Red Rock Developments has announced plans to begin construction on a new business park in Rowan County. The project, known as Carlton Farms, will consist of six buildings totaling 2.6 million square feet and will be built in three phases.
According to the Charlotte Business Journal, Red Rock had previously delayed the project due to market conditions but is now ready to move forward. The development has received significant economic incentives from the county, including up to $4.2 million for public infrastructure reimbursements.
The first phase of Carlton Farms is expected to have a minimum assessed tax value of $100 million in order for Red Rock to receive these incentives. This initial agreement also required an investment of $117 million into the project’s first phase.
Located near Exit 81 off Interstate 85 and neighboring Chewy’s large fulfillment center, Carlton Farms sits on land owned by the Carlton family. Once completed, it is expected that this new business park will bring significant economic growth and opportunities for job creation in Rowan County.
