Red Ventures Invests $5 Million To Expand Charlotte, North Carolina, Facility
12/08/2015
Founded in 2000, Red Ventures is the country’s largest technology-enabled platform for sales and marketing organizations. The company uses advanced analytics and proprietary technology to optimize client leads and close sales for some of the nation’s top brands.
Red Ventures will look to fill positions including software developers, analysts, I/T specialists and inside sales agents, just to name a few. The additional workforce will result in a payroll impact of nearly $24.5 million annually.
“Our continued investment in the Charlotte region centers around attracting and retaining the best talent,” said Ric Elias, CEO of Red Ventures. “We’re excited to have established a partnership with the State of North Carolina that brings top-tier jobs and facilities to the region.”
The project was made possible in part by an award to Red Ventures from the state Job Development Investment Grant (JDIG) program, approved by the state’s Economic Investment Committee earlier today. Payments under the award occur only after two state agencies, NC Commerce and NC Revenue, have verified job creation and other performance measures. Under the terms of the company’s JDIG, Red Ventures is eligible to receive up to $2.65 million in total reimbursements over the 12-year life of the award.
JDIGs reimburse new and expanding companies a portion of the newly created tax-base with the goal of increasing the overall tax benefit to the State of North Carolina. State law also requires a financial commitment to the project on the part of local government.
Red Ventures’ JDIG will result in as much as $88,650 in new funding for the state’s Industrial Development Fund – Utility Account to help finance economic infrastructure in less populated Tier 1 and Tier 2 counties. When JDIGs are made to companies in more prosperous Tier 3 counties such as Mecklenburg, 25 percent of the award is directed to the IDF-Utility Fund.
“This great American success-story continues to grow its business and flourish in our state,” said Governor Pat McCrory. “By adding 500 new jobs, Red Ventures has shown that North Carolina has the workforce and business climate to grow and succeed.”
“This globally connected company could operate from anywhere,” said North Carolina Commerce Secretary John E. Skvarla, III. “Red Ventures chose Charlotte for this expansion because it knows that nothing compares to North Carolina’s technology talent, pro-business environment and exceptional quality of life.”
Joining NC Commerce and EDPNC in helping facilitate Red Ventures expansion is the North Carolina General Assembly, the North Carolina Community College System, Mecklenburg County, the City of Charlotte, and the Charlotte Chamber of Commerce.
Project Announcements
Piramal Pharma Solutions Expands Lexington, Kentucky, Operations
10/04/2024
G&H Decoys Plans Corning, Arkansas, Headquarters-Manufacturing Operations
10/04/2024
Britain-Based Ultimate Defense Technologies Establishes Billings, Montana, Operations
10/04/2024
Google Plans Dorchester County, South Carolina, Data Center Operations
10/04/2024
Sirius Analysis Plans Virginia Beach, Virginia, Headquarters
10/04/2024
South Korea-Based ILJIN Plans Auburn, Alabama, Manufacturing Operations
10/04/2024
Most Read
-
Top States for Doing Business in 2024: A Continued Legacy of Excellence
Q3 2024
-
What the Latest EPA PFAS Rule Means for Site Due Diligence
Q3 2024
-
Cold Storage: The Next Big Thing in Industrial Real Estate
Q3 2024
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The Challenge of Securing Sufficient Electrical Power for Battery Cell Plants
Q3 2024
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
Semiconductors’ Fragile Relationship With Water May Be Tested
Q3 2024