Volvo promises to invest $1B in South Carolina by 2030

Published: Oct. 2, 2015 at 10:17 AM EDT
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RIDGEVILLE, S.C. (AP) - Volvo has promised to create 4,000 jobs and invest $1 billion at its Berkeley County automobile plant by 2030, according to the company's contract with South Carolina officials.

Having obtained the contract through a Freedom of Information Act request, The State newspaper ( ) reports that the car company is promising 2,000 jobs in its first phase, by Dec. 31, 2023. In return, the company will get more than $200 million in incentives from the state, Berkeley County and the state-owned Santee Cooper utility.

Volvo broke ground at the facility near Ridgeville on Sept. 25. The facility is the company's first auto manufacturing plant in North America.

The company expects to begin hiring in late 2017 and aims to produce its first cars in 2018.

Information from: The State,

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