Red Bull and a can filling company, Rauch, have partnered to build a 2 million-sf Red Bull production facility in Concord, North Carolina worth $740 million.
The new Red Bull production facility will be set up at the site of a former Phillip Morris plant on Highway 29, and consists of an 800,000 sq. ft. distribution center for Red Bull, with a 1.4 million-sq. ft. space for Rauch to run its can-filling operation.
Also Read Construction of Precision Swiss manufacturer HQ in Brunswick County, North Carolina
Steve Morris, the Cabarrus Board Chairman referenced the Philip Morris expansion announcement in 1991, which was advertised as the largest economic development announcement in the history of North Carolina. Morris stated, “None of us could have imagined that we’d be here in 2021 talking about that same property being home to the largest economic development investment in the history of Cabarrus County. It’s a reflection on the resilience of this community.”
The development of the Red Bull production facility in North Carolina will be financed by two approved Job Development Investment Grants (JDIG) from the state’s Economic Investment Committee. According to the terms of the grants, $4.1 million is to be paid over a 12 year duration, if performance targets are met by the companies. During this same timeframe, the economic impact of this project to the state is expected to be around $1.8 billion.
Executive director of the Cabarrus Economic Development Corporation, Page Castrodale also stated that the establishment of these companies would provide great investment opportunities and jobs in the community. Castrodale further explained that the Grounds at Concord had drawn a lot of attention over the years due to the tremendous potential of the site, and this was the kind of operation the community was hoping for.
North Carolina’s Commerce Secretary, Machelle Baker Sanders, mentioned in an announcement that the community was excited about the partnership that is being created between Red Bull and Rauch in North Carolina. Sanders added, “Like this partnership, North Carolina’s success is supported by strong economic and workforce development partnerships, which will continue to attract growing companies that are creating good-paying jobs and impactful investments statewide.”
The Governor of North Carolina, Roy Cooper also said that this investment, worth over $740 million, would create more than 400 jobs with an average wage of $50,377.
