IBM consolidates RTP footprint as it weighs the future of its 400-acre campus
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IBM in Research Triangle Park. Photo: Zachery Eanes/Axios
IBM, one of the Triangle's largest employers, is consolidating its Research Triangle Park-based employees into one office building and weighing future plans for its sprawling 400-acre campus in RTP.
Why it matters: IBM's corporate campus has been a cornerstone of Research Triangle Park since 1965, when it became one of the first technology companies to bet on the region.
- The company brought thousands of transplants to the region and provided high-tech jobs for graduates of local universities, helping keep many from leaving the state entirely in search of technology jobs.
Driving the news: IBM told Axios it is moving most of its employees into its RTP 500 office buildings, a multi-building property it sold to the developer Hines in 2023 for $66 million and currently leases.
- The Triangle Business Journal was first to report the news.
The big picture: The move by IBM comes at a time when leaders of Research Triangle Park plot the future of the famed research park, under a plan it has dubbed RTP 3.0.
- That plan has pushed to rezone much of the land within RTP to allow for the potential of mixed-use development on land there, rather than just office or lab uses.
Between the lines: RTP is home to more than 300 companies and spans 7,000 acres in Durham and Wake counties.
Yes, but: Some of its campuses are aging and don't possess the amenities that many employers prefer in modern office properties — including access to non-work features like restaurants and bars.
- That was one motivation behind the Research Triangle Foundation's efforts to build Hub RTP, the first mixed-use development in RTP featuring a new office building, restaurants and apartments.
- The growing interest in modern amenities comes at a time when employers like IBM are requiring employees to come into the office more frequently.
What they're saying: "IBM is focused on identifying real estate opportunities that enhance the employee experience," IBM spokesperson Carrie Bendzsa said.
- The decision to move employees to the RTP 500 building underscores IBM's push to "optimize our footprint and foster deeper collaboration" among its Triangle-area employees.
- Bendsza said IBM is "exploring options" for the future of its Cornwallis Road campus, but noted it still is home to several labs and its security operations.
- IBM has not shared specific job numbers for its RTP campus, but the Raleigh Chamber of Commerce most recently pegged it at around 8,000 employees.
Scott Levitan, the CEO of the Research Triangle Foundation, which manages RTP, told Axios that IBM has been a key partner in helping advance plans around RTP 3.0 and the park's future.
- "We are in discussions with IBM about its long-term future, as we know it remains strongly committed to RTP," Levitan said.