Maxis Advisors was pleased to have Prime Beverage Group announce its location decision to Kannapolis, North Carolina. Prime Beverage Group, a new contract beverage manufacturer, will create 231 new jobs in Cabarrus County by establishing its first manufacturing facility at 1858 Kannapolis Parkway. Both Kannapolis City Council and Cabarrus County Commissioners approved five-year performance-based economic development grants for the project. The combined total local grant amount is estimated to be $2,539,192 over five years.
Maxis first met with the leadership at Prime Beverage Group in early 2019 to discuss their new co-packing operation. After many months of planning and searching, Prime Beverage found their ideal location and community in the City of Kannapolis.
“I can’t say enough about all of the partners who made this deal happen. This project was approved by all the local partners and the Department of Commerce in the middle of the COVID-19 pandemic,” said Dianne Jones, Senior Manager of Client Services at Maxis. “I had concerns about pivoting to virtual public meetings and keeping meeting dates on track for approval, but not one organization missed a beat. It was really an incredible display of getting the job done.”
Prime Beverage Group is a beverage co-packing company that contracts with brand-name beverage companies to mix and package their canned drinks. Formed by beverage industry leaders, Prime Beverage will establish a full-service, state-of-the-art production facility in Kannapolis, subsequently investing $68 million into the city. The 300,000 square foot facility will include a warehouse and high-speed manufacturing lines to produce various high-quality products. With new packaging technology, Prime Beverage can fill up to 1,500 cans per minute.
“Companies of all kinds find North Carolina the ideal location to innovate new products and serve new markets,” said North Carolina Governor Roy Cooper. “Prime Beverage Group’s choice of our state showcases our readiness to overcome the impact of the pandemic and move our economy forward.”
“Prime Beverage Group is poised to lead the consumer beverages industry, and we welcome them as the newest member of our state’s manufacturing community,” said North Carolina Commerce Secretary Anthony M. Copeland. “The company’s forward-looking market strategy will find in North Carolina’s economic landscape all the ingredients necessary for success.”
“Utilizing the latest innovations in technology and high-speed equipment, Prime Beverage Group will bring much needed capacity at the highest efficiencies with the lowest cost to the co-packing market.” said Jeremy Lantz, CEO of Prime Beverage Group. “The decision to locate here in Cabarrus County is a reflection of the community of Kannapolis and the workforce that lives here and in the surrounding communities. Prime Beverage Group is excited to make Kannapolis our home.”
Among the positions Prime Beverage will add in Kannapolis are technicians, sales, operations, and managerial personnel. The average salary for the new positions could exceed $65,900, as compared to the current average annual wage in Cabarrus County of $38,892. The company expects to begin hiring in the 4th quarter of this year. Additional information will be shared once hiring details become available.
“We welcome Prime Beverage Group to their new home in the City of Kannapolis. The firm has selected a great location to do business and we look forward to assisting them as they begin operations. We are appreciative of their significant investment and the 231 good paying jobs they are bringing to our City and County,” commented Kannapolis Mayor Darrell Hinnant.
“We were first introduced to this project in Spring 2019 and have enjoyed working with the team through the location decision process,” noted Samantha Grass, Recruitment Project Manager. “We are very excited that Prime Beverage has officially selected the City of Kannapolis and Cabarrus County for their location. We look forward to them joining our community and assisting them as they grow and expand operations. We also look forward to working with Dianne and the Maxis Advisors team in the future to help locate more companies to the community.”
“We’ve created an infrastructure that supports job growth,” said Cabarrus County Board of Commissioners Chair Steve Morris. “In particular, our focus on workforce development is a long-term investment in our community. We are proud to welcome Prime Beverage Group and appreciate their recognition of these efforts.”
Prime Beverage’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by nearly $1.2 billion. Using a formula that considers the new tax revenues generated by the 231 new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $2,430,000 spread over 12 years. State payments 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.
Because Prime Beverage chose to locate in Cabarrus County, classified by the state’s economic tier system as Tier 3, the company’s JDIG agreement also calls for moving as much as $810,000 into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business. Even when new jobs are created in a Tier 3 county such as Cabarrus, the new tax revenue generated through JDIG grants helps more economically challenged communities elsewhere in the state. More information on the state’s economic tier designations is available here.
“Congratulations to Prime Beverage Group on its excellent choice of Cabarrus County for its new operations,” said N.C. Senator Paul Newton. “I look forward to watching this growing company find a home here and look forward to supporting their ongoing success.”
“Prime Beverage has made a great choice, and I appreciate the new jobs and investment dollars they’re bringing here,” said N.C. Representative Kristin Baker. “I commend the hard work of our economic development team in securing this exciting opportunity for the people of Cabarrus County.”
The building that Prime Beverage has located in is owned by and entity affiliated with Gene Haas, who owns Stewart-Haas Racing, also in Kannapolis. The building was developed by Triliad Development, Inc., which has developed several other buildings for Haas. Foundry Commercial’s Warren Snowdon and Lane Holbert handled the leasing for the property. The North Carolina Department of Commerce worked closely with the Economic Development Partnership of North Carolina in leading a collaborative state effort to support the company’s expansion. Other key partners in the project include the North Carolina General Assembly, North Carolina Community College System, Rowan-Cabarrus Community College, Cabarrus County, Cabarrus Economic Development, the City of Kannapolis, and Duke Energy.
“We are excited to welcome Prime Beverage to Kannapolis. They are a great fit for our community and we look forward to having them grow their business here. It was great having Dianne Jones from Maxis aid in the location process,” said Irene Sacks, City of Kannapolis Director of Economic & Community Development.
Dianne went on to say, “This project was one whereby good things do come to those who wait. Prime Beverage took their time and made decisions with the best business case in mind. It was truly a pleasure to work with them on this exciting opportunity. I’ll never pop a top on a can the same again!”
Based in Charlotte, N.C., Maxis Advisors is a highly-skilled site selection and negotiated incentives company that helps clients in various industries including manufacturing, logistics, technology, financial, and real estate development to maximize opportunities. For more than 20 years, Maxis Advisors has built a strong reputation serving clients, working in over 40 states, and helping companies grow through projects resulting in more than $10 billion in capital investment and 9,500 jobs.
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