RIDGEVILLE, SC (WCSC) - Volvo Cars announced Monday that it is investing an additional $520 million in its Berkeley County operations and creating 1,910 new jobs.
"That is what is going to lead to more and more economic growth and prosperity for South Carolina...greater than anything we've seen before," Gov. Henry McMaster said.
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.
"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," McMaster said."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."
This expansion now makes Volvo the largest project in the state, according to Congressman James Clyburn.
"We are talking about, directly and indirectly, about 20,000 jobs being created by this investment," Clyburn said.
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.
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.
This comes after Volvo announced they are planning to expand ahead of the plant opening.
Volvo officials say the plant is scheduled to open late 2018.
Leaders say we can expect to see the XC90 SUV starting to be produced by 2021.
"That is going to do nothing but go up with the culmination of this project over the next few years. And once that's up -- oh, we're just off to the races," said S.C. Secretary of Commerce Robert Hitt.
"There's a scripture that says you have to keep your lamps trimmed and burning so you can be ready when the bridegroom comes. Well, the bridegroom walked up in Volvo," Clyburn said.