by: Scott Wickersham Updated:
Red Ventures has announced it is expanding its operations in Mecklenburg County. The 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 Gov. Pat McCrory at an announcement Monday. “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, S.C., just two miles south of Charlotte.
The announcement is a major victory for Charlotte.
A few years ago Red Ventures moved its corporate headquarters out of Charlotte to South Carolina saying it could save up 2 percent because of the lower tax rate.
Since then, the Republican-led Legislature and governor pushed for and passed tax reform which is greatly reduced the corporate tax rate.
They argued it would lead to announcements like the one the Red Ventures made here in north Charlotte.
The governor and Red Ventures CEO said the tax reform definitely played a part. Red Ventures did get $3.2 million in state grant money but no local dollars.
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 an 180,000-square foot building in early June.
Salaries will vary by job function, but the average annual payroll for the new jobs will be nearly $28 million. For more information on careers at Red Venture, click here.