Volvo Trucks will add 777 new jobs at its Pulaski County plant over the next six years, according to a report in the Roanoke Times.
The jobs are the result of a $400 million project that will upgrade and expand the company’s existing plant and also build a new 350,000-square-foot facility designed for welding truck cabs.
The project is being heralded as one of the biggest capital investments in the history of southwest Virginia.
The company considered sites outside of Virginia, but ultimately decided to stay in the region. In return, Volvo will be eligible for an incentive package up to $16.5 million over the next 10 years, though the incentives are contingent on reaching the promised hiring and investment milestones.
Gov. Ralph Northam praised the investment in a press release, saying the company’s decision “not only recognizes the strength of our manufacturing sector, but also reflects the skill of our workers, the quality of life in rural Virginia, and the competitiveness of our business climate.”
Northam also said he was confident that the expansion would “solidify Volvo’s presence in Pulaski County for decades to come.”
At the same time, the company also announced it expects to lay off some employees at its Dublin plant by the end of 2019.
The Roanoke Times reports that the company expects demand for trucks to slow down next year and the layoffs are meant to align the workforce with those trends.
There are currently 3,500 employees at the Dublin plant, which is more than double the number there were in January 2017.
That number will now drop, though company spokesman John Mies told the Roanoke Times that it’s unclear how many jobs will be cut by the region’s largest employer.
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