Will Apple Think Different at Research Triangle Park?
- $130,000 average salary for new Apple campus
- Up to 10,000 new jobs in North Carolina Research Triangle Park
Apple (AAPL +0.71%) is said to be finalizing a new campus deal in North Carolina’s Research Triangle Park area. Will the tech behemoth be able to recruit more diverse talent?
Why This Matters: The Research Triangle Park location gives Apple access to talent at HBCUs Shaw University and North Carolina Central University. The opportunity would align with Apple’s active efforts to attract black tech talent through its Apple HBCU Scholars Program.
This move can potentially up its black employee representation which currently falls at 9%. Similarly, the Research Triangle Park neighborhood is part of the Raleigh-Durham-Chapel Hill vicinity, where 22% of the population is black. Those numbers nearly double the nations 12% black population, and are slightly higher than North Carolina’s overall 21%. Local companies such as IBM (IBM +0.98%), Cisco (CSCO +1.25%), and Lenovo (LNVGY +2.58%), usually rake in talent from three neighboring universities: North Carolina State University, Duke University, and University of North Carolina at Chapel Hill.
Situational Awareness: Raleigh is one of the cities where black people thrive in terms of home ownership, affordability, relatively-low violence, and income. In raleigh, Forbes noted that 41.3% of blacks are homeowners and the median black household income sits at $49,433. That’s lower that the $63,238 average income in the Research Triangle area. The Apple development, which is expected to cost anywhere between $1.5 billion to $2 billion, could make the area more attractive for black people. Not only is the project supposed to bring about up to 10,000 new jobs, but the average paycheck will be to the tune of $130,000 per year.
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