Economic Impact | Suppliers | Philanthropy | Timeline | Resources Dedicated to the Project
The new Volkswagen production facility will invest $1 billion and provide about 2,000 jobs.- The company's $1 billion investment and state/local/federal commitment translates into:
- $511 million annual personal income growth
- $1.4 billion in total new tax revenue lifetime
- The new Volkswagen plant is expected to generate $12 billion in income growth and an additional 9,500 jobs over the life of the project.
- More than $508 million in local contracts have been awarded to date, including more than $266 million awarded by the city, state and Volkswagen to contractors and subcontractors for plant construction with another $230 million over the next 20 years. Additionally, Volkswagen has awarded contracts totaling more than $238 million on an annual turnover basis with local parts suppliers for the New Midsized Sedan to be produced in Chattanooga starting in early 2011.
- More than half of the companies involved in the project are based in Tennessee.
- More than 65 percent of bids have been awarded.
- At least 10 percent of the suppliers for the production facility will be minority and women-owned businesses by start of production.
- Five percent of suppliers for the vehicle will be minority and women-owned by start of production, with the goal of 10 percent by 2015.
- Volkswagen has committed $5.28 million to Hamilton County Schools, the University of Tennessee - Chattanooga, the University of Tennessee - Knoxville, Oak Ridge National Laboratory, Fisk University, the University of Memphis, and Tennessee State to be distributed over the next five years.
- We have committed more than $100,000 to local charities such as the Land Trust, Red Cross, March of Dimes, Urban League, and other groups.
Scroll through the timeline. Click an event for more information.
Resources Dedicated to the Project
- 279 pieces of heavy equipment have been employed in the site preparation.
- 388 people from 18 different companies (including workers from Hamilton County and the City of Chattanooga) have participated in the project.
- Over 3 million pounds of explosives were used to remove rock, so the ground could be leveled and prepared.
Quick Facts — Paint Shop "By The Numbers" (PDF)
Facts about Chattanooga (PDF)
Production Site Facts (PDF)
Green Innovations One-pager (PDF)
