The Greenville Area Development Corp. today confirmed reports that Volvo Cars USA is seeking a fee-in-lieu-of-taxes agreement to invest more than $42 million in a tooling facility.

The GADC said in a statement that Volvo Cars USA does not intend to build a new facility but will invest in the work of an existing business.

“In the automotive industry, strategic investments are often made by brands such as Volvo Cars USA with select suppliers to have certain work, such as tooling or mold preparation, done at the facilities of those partners,” the statement said. “Such is the case in this pending agreement with Greenville County.”

The proposed FILOT agreement is on the Greenville County Council agenda for their meeting today at 6 p.m.

“Ultimate decisions on staffing and job creation will be made by the partners at the chosen locations where Volvo Cars USA’s investment in equipment and site preparations will take place,” the statement said. “… The agreement calls for the company to invest at least $35 million in the county over five years.”

Potential sites listed in county documents by Volvo Cars USA include 120 Moon Acres Road in Piedmont and 800 Woodside Ave. in Fountain Inn. The Piedmont address is home to Magna, an industrial machinery manufacturer that works with Volvo already, while the Fountain Inn address is home to Wirthwein, an international plastic injection molding service company.

The GADC was established by the County Council to promote and enhance economic growth in Greenville County.

Reach Ross Norton at 864-720-1222.

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