NC: Red Ventures to Expand in Mecklenburg County, Hire 580
2 May, 2014
Governor Pat McCrory and North Carolina Commerce Secretary Sharon Decker announced Red Ventures will expand its operations in Mecklenburg County. The rapidly growing technology and marketing company plans to create 580 new jobs in North Carolina over the next five years and invest more than $2 million at its Charlotte location.
“Red Ventures and its team personify the classic American success story,” said Governor McCrory. “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.”
Red Ventures currently has more than 1,900 employees and is headquartered in Indian Land, SC, just two miles south of Charlotte. The company has been ranked among the top 10 ‘Best Places to Work’ in the Charlotte region for five years running and has grown more than 30% every year for the last five years. The North Charlotte facility aims to employ a total of 700 people by 2018.
“North Carolina combines one of the strongest workforces in America with a highly respected university system,” said Secretary Decker. “Red Ventures expansion is further proof that that the Carolina Comeback is well underway with the promise of hundreds of new jobs.”
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,” said CEO, Ric Elias. “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.”
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.
“Cutting taxes as part of last year’s comprehensive tax reform is already making North Carolina more attractive to employers,” said House Speaker Thom Tillis. “We welcome Red Ventures and wish them continued success here in Mecklenburg County.”
Salaries will vary by job function, but the average annual payroll for the new jobs will be nearly $28 million.
“We are committed to creating new jobs in North Carolina and welcome these new jobs to Charlotte,” said Representative Kelly Alexander. “We know that Red Ventures will find the qualified talent they need to succeed and expand their presence in North Carolina.”
The North Charlotte expansion was made possible in part by an award to Red Ventures from the state Job Development Investment Grant (JDIG) 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’re excited that Red Ventures is growing in Mecklenburg County,” said Senator Joel Ford. “Our state’s top-notch workforce and lower cost of doing business allows companies to grow their business and compete in the global marketplace.”
"I am extremely pleased that Red Ventures has chosen to expand in the great county of Mecklenburg,” said Senator Bob Rucho. “My office fully supports the expansion of businesses in our region, and I look forward to working closely with Secretary Decker and Governor McCrory on future projects.”
In addition, an estimated $1 million in additional funds from the company’s JDIG award could be added to the state’s Utility Fund for infrastructure improvements in economically distressed counties. When a JDIG is awarded to a company whose site is located in the state’s more economically prosperous counties such as Mecklenburg, 25 percent of the company’s grant is allocated to the Utility Fund to encourage economic development in less prosperous counties. For more information on the county tier designations, visit: http://www.nccommerce.com/research-publications/incentive-reports/county-tier-designations
About Red Ventures:
Red Ventures partners with some of the nation’s largest brands to optimize online marketing, analytics, and sales from initial interest in the marketplace to the final transaction. Success at Red Ventures is driven by proprietary technology and the company’s greatest competitive advantage: its people. For more information about Red Ventures including job opportunities, http://www.redventures.com/careers.html.