Red Rock to Start Work on $100M, 2.6M SF Business Park in Rowan County

Red Rock Developments, a company planning a substantial business park in Rowan County, initially delayed construction citing unfavorable market conditions. However, according to the Charlotte Business Journal, the company is now prepared to proceed with the project, which has garnered significant economic incentives.

Project Overview and Phases

The business park, named Carlton Farms, will consist of six buildings spread across 2.6 million square feet. The development will be executed in three phases, with building sizes ranging from 168,000 to 1.1 million square feet.

County Incentives and Requirements

Rowan County has offered incentives to facilitate the project, including reimbursements for public infrastructure expenses amounting to $4.2 million. To qualify for these incentives, Red Rock must ensure a minimum assessed tax value of $100 million upon completion. Initially, the agreement specified a $117 million investment for the project's first phase. Additionally, the county may explore additional incentives once the $100 million assessed tax value threshold is met.

Project Location and Context

The site for Carlton Farms, previously owned by the Carlton family, is strategically situated near Exit 81 of Interstate 85. Notably, it shares proximity with Chewy's expansive fulfillment center.