Volkswagen Group of America Announces It Will Produce Cars in Chattanooga; Decision Marks Company’s Ongoing Commitment to North American Market
Company will invest $1 billion and bring about 2,000 direct jobs to tri-state area
The announcement punctuates observations made below about Maryland, workforce and CNBC’s “Top States for Business.” According to CNBC’s ratings, although Tennessee was 21st overall in state ratings, when it came to workforce, it ranked an admirable No. 5.
Yes, of course, means more than it just being a right-to-work state. As Stefan Jacoby, President and CEO of Volkswagen Group of America, commented: “This area has a deep base of well-trained labor, with excellent engineering and manufacturing programs at the universities and technical colleges.”
Volkswagen includes the plant as a major step in its business strategy for the “dollar region.” We interpret that as saying the exchange rates, dollar vs. Euro, make it smart to build facilities in the United States.
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