Red Ventures Plans Major Expansion in Charlotte, North Carolina’s University Research Park
Red Ventures currently has more than 1,900 employees and is headquartered in Indian Land, South Carolina, just two miles south of Charlotte. Red Ventures’ 34,000 square foot facility in the University area is equipped with a gym, on-site café and outdoor basketball court. It complements the company’s headquarters, which is set to more than double in size with the opening of a 180,000 square foot building in early June.
The North Charlotte location is part of Red Ventures’ larger expansion strategy, and will help set the stage for the next decade of growth. “Our vision is to become the best place to work – not just in Charlotte – but on the East Coast,” Red Ventures CEO Ric Elias said. “Our unique corporate culture, world-class facilities and unrivaled career opportunities will continue to make us a premier employer and bring top technology, sales and business talent to the Carolinas.”
The North Charlotte facility aims to employ a total of 700 people by 2018, according to the North Carolina Department of Commerce. “North Carolina combines one of the strongest workforces in America with a highly respected university system,” said Commerce Secretary Sharon Decker. “Red Ventures expansion is further proof that that the Carolina Comeback is well underway with the promise of hundreds of new jobs.”
“Red Ventures and its team personify the classic American success story,” Governor Pat McCrory said. “They turned a small idea into a multi-hundred-million dollar business and became one of the fastest growing private companies in the United States. We look forward to seeing the entrepreneurial spirit of Red Ventures continue to flourish and play an active role in the Charlotte community.”
The North Charlotte expansion was made possible in part by an award to Red Ventures from the state Job Development Investment Grant program, as voted by the state Economic Investment Committee. Receipt of the award is based on proof of job creation and other performance requirements. JDIGs are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state, and which would not be undertaken in North Carolina without the grant. Over twelve years, the JDIG award could yield aggregate benefits to Red Ventures of up to $3.2 million.
“We would like to thank Red Ventures for choosing Charlotte for this expansion,” said Bob Morgan, President/CEO of the Charlotte Chamber. “In a short period of time, Red Ventures has established itself as a leading employer in the Charlotte area and today’s announcement is an affirmation of the company’s position as an entrepreneurial market leader.”
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