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Lego to invest $1 billion in Virginia to create 1760 new jobs
https://www.whatjobs.com/news/business-news/lego-to-invest-1-billion-in-virginia-to-create-1760-new-jobs
By Nithya Bose in Business News, posted June 16, 2022
Toymaker Lego will invest more than $1 billion to build a manufacturing plant in Chesterfield County, Virginia, creating more than 1,760 new jobs.
The business intends to simplify its supply chains and meet the rising demand for its colorful plastic bricks in one of its most important areas.
Meadowville Technology Park has been chosen as the location for the new facility, which will have a total size of 1.7 million-square-foot and will be operational in the second half of 2025.
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COO Carsten Rasmussen said: “Our strategy to be close to our core markets has only been confirmed recently.”
"The toy industry has huge seasonal swings, and more than half of the company's products in stores are new.
"It’s difficult to predict what children and adults want to buy for a birthday or for Christmas.
"So the reaction time is very worthwhile to make sure we have the right products on the shelves.”
Following the announcement of a new facility in Vietnam last year, the factory in Chesterfield County, Virginia, will be the Danish company's second in North America and seventh worldwide.
The investment is in keeping with the company's decade-old policy of locating manufacturing near important markets, which it claims has proved useful as the global retail industry deals with pandemic-related supply chain difficulties. In addition, the facility will be carbon neutral.
The company said that the plant will be fueled by sustainable energy generated by an on-site solar park.
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By the end of the decade, Lego plans to replace oil-based plastic bricks with those created from renewable resources.
In the United States, where it has 100 outlets, the firm today employs over 2,600 employees.
Lego makes over 100 billion bricks every year and employs approximately 24,000 people globally.
WHAT IS LEGO?
Lego engages in the development, production, marketing, and sale of play materials.
Where it is headquartered? The company is headquartered in Billund, Denmark.
How many staff does it have? It currently has around 20,468 employees.
What is its annual revenue? The annual revenue is around $6 Billion.
Source: The New York Post
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