In September, Swedish automaker Volvo broke ground on its first U.S. assembly plant. Located in Ridgeville, SC, the $500 million facility will build the company’s new S-60 sedan, which is under development in Sweden. At full capacity, the factory will be capable of making 100,000 cars per year. The first car is expected to roll of the line in 2018.
Volvo estimates that the factory will employ up to 2,000 people over the next decade and up to 4,000 people in the longer term. An economic impact analysis compiled by the College of Charleston estimates that, for an initial 2,000 direct jobs, more than 8,000 total jobs will be created as a result. The plant will contribute approximately $4.8 billion in total economic output on an annual basis.