Have you heard the news? Vietnamese automaker Vinfast has signed a preliminary deal to invest $4 billion in a new Chatham County factory complex. The plant will make sport utility vehicles, electric buses, as well as batteries for electric vehicles. Construction will begin this year with a completion date of July 2024. The investment is expected to create about 7,500 new jobs in the area.
The Local Impact
While it’s hard to know the precise impact that Vinfast might have on the Chatham County community, we can look to similar case studies for clues. When BMW announced they were building a new assembly plant in Spartanville, SC, many were skeptical that the automaker could attract the workforce necessary for success. Two decades later, BMW now employs more than 10,000 workers at its Spartanville plant. We may see a similar transformation in our own backyard!
The Vinfast factory complex will be built in Moncure, a sleepy corner of Chatham County that’s known for its great schools and low cost of living. It may soon well be North Carolina’s next boomtown.
What Home Buyers Should Know
Home buyers throughout the state have seen the real estate market explode over the last several years. This new factory will only further drive interest and investments across Chatham County. If you’ve been thinking of buying a new home in the area, there’s never been a better time. While the market may seem hot today, competition for quality homes will only continue to heat up. By investing in a new Chatham County home now, you’ll set yourself up for a long and potentially very lucrative future in a blossoming community.
Chatham County has long been North Carolina’s best kept secret. It’s no wonder Vinfast sees so much potential in our region! If you’re eager to build your dream home in Chatham County, allow our team to help. Lisa Skumpija knows Chatham like the back of her hand – in this competitive market, you’ll want her expertise on your side!