In this edition of Local Matters—the Xpress weekly news podcast—reporters David Forbes and Jake Frankel discuss the recent announcement about the purchase of the former Volvo plant in South Asheville by Buncombe County as part of an incentive deal to bring the Linamar manufacturing company to the city. Hosted by News Editor Margaret Williams.
County buys Volvo plant. County sells Volvo plant to Linamar Group, a Canadian manufacturer, the following year. Asheville gives Linamar $2.2 million in incentives over four years. Buncombe puts up $6.8 million in incentives. North Carolina pitches in $9 million. The hoped-for results? Almost 400 jobs for the Asheville-Buncombe area that pay, on average, more than $39,000 a year.
Governor Bev Perdue announces Linamar’s expansion. Photo by Jonathan Welch
The Buncombe County Board of Commissioners voted unanimously June 28 to purchase the former Volvo plant at 2169 Hendersonville Road for $7 million in taxpayer funds. In the weeks leading up to the vote, county, city and state leaders have hinted that the purchase is part of a larger, multifaceted arrangement with a private employer to take over the site. And in the hours leading up to the vote, WLOS News 13 began reporting that the employer is the Canadian-based Linamar Corporation, a large manufacturer of engines, transmissions and drive trains.
With the economy in the doldrums and real estate market in the pits, this might a great time to pick up a bargain. But for a new industrial plant? And is real estate investment the proper role of our county government?
