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Gateway Expansion to Drive Greater Economic Growth in East Greensboro

Third Facility Opens with Core Technology Molding Corporation as Anchor

GREENSBORO, NC – October 5, 2018 Gateway University Research Park opened its new 70,000, square-foot $12 million Research Facility Three, anchored by Core Technology Molding Corporation, an innovative company that provides injection molding for major manufacturers around the world. Gateway is part of the strong growth slated for east Greensboro and is a place where businesses and universities forge partnerships for knowledge-based economic development. As a joint venture of North Carolina A&T State University and the University of North Carolina Greensboro, Gateway University Research Park has the robust energy of collaboration that can bring in more well-paying jobs to the city by attracting groundbreaking organizations.

“Core Technology is a model organization with leadership that understands how being connected with universities can drive dynamic growth through projects, research and internships,” said John Merrill, Executive Director of Gateway University Research Park. “At Gateway, our university connection establishes an environment that brings together knowledgeable, creative minds with top-notch facilities and highly advanced equipment. That leads to ongoing collaboration and stimulates innovation.”

New processes and materials are part of Core Technology’s outstanding accomplishments that led to its move and expansion at Gateway. The company, which currently has 30 employees, designed an award-winning injection molding process and uses robotics to manufacture components that it ships to 150 countries. Geoff Foster, CEO of Core Technology Molding Corporation, said, “We made a strategic move in choosing Gateway for our expansion. The Joint School of Nanoscience and Nanoengineering here provides access to resources including top-of-the-line equipment to print plastics and metals and scientific research to develop materials that don’t even exist now.” Foster added that as Core Tech continues to expand, the company expects to hire an additional 25 or more employees. Core Technology has also hired interns and full-time employees from North Carolina A&T State University. Core Tech has a certified Class 10,000 and Class 1,000 medical grade clean room.

The growth projections for Gateway’s 75-acre South Campus include 10-12 buildings, with plans for a high energy, vibrant setting with outdoor spaces to brainstorm, eat, play, and exercise.

“Gateway has excellent accessibility to major highways and is close to downtown Greensboro, which enables employers here to attract talent from a wide area,” said Merrill. He adds that not only is it an easy drive from downtown of 2½ miles, but also Gateway University Research Park can be reached by a city bus direct route or by bicycle.

The City of Greensboro is investing in the East Gate City Boulevard area. Its Community Investment Plan (CIP) will fund the development of an “Innovation Corridor” with pedestrian walkways and other enrichments to make the most of the cluster in the area, which includes Gateway University Research Park, Gateway Gardens, Barber Park and the Hayes-Taylor YMCA.

The #investeast campaign recently launched by the City of Greensboro provides business support services and leverages core economic and infrastructure assets to encourage new capital investment and job creation in East Greensboro.

Gateway University Research Park currently has available space in its new facility and the South Campus has acreage for another seven to nine buildings. Research Facility Three will have research labs and offices in addition to manufacturing and distribution spaces, along with a well-appointed boardroom for tenant and community use. Core Technologies occupies approximately half of the building.

About Gateway University Research Park

Gateway University Research Park provides a collaborative environment that combines groundbreaking business organizations with world-class laboratories, highly advanced equipment, and the intellectual capital of faculty and students from partner universities. The tenants and organizations connected to Gateway provide rich shared resources for technological growth, discovery and progress. With its outstanding research universities and entrepreneurial culture, Gateway is working to support economic development for the entire region. Any company that can benefit from collaboration is welcome to go beyond limits and break new ground at Gateway University Research Park. www.GatewayURP.com

About Core Technology

Core Technology, an innovative plastic injection molding company, providesplastic solutions to the automotive, medical, appliance, heavy truck, consumer goods and gaming sectors. Core Tech’s customers are in 150 countries and includeMerck, HAECO Americas, Parker Hannifin, Husqvarna, Altria, Kontrol Freek (XBox1, PS4 & Nintendo thumbsticks), Draexlmaier, Newell Rubbermaid, Consolidated Metco (for Heavy Truck customers: Volvo/Mack, Freightliner, Peterbilt, Kenworth and Navistar) and BMW Manufacturing, LLC. With engineering expertise, in-depth manufacturing knowledge and an inventive sense, Core Tech is able to offer lower pricing in plastics injection molding, a process with tight tolerances that requires sophisticated tool designs. Core Technology uses two-shot injection moldingand robotics to deliver components that range widely in size and complexity.www.CoreTechnologyCorp.com