Volkswagen announced this week that Graycor Construction will build its North American manufacturing plant in Chattanooga, Tenn., under terms of a $63 million contract.
Graycor, based in Chicago, will build the assembly and body shops, technical center and a social area at the facility, which is scheduled to open in 2011.
The plant is said to be valued at $1 billion and will be north of Chattanooga's downtown area.
VW said 60 percent of the work will be done by local subcontractors, which will give a boost to the area's economy.
2 comments:
I was actually just wondering this week if this project was still a go. Interesting.
Volkswagen’s arrival in Chattanooga could mean the region’s real estate market will be shielded from further harm by the national housing crisis and economic slowdown, Realtors and builders say.
“With new opportunities for development coming up, it will help reduce short-term inventory” said Jason Farmer, former president of the Chattanooga Association of Realtors. “It really changes the game in Chattanooga.”
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