Jobs Update

GROUNDBREAKING @ VOLVO

Volvo Group North America announced on February 21 a $41 million investment in Greensboro and High Point to purchase and expand the building housing its U.S. Uptime Center, which will also serve as the new global headquarters for Volvo Financial Services (VFS). The expansion of the building will bring about 360 VFS employees onto Volvo Group North America’s campus.

TOYOTA ANNOUNCES $2.5 BILLION EXPANSION OF NORTH CAROLINA

Plant With 350 Additional Jobs And Bev Battery Capacity

Toyota announced an additional investment of $2.5 billion in its newest North American facility, Toyota Battery Manufacturing North Carolina (TBMNC). This investment adds capacity to support battery electric vehicle (BEV) battery production and adds 350 jobs, bringing the total employment to approximately 2,100. Scheduled to begin production in 2025, the facility will produce batteries for hybrid electric vehicles (HEV) and BEVs.

“This marks another significant milestone for our company,” said Norm Bafunno, senior vice president, Unit

Manufacturing and Engineering at Toyota Motor North America. “This plant will serve a central role in Toyota’s leadership toward a fully electrified future and will help us meet our goal of carbon neutrality in our vehicles and global operations by 2035.”

In 2021, Toyota, in partnership with Toyota Tsusho, announced the new Liberty location with an initial investment of $1.29 billion for battery production and the creation of 1,750 new jobs. With today’s announcement, TBMNC’s total investment is $3.8 billion.

This is an exciting time for Toyota, the region and the many North Carolinians we will soon employ,” said Sean Suggs, TBMNC president. “This incremental investment reflects our continued commitment to ensuring jobs and future economic growth for the Triad region.”

RPM WOOD FINISHES GROUP TO MAKE $25-MILLION INVESTMENT IN R&D FACILITY

Greensboro and Guilford County have been selected as the location of the new, state-of-the-art RPM Wood Finishes Group Research, Development & Innovation Center of Excellence. The facility will occupy nearly 60,000 square feet of office and lab space at Thorndike Road creating roughly 53 new jobs paying an average wage of $70,000. The company plans to invest $25 million for this expansion. The RPM Wood Finishes Group is a division of the OEM Industrial Group.

GROUNDBREAKING @ SYNGENTA

Syngenta held a groundbreaking event on March 10, 2022, for its new North American Crop Protection Headquarters, a major capital construction project at its current location in Greensboro. Syngenta intends to construct a more than 100,000 square-foot office building to connect with its existing laboratory facility on the north side of the 70-acre campus. The new workspaces will support about 650 employees and 100 contract workers. The entire project is expected to be completed in 2024.

MANUFACTURING -84%

SPECIALIZED BUSINESS - 1%

N/A - 10%

AVIATION - 5% LIFE SCIENCE - 4%

SUPPLY CHAIN - 2%