CHARLESTON, SC (WCSC) - Berkeley County leaders, Volvo officials and South Carolina Governor Nikki Haley will be in the Lowcountry Thursday to discuss the future of the Berkeley County plant.
A big list of names will lead the 1 pm press conference including: Volvo's North American CEO, Lex Kerssemakers, Senior Vice President of Purchasing and Manufacturing Volvo cars Lars Wrebo and Governor Nikki Haley.
It will be held in West Ashley, at Founders Hall on Old Towne Road.
Volvo will discuss its decision to build its first ever car plant in North America, and what this long term investment means for the workers and communities in Berkeley County.
On Wednesday, Berkeley County voted to that Volvo will not have to pay property taxes, but will have to pay an annual fee to the county.
That contract will be signed Thursday by Volvo leaders and state officials.
The county has not yet revealed what benefits they're giving to Volvo as part of the deal.
The $500 million investment is expected to create up to 2,000 jobs in the next decade and 4,000 jobs by the year 2030.
The groundbreaking on first ever car plant in the United States is expected in the fall and the first cars could come off the assembly line in 2018.
The plant is expected to initially produce up to 100,000 cars per year.
Officials estimate an annual economic impact of about$ 4.8 billion from the Volvo plant.
It will be built at Commerce Hill Park near Ridgeville.
Once completed, Volvo Cars will manufacture vehicles on three continents, including Europe, North America and China.