Volvo Investing Another $520M In Charleston South Carolina

The expansion will create 1,910 jobs and will bring Volvo Cars' investment in Charleston, SC to more than $1 billion.


https://businessfacilities.com/2017/10/volvo-investing-another-520m-charleston-south-carolina/
The expansion will create 1,910 jobs and will bring Volvo Cars' investment in Charleston, SC to more than $1 billion.
Facebooktwittergoogle_plusredditpinterestlinkedintumblrmail

Volvo Investing Another $520M In South Carolina

The expansion will create 1,910 jobs and will bring Volvo Cars' investment in Charleston, SC to more than $1 billion.

Volvo Investing Another $520M In Charleston South Carolina

Volvo Cars is investing an additional $520 million in its Berkeley County, SC operations and creating 1,910 new jobs. This expansion adds to the company’s initial 2015 announcement and brings the collective total investment at the Charleston site to more than $1 billion and 3,900 jobs.

“Today’s announcement not only underscores Volvo’s commitment to the United States, but also our commitment to South Carolina,” said Lex Kerssemakers, President and CEO of Volvo Cars of North America. “This now brings our total investment to more than $1 billion dollars and adds nearly 2,000 jobs.”

Charleston Berkeley County, SC
Volvo Cars’ South Carolina Plant Expansion. (Photo: Volvo Car USA)

“In just the past two years, Volvo Cars has proven to be an exemplary South Carolina company that is committed to our state and to its community,” said Gov. Henry McMaster. “We couldn’t be prouder that such a tremendous company has decided to invest in our people further and create more jobs for hardworking, deserving South Carolinians that we know will produce results.”

Under construction currently, Volvo Cars’ Berkeley County manufacturing plant will be the global production home of the company’s all-new S60 sedan, which is expected to roll off the assembly line next year. With this new investment, the company is planning to add an additional product line – the next generation XC90 – to its South Carolina operations in 2021.

“Two years ago, we were excited when Volvo Cars selected South Carolina for its first American manufacturing facility,” said Secretary of Commerce Bobby Hitt. “And, today, we’re even more excited as they announce this new investment. We’re proud that, before a single car has rolled off the assembly line in Berkeley County, the company has decided to increase its commitment to our state, adding a new product line to what I know will be a dynamic, state-of-the-art facility.”

Volvo’s decision to expand in South Carolina was a result of its easy access to international ports and infrastructure, a well-trained labor force, an attractive investment environment and experience in the high tech manufacturing sector.

The U.S. is the largest single market for the XC90, although a considerable amount of XC90 volume will be exported from the Port of Charleston. Total U.S. production capacity at the plant will rise to 150,000 vehicles annually.

“The expansion of Volvo Cars in South Carolina is exciting news for our Port and state,”said South Carolina Ports Authority President and CEO Jim Newsome. “Proximity to a port is important to automotive manufacturing, and SCPA values the role we will play in Volvo Cars’ international supply chain. We look forward to a long-term partnership and are committed to capably supporting their current and future growth needs.”

More than just increased manufacturing capacity, this additional investment will also support the construction of new office operations on the company’s Berkeley County site. The 88,000-square-foot office facility will include up to 300 new workers and will serve as a training center and house research and development and operations management activities, as well as a southern regional sales office.

This month, the South Carolina Department of Commerce will go before the Joint Bond Review Committee and the State Fiscal Accountability Authority to request $46 million in bonds to offset eligible items of infrastructure under the Economic Development Bond Act.

Relocating or Expanding Your Business In South Carolina

Considering South Carolina for your company’s relocation or expansion project? Check out Business Facilities’ South Carolina Incentives and Workforce Development Guide.

Suggested Links:

You Might Like:

LEAVE A REPLY