MORRISTOWN, TN—A Belgian company that makes buses and industrial vehicles will invest $47 million to build its first assembly plant here, a move expected to create nearly 640 jobs in five years.

Van Hool NV said in a news release last week that the 500,000-square-foot plant will make buses and other vehicles for U.S. transit agencies. Van Hool anticipates the facility will be operational in the first quarter of 2020.