Once completed, Volvo Cars will be able to manufacture vehicles on three continents. It already operates two plants in Europe and two in China. Additionally, the new U.S. plant forms part of a medium-term expansion plan to double global sales, boost market share and lift profitability. Volvo began importing cars to the U.S. in 1955. South Carolina is home to more than 250 automotive-related companies and suppliers and, as a result, leads the nation in the export of both tires and automobiles, which is Volvo chose this location was chosen.
An economic impact analysis compiled by Dr. Frank Hefner at the College of Charleston estimates that, for an initial 2,000 direct jobs, more than 8,000 total jobs would be created as a result of the Volvo production facility. Operating with 2,000 employees, the plant would contribute approximately $4.8 billion in total economic output on an annual basis.
Additionally, the development of the Camp Hall site will lead to the preservation, restoration and enhancement of more than 1,500 acres of wetlands in a critical, neighboring watershed that is a priority of Audubon South Carolina.
For more information on Volvo Cars, visit www.volvocars.com/us