Sonoco has announced a $1.8 billion plan to invest $1 billion in a new plant that will create 5,000 new jobs at the company’s manufacturing plant in South Carolina.
The plant is being built on the site of the former Sonoco factory in a $4.8 million deal that will pay for construction of the plant’s new manufacturing facility in Sonocos South Carolina town of Waffle Creek.
The new plant will build Sonoco’s largest plant outside of the United States, with more than 1,200 workers at the new plant.
Sonoco said the plant would employ nearly 7,000 workers and create more than 300 direct and indirect jobs.
It will employ approximately 500 workers in the plant in the next two years.
The factory, which will be constructed at a cost of $1,200 million, is expected to produce approximately 1,100,000 pounds of Sonoco products annually.
Sonocos parent company, Sonco Inc., will pay about $1 million to build the new facility.
Sonco has long maintained that its existing plants in China and Thailand are too costly to maintain and that it needs to build new facilities in the United Kingdom and elsewhere to make up for the loss of production.
Sonico announced in March that it plans to lay off about 5,400 workers and cut its workforce by half over the next three years.