The report said Europe's largest carmaker Volkswagen AG USA, "plans to build a plant in Tennessee, resuming manufacturing in the world's largest automobile market to help end more than five years of losses in North America."
The report cited a person familiar with the decision.
It says the Volkswagen's Chattanooga plant will begin production of a mid-size sedan in early 2011.
Hamilton County officials are expected to hold a press conference later today. Gov. Phil Bredesen had cleared his schedule for today.
Earlier reports had a location in Huntsville, Ala., in the lead for the $1 billion prize.
But Hamilton County officials, who have worked tirelessly for the project, had remained optimistic.
Some 2,000 jobs are expected to be at the facility, which would be at Enterprise South at Tyner.
The Volkswagen AG board was meeting in Germany on the decision today.
It will be Volkswagen's first in the U.S. since the late 1980s.
Plans for the facility were boosted by the continued decline of the dollar against the euro.
The report said the new model will be priced in between the Jetta
and Passat sedans. According to it Chattanooga won Volkswagen's contract because of better infrastructure and more attractive tax incentives and tax breaks.
Source: Reported by sonof2ravens of Live Journal
