Volvo Cars will build a $500 million plant in South Carolina that will eventually employ up to 4,000 people.
South Carolina Commerce Secretary Bobby Hitt said Monday morning that the state offered an incentive package worth about $150 million to attract Volvo, which Hitt said had considered five states.
Officials in Georgia had said last week their state was the other finalist and that Volvo had turned down their offer.
Hitt said most of the incentives will be for infrastructure, including a new interchange on Interstate 26 west of Charleston.
Volvo’s first American plant will be about 30 miles from the Port of Charleston. It’s expected to make about 100,000 vehicles a year, initially.
The company expects to employ about 2,000 people over the next decade, with employment eventually reaching 4,000.
SOURCE: Jack Jones