06:55 PM
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The RTP is more of a "Silicon Valley" for Biological Industries
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Old 06-08-2010, 08:01 AM
Location: Greensboro, NC USA
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The Triad economy is slowly moving towards tech, especially Greensboro. Both Greensboro and Winston-Salem have research parks (Piedmont Triad Research Park and Gateway University Research park), however Winston-Salem seems to be focusing on biotech more. But Greensboro is poised to develop a tech cluster because of its location and the fact that I-85, I-40 and I-73 all merge in Greensboro. A joint nanoscience technology school between UNCG and NC A&T State University is being built in the Gateway University Research Park on the east side of the city.

In addition companies such as Tyco Electronics and RF Micro Devices (communications computer chip maker) has its corporate headquarters and manufacturing facilities in Greensboro. RF Micro has facilities in places like Silicon Valley, Austin and the UK and its based in Greensboro. The FedEx Hub which opened last year will be key in attracting more tech companies to the area. The cost of living and the cost of expansion is far less when compared to places like Silicon Valley and even Raleigh-Durham. Right now the economy is slow but when things begin to pick up, I would expect to see a major boom in the Greensboro area over the next 20 years. Its a long and tough transition from traditional manufacturing to hitech but its happening in the Triad.

Over the decades The Triad became too complacent because there was a time when the Triad was a manufacturing powerhouse in the southeast and was the economic engine for the state of North Carolina. Big tobacco giants such as RJR and Lorillard are based in the Winston-Salem and Greensboro respectively. High Point is the furniture capital of the world and hosts the world's largest home furnishings market twice a year and Greensboro is home to Wrangler, fortune 500 company and apparel giant VF Corp plus Cone Mills which is the world's largest producer of denim. Once Charlotte emerged as a financial/banking giant and the Triangle emerged as a major research mecca, the Triad was no longer the state's economic engine. But history happens in cycles. The same things that turned the Triad into a major manufacturing economy (location, transportation network ect) will help turn the area into a tech cluster. But I think the Triad will have a more diverse economy that Charlotte and the Triangle. Financial services play a key role in the Triad's economy as well. BB&T bank is headquartered and Winston-Salem and The insurance division of Lincoln Financial and NewBridge Bank is based in Greensboro. Winston-Salem is known for its banking institutions and Greensboro is known for insurance services. BTW Wachovia Bank was founded in Winston-Salem before it moved to Charlotte.

Without a doubt the FedEx Air Cargo Hub will be a major piece of the puzzle in shaping a diverse economic future for the Triad. It was a big factor in Honda Aircraft Company choosing Greensboro for its world headquarters and building a jet factory in the city. So the future looks bright for the Triad. There is a reason There are signs along county line that say "Welcome to Guilford County, North Carolina's Future"

Last edited by gsoboi78; 06-08-2010 at 08:50 AM..
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