Affluent Raleigh attracts talent to ‘Research Triangle’

LexisNexis’ plan to move technology jobs from Dayton to North Carolina will add more punch to an area that already enjoys a reputation as a high-tech magnet.

Experts point to the high-quality research universities near Raleigh, including Duke, as positives that make the “Research Triangle” an attractive option for businesses. LexisNexis currently leases a 120,000-square-foot building on North Carolina State University’s Centennial Campus.

Over the past several decades Raleigh has experienced significant growth while Dayton has struggled with a declining manufacturing sector and the loss of corporations.

Allan Crasto, director of the University of Dayton Research Institute, says top talent sometimes might pass on Dayton because of its Midwest reputation.

“That’s an initial obstacle — when people look at a map, there is no ocean close by,” Crasto said. “The biggest challenge is getting them here in the first place, and getting them to see the value of this Midwest town. It’s a great place to raise a family, with good schools and a low cost of living.

“Like a lot of our people, they come here thinking, ‘OK, we’re only going to stay here a couple years and then move on.’ But then they get to like the place and stay.”

While the Dayton region might not have as many research universities as Raleigh, Crasto says having UD and Wright State helps to attract employers and talent. For example, he cites the GE Aviation EPISCenter on UD’s campus.

According to a 2012 News & Observer story, LexisNexis announced that it would create a “center of excellence” in Raleigh that would create 350 jobs with an average salary of $91,644. The company received $8.9 million in state incentives for the project.

North Carolina has taken significant steps over the years to utilize its research universities. For instance, in 1959, the 7,000-acre Research Triangle Park was built in the Raleigh region. That business park now is home to more than 700 companies, and has helped the region grow and retain top talent.

Data from the U.S. Census Bureau’s 2010-2014 American Community Survey 5-year estimates shows how much Raleigh is growing, compared to Dayton.

Here are three takeaways from that data:

1. When it comes to population, these two regions are headed in different directions. According to Forbes.com, Raleigh was the fastest-growing U.S. metropolitan statistical area between 2000 and 2012, jumping 47.8 percent.

Population:

Dayton — 801,259

Raleigh — 1,189,579

One-year population change:

Dayton — -0.08 percent

Raleigh — 2.31 percent

2. Daytonians are less likely to have 4-year degrees. In addition, the region has fewer research universities compared to Raleigh.

Percent of residents with a bachelor’s degree or higher:

Dayton — 26.5 percent

Raleigh — 42.5 percent

Research universities within 30 miles of downtown:

Dayton — Wright State University, University of Dayton.

Raleigh — Duke University, North Carolina State University, University of North Carolina at Chapel Hill.

3. The Dayton region has a much lower cost of living, but its wages are lower.

Median rent:

Dayton — $751

Raleigh — $912

Median home value:

Dayton — $122,700

Raleigh — $206,000

Average household income:

Dayton — $63,752

Raleigh — $82,859

Percent living below the poverty level:

Dayton — 16.9 percent

Raleigh — 12.3 percent

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