The newly-inhabited North Campus Research Complex may bring more than just additional lab space and innovative research to Ann Arbor throughout the next few months.

The 28-building complex on Huron Parkway on North Campus is slated to reach full occupancy in March 2012 and is expected to bring more than 1,000 employees, five private companies and the University’s largest collection of research groups to the area. University officials and business owners are hopeful that the increase in daytime residency and job opportunities may bring needed economic growth to the Plymouth Road area, where business profits have declined since Pfizer Inc. left in 2008.

The University bought Pfizer’s approximately 2 million-square-foot facility in June 2009 and has since been preparing the space for use.

According to NCRC Executive Director David Canter, about 400 people have already moved into the complex, and 100 of those moved in within the last two months. By March, University officials hope to have 500 people settled in the site.

BoroPharm — a private chemical company — is already working inside the facility, and research groups that specialize in translational oncology, cardiovascular health, health technologies, sustainable energy and biomaterials are set to follow.

Due to the rapid increase in research opportunities, both Canter and Jim Kosteva, the University’s director of community relations, are optimistic about the NCRC’s potential to create new jobs and increase revenue for Ann Arbor businesses.

“We’ve outlined a goal of 3,000 new jobs at that facility over the next decade, and that would about replicate the number of employees that Pfizer had at the site,” Kosteva said. “It unquestionably would have a positive impact on local businesses in the Plymouth Road corridor.”

Many retailers in the surrounding area hope to experience an increase in foot traffic and revenue from the complex.

Chris Klademenos, owner of Flim Flam Restaurant — a Chinese restaurant located in the Plymouth Road Mall across from the NCRC — said the combination of losing Pfizer customers and the recent road construction on Plymouth Road has brought down business significantly in the last few years.

“I hope they get more people, more research, more offices (here),” Klademenos said. “Hopefully something will happen. Everybody is waiting.”

Despite the potential economic growth to the area, most businesses have not seen a spike in revenue. For Domino’s Pizza, also located in the Plymouth Road Mall, business fell when Pfizer moved, but it has stabilized since.

Eric Marlow, an area supervisor for Domino’s, said the restaurant is looking forward to the possibility of regaining the strong customer base it had when Pfizer was in the space with the NCRC.

In addition to business owners, the complex may also mean economic opportunities for residents in the area. Canter said economic activity generated by the site could drive up home values in the area, as researchers moving to Ann Arbor look for places to live. Similarly, job creation from the NCRC could decrease the city’s unemployment rate, which was 9.5 percent in August.

“The natural consequences of adding nearly 2 million square-feet of lab and office space will lead to increased economic activity,” Canter said. “So when the University is thriving (and) growing, the entire community feels the benefit of that.”

According to Canter, the NCRC will not only house research but will also be a place for students to take classes, intern and study.