Volvo plans $38.1 million upgrade to its New River Valley plant
Volvo Group plans to invest $38.1 million in its New River Valley truck assembly facility in Pulaski County, creating 32 jobs.
The plant assembles all Volvo truck models for North America. Volvo plans to make several upgrades and build a 36,000-square-foot Volvo Trucks Customer Experience Center on the plant’s grounds.
The Virginia Economic Development Partnership (VEDP) worked with Pulaski County to secure the project for Virginia. Gov. Terry McAuliffe approved a $100,000 grant from the Commonwealth’s Opportunity Fund to assist Pulaski with the project.
The governor also approved a $2 million performance-based grant from the Virginia Investment Partnership program, an incentive available to existing Virginia companies.
The company is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Additional funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program, administered by VEDP
In 2014, more than 117,000 Volvo trucks were delivered worldwide.