Volvo Cars announced that it is investing an additional $520 million in its Berkeley County operations and creating 1,910 new jobs. This new commitment adds to the company's initial 2015 announcement and brings the collective total to more than $1 billion in investment and 3,900 jobs, respectively.
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.
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.
Next month, the S.C. Department of Commerce is planning to 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.
Firms interested in potential supplier opportunities with Volvo Cars' Berkeley County facility should visit S.C. Commerce's website and fill out the online supplier information form or contact VolvoCarsSC@SCcommerce.com with any questions.
For more information on Volvo Car USA, visit the company's website.
QUOTES
"Today's announcement not only underscores Volvo's commitment to the United States, but also our commitment to South Carolina. This now brings our total investment to more than $1 billion dollars and adds nearly 2,000 jobs." -Lex Kerssemakers, President and CEO of Volvo Cars of North America
"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. 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." -Gov. Henry McMaster
"Two years ago, we were excited when Volvo Cars selected South Carolina for its first American manufacturing facility. And, today, we're even more excited as they announce this new investment. We're proud that, before a single car has rolled of 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." -Secretary of Commerce Bobby Hitt
"The expansion of Volvo Cars in South Carolina is exciting news for our Port and state. 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." -S.C. Ports Authority President and CEO Jim Newsome
"Volvo Cars is on the verge of producing vehicles in Berkeley County and already investing more. This speaks to the vibrancy of our county. We're thankful Volvo Cars believed in us more than two years ago and are honored they're strengthening and growing their commitment here. Berkeley County is blessed with the strong relationship we have with Volvo Cars, and we are excited for the impact the manufacturing facility will have on Berkeley County, South Carolina and the United States." -Berkeley County Supervisor Bill Peagler
FIVE FAST FACTS
- Volvo Cars is investing an additional $520 million in its Berkeley County operations and creating 1,910 new jobs.
- This investment will allow the company to increase its manufacturing capacity and construct a new office facility.
- This new commitment adds to the company's initial 2015 announcement, bringing the collective total to more than $1 billion in investment and 3,900 jobs, respectively.
- In addition to being the global production home of Volvo Cars' all-new S60 sedan, the Berkeley County facility will also produce the company's next generation XC90.
- The 88,000-square-foot office facility will include a training center, which will house research and development and operations management activities, as well as a southern regional sales office.
About Volvo Car USA
Volvo Car USA, LLC, (VCUSA) is a subsidiary of Volvo Car Corporation of Gothenburg, Sweden. VCUSA provides marketing, sales, parts, service, technology and training support to Volvo automobile retailers in the United States. For more information, please refer to the VCUSA media website at http://www.media.volvocars.com/us.
About S.C. Department of Commerce
As South Carolina's leading economic development agency, the Department of Commerce works to recruit new businesses and help existing business grow. Commerce has recruited world-class companies to South Carolina such as BMW, Boeing, Continental, Giti Tire, LPL Financial Holdings, Mercedes-Benz Vans, Samsung, Toray and Volvo Cars and also supports startups, small and existing business, innovation and rural development initiatives. Commerce partners with the S.C. Technical College System via readySC to support workforce training and recruiting, and with the S.C. Department of Employment and Workforce, which provides worker training and employment opportunities within the state. With a strong international footprint, since 2011, South Carolina has ranked among top three in the nation for attracting jobs through foreign investment on a per capita basis, according to IBM-Plant Location International. For more information, visit www.SCcommerce.com.