Loans to Hagerstown Volvo Create 100+ Jobs


HAGERSTOWN, Md. - Washington County had a special guest all the way from Sweden. He's the president and CEO of Volvo Group, who joined county and state officials on a major announcement that's expected to boost job growth.

"We continue to drive this factory to be one of the most modern efficient engine and transmission factories in the world, and we in Volvo Group put a lot of effort into this factory," said President and CEO Olof Persson of Volvo Group.

Many shared in the excitement of a $4 million loan approved by the Maryland Department of Business and Economic Development. Washington County has also approved a $200,000 conditional loan, both of which will create more than 100 jobs in Washington County, officials with Volvo Group say.

"We're very excited to meet someone of his status. Washington County is unbelievably honored for him to come here and what Volvo is doing here in terms of jobs," said Terry Baker of Washington County Commissioners.

"The $400 million loan from the state and the $200,000 loan from the county. It has been a fantastic partnership for the past couple of years," said Belinda Vinson of Volvo Group.

Persson said at the end of the day it's all about working as a team.

Representatives of Volvo say they look forward to increasing the number of workers at their Hagerstown site. 

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