GREENSBORO--The Triad took an economic leap in construction with plans for its largest office building in longer than a decade.
The new space on Piedmont Triad Parkway makes room for several divisions of Volvo.
"Volvo is obviously a large, multinational corporation. They could locate anywhere and they've chosen the Triad for their main North American presence," said Robin Team, President of Carolina Investment Properties.
The company has been collaborating with Volvo on the building's design over the last four months. The office space will be built adjacent to Volvo's Greensboro location.
"It gives them an opportunity to put a lot of people under one roof. It gives them some new facilities that they can use for testing and showcasing of their product," said Team.
Plans include a new three-story, 123,000 square foot facility.
"I look at it as the Triad, and we develop all over the Triad and so for our region I think this is a huge vote of confidence," said Team.
Loren Hill, president of the High Point Economic Development Corporation said business interest has been making a comeback in the area.
"The last 18 months have been the busiest I've seen in my 12 years on the job, so this is just another indication of some pent up demand," said Hill.
Construction should begin in the next 30 days. The project is expected to cost around $14 million and should be finished within a year.