DUBLIN, Va. — The Pulaski County, Virginia, Industrial Development Authority (IDA), in concert with the board of supervisors last month officially conveyed 49 acres to Volvo Trucks as part of a performance agreement following the company's commitment to invest $38.1 million to construct a new 36,000-square-foot customer center and several plant upgrades to improve its New River Valley (NRV) plant’s manufacturing processes, resulting in the creation of 32 new jobs.
Volvo Trucks' business case was to acquire the additional property to the southwestern portion of the plant in order to extend its 1.1-mile customer experience track.
Volvo Trucks has also entered into a lease option-to-purchase agreement for an additional 221 adjacent acres owned by the Pulaski County IDA.
The IDA has worked with Volvo executives to satisfy the county's local incentive obligation and increase opportunities for further capital investments by Volvo Trucks to take place within the county, Pulaski County Administrator Jonathan D. Sweet said in a news release.
“Working with the Pulaski County Board of Supervisors, the Industrial Development Authority and the county staff, these efforts led to the acquisition of the 49 acres and the securing of an additional 221 acres through a lease-option agreement,” said Franky Marchand, vice president and general manager of the plant. "Our investments in advanced manufacturing, upgrades in our cab and paint facility and the construction of the new customer center were all instrumental in facilitating this important land deal.
“One of our many competitive advantages stems from providing a unique customer experience here. Extending the customer experience track, our innovative products and services, and interaction with our dedicated employees, makes NRV ‘best-in-class’ for customer experience."
"Volvo's land acquisition and the option agreement on the more than 220 acres contiguous to their current operations, has the potential to be one of the most transformative investments the county has recently embarked upon," Sweet said. “The IDA's recent purchase of the adjoining property and the subsequent readying of it for Volvo's use has significant strategic value and affords our region's largest employer the ability to further enlarge operations and secure new business, both of which could have a positive yield of new jobs, new investments and new opportunities for the county and our citizens.”
This summer Volvo introduced its new Volvo VNL series within its new customer center.
This launch helped gain truck sales by bringing thousands of customers and dealers to Pulaski County, Virginia, Sweet said, adding that during those customer events, the company saw confirmation that it needed to expand the track.