ASHEVILLE, N.C. (AP) — The Buncombe County Board of Commissioners has approved the purchase of the former Volvo plant in Skyland for $7 million.
The Asheville Citizen-Times reported Wednesday that the acquisition is intended to help lure a new manufacturer to replace the Volvo Construction Equipment plant that closed last year. The facility sits on 65 acres overlooking Lake Julian.
The state Department of Commerce had valued the property at more than $10 million.
Gov. Bev Perdue said in Asheville last week that she hopes to soon make an economic development announcement about a new occupant for the plant.