The Research Triangle has contributed to North Carolina's rapid economic growth.

The Research Triangle in North Carolina is rapidly expanding, with its population increasing by 5.6% from 2020 to 2.4 million people, as per Census data. This growth can be attributed to its easy access to skilled labor, favorable business climate, and affordable cost of living.

RTP, the largest research park in the U.S., is situated in the area that encompasses Raleigh, Durham, and Chapel Hill, along with their major universities, including North Carolina State University, Duke University, and the University of North Carolina at Chapel Hill.

In 1959, RTP was established as a joint initiative between governments, businesses, and universities to attract companies to the state and retain its highly educated and skilled students. Since then, it has significantly transformed the economy of North Carolina, which was previously heavily dependent on tobacco, textiles, and furniture.

Michael Walden Reynolds, an economics professor at North Carolina State University, stated that he has been there for 50 years and during that time, North Carolina has completely transformed its economy.

The Research Triangle Regional Partnership and Work In The Triangle report that the Triangle region is home to approximately 4,000 tech and 600 life science companies, with over 300 companies headquartered in RTP alone.

Although it temporarily halted its expansion in the East Coast hub for four years in 2024, the company stated its commitment to building a $1 billion hub there. Similarly, other major companies such as, and are expanding their operations in the area.

"Ryan Combs, executive director of the Research Triangle Regional Partnership, stated that companies are recognizing the benefits of conducting business in this area, including tech giants like Apple. However, there are also long-standing companies like Novo Nordisk that have been making significant investments here for over 30 years."

By 2030, the state's corporate income tax rate of 2.5% will be abolished, making it the lowest in the country.

In 2024, CNBC ranked the state fourth for economic growth and job growth, and placed it second on its list of America's Top States for Business.

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