A pair of beverage companies to invest $740 million, bring 400 jobs to Charlotte area
Two global beverage companies plan to create more than 400 jobs and invest $740 million in Concord by 2027 to create a new beverage manufacturing site, Gov. Roy Cooper announced Tuesday.
The joint venture is between Red Bull and Rauch, Cooper said. The location will be at the sprawling, former Philip Morris cigarette manufacturing site just down the road from Charlotte Motor Speedway.
The two companies will partner to build a new beverage manufacturing, filling and distribution center spanning 2 million square feet, including office space, at The Grounds at Concord.
It’s the largest economic development in the county’s history, Cooper said. N.C. Senator Paul Newton, a Republican whose district includes Cabarrus County, called the beverage manufacturing partnership a “game-changing” job opportunity.
Minimum pay for the jobs is $50,000, Cooper said. Cabarrus County’s average salary is $41,255.
“We are in North Carolina coming out of this pandemic in a strong way, with good paying jobs we continue to attract,” Cooper said. “We’re developing a global reputation for that kind of place and that’s exciting.”
Popular Red Bull energy drink maker launched in 1987 in Austria and now has more than 12,600 employees in 171 countries, according to the company website. The company sold more than 7.9 billion cans last year worldwide,
Rauch, also an Austrian company, was founded in 1919 and is a leading fruit juice producer and beverage filling company in Europe.
It has a North American operation in Arizona, using aluminum cans with customized packaging, according to the company website.
Incentives for the companies
Substantial incentives were also involved in luring the project to Cabarrus County outside of Charlotte.
The Job Development Investment Grants approved by the state’s Economic Investment Committee Tuesday includes incentives of over $1 million over 12 years for 90 new jobs by Red Bull and over $3 million over 12 years for 323 new jobs by Rauch at the new beverage campus.
The hub will include Red Bull’s 800,000-square-foot regional distribution center and Rauch North America’s can-filling operation covering 1.4 million square feet of factory, distribution and office space, according to the Cabarrus Economic Development Corp.
Cabarrus County and the city of Concord will hold public hearings next month regarding performance-based property tax grants on increased tax value, which are applicable if the operations meet continual performance goals, the county EDC said.
Other recent jobs announcements
Other companies have announced expansions in the Charlotte market, too.
In May, USAA based in Texas said it would open an office at 200 West Blvd. in South End this year, creating up to 750 jobs over the next few years. The financial, banking and insurance company that serves military families already has about 100 employees in the Charlotte area.
Just days before, fintech company Credit Karma said it would open its East Coast headquarters in Charlotte, spending $13 million and adding 600 jobs in the next five years.. Credit Karma opened an East Coast office five years ago in Charlotte.
And another fintech firm, stock trading app Robinhood said in March it will invest $11.7 million to open an office in Charlotte. It expects to add close to 400 jobs and invest $11.7 million in a new customer support and account operations center.
Also in March, British electric vehicle company Arrival said it will spend over $41 million for its second U.S. microfactory at Meadow Commerce Center, near Charlotte Douglas International Airport, creating 250 jobs. The company will have over 900 jobs in the Charlotte region between its first U.S. microfactory in Rock Hill and its North American headquarters in Charlotte’s South End.
Last year, health insurance giant Centene, based in St. Louis, said it would invest $1 billion and create at least 3,237 jobs within the next two years in Charlotte. It expects to add more than 6,000 jobs total, including new hires and relocated employees.
The first phase of its campus and building at University Research Park is under construction and expected to open next year.
This story was originally published July 13, 2021 at 12:35 PM with the headline "A pair of beverage companies to invest $740 million, bring 400 jobs to Charlotte area."
