Local News

Two Companies To Have Impact On RTP's Economic Future

Posted October 21, 2004

— An investment banking services firm will locate a global businesses center at Research Triangle Park, bringing 400 new jobs and more than $100 million in overall investment to the area. Meanwhile, another plant is closing its doors.

Company officials for

Credit Suisse First Boston

say the education of workers and lifestyle of the area were key to making the decision to locate operations in the area. The global business center will house a support staff for investment banking, financial services and investment research.

Most of the high-tech, high-skilled jobs will be filled locally and the average pay will be $72,000, the company said.

The move came about because of a state 10-year job investment grant. The State Department of Commerce estimates the state product value will be $2.4 billion over the next 10 years. The company said it expects operations in RTP to open in early 2005.

Meanwhile, another RTP company is closing its doors. Eli Lilly plans to close the lab by April 1. Company officials said the work at the RTP facility would be completed in facilities in Indianapolis.

Eli Lilly will offer RTP workers a voluntary severance package. It will offer some people the chance to relocate to its headquarters in Indianapolis.

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