Business

Red Bull, Rauch partnering on 2 million square foot plant in Concord

July 13. Red Bull and filling company Rauch will partner to build a new beverage manufacturing, filling and distribution center in Cabarrus County, creating more than 400 new jobs. The two companies will invest more than $740 million in Concord by 2027.

The companies will develop a state-of-the-art campus for beverage manufacturing, can filling and distribution in 2 million square-feet in The Grounds at Concord, the old Philip Morris plant.

The NC Department of Commerce, which led the state’s recruitment efforts, said the beverage facility will have a $20.8 million annual payroll impact.

Economic impact

Over the course of the 12-year term of the JDIG grants, the economic impacts and potential reimbursement based on new tax revenues for each company are projected as follows:

—Red Bull: Grow state economy by $279 million. Potential reimbursement of $1,008,000 spread over 12 years for 90 new jobs; and

—Rauch: Grow state economy by $1.5 billion. Potential reimbursement of $3,057,000 spread over 12 years for 323 new jobs

Payments for all JDIGs only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.

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