Wire Reports
UPDATED 3 :30 p.m.
Thursday afternoon Volvo Construction Equipment announced plans to invest $30 million to expand its manufacturing and assembly plant in Asheville.
The expansion, which was made possible in part by a state Job Development Investment Grant (JDIG), will add 264 jobs and $30 million in investment to the state.
“Volvo Construction Equipment’s decision to expand its operations in Asheville further enhances our reputation as a national leader in the automotive industry,” said Easley.
“We will continue to make the necessary investments in our infrastructure, workforce and education to ensure that our state remains a place where companies can grow and thrive."
Volvo Construction Equipment is one of the world’s largest manufacturers of construction equipment. The company opened a manufacturing facility in Asheville in 1977 and currently has 189 employees.
The expansion project for the Asheville plant is scheduled to begin in mid-2007 and will add several new production lines for tracked excavators, as well as cabs for excavators and wheel loaders. The new positions will primarily be production jobs.
While individual wages will vary by job function, the anticipated average annual salary for all of the new positions will be more than $38,000 plus benefits, which is more than the Buncombe County average annual salary of $30,160, not including benefits.
Volvo Construction Equipment is a subsidiary of the Volvo Group, a publicly-held company headquartered in Sweden. The Volvo Group employs about 81,000 people worldwide at production facilities in 25 countries and had annual sales of $31 billion in 2005.
“We are delighted with the decision to bring the production of Volvo excavator and equipment cabs to the Asheville plant, a facility that utilizes the talents and expertise of the best people in the industry,” said Dave Million, vice president and general manager of Volvo Construction Equipment. “We have enjoyed the support of Asheville for many years and we look forward to continuing growth and to further contributing to our community.” (more…)
Raleigh, NC
