Volvo set to invest further in South Carolina with $42 million agreement
September 22, 2022
Volvo Cars USA received initial approval earlier this week at a Greenville County Council meeting to further invest $42 million in existing South Carolina businesses that supply the company.
The council members unanimously approved the initial fee-in-lieu-of-tax agreement with Volvo. A final vote will occur at a future meeting.
Volvo is committing to bolster existing Greenville County manufacturers. These include Magna in Piedmont, which currently provides industrial machinery for Volvo, and Fountain Inn’s Wirthwein, an international plastic injection molding service company, according to early news reports. The new agreement would give the existing sites at least $35 million between them over the next five years.
Volvo is already a key player in South Carolina’s automotive industry with its Ridgeville, South Carolina, plant built in 2015. That site employs close to 1,500 workers, sits on 1,600 acres and includes a 2.3 million-square-foot facility.
