FLORENCE, S.C. (AP) -- Otis Elevator said Friday that it will spend $40 million to open a plant in Florence, S.C.
The company, which is a unit of United Technologies Corp., said that it will hire 360 people over the next five years. A company spokeswoman said hiring will begin by the end of the year.
The company plans to build a new model of its elevators at the plant. It also plans to build a 150-foot tower to test its elevators.
Spokeswoman Michele Batty said the average wage for employees in Florence will be $25 per hour.
The plant will be in an industrial park the Florence County shares with neighboring Williamsburg County.
Shares of United Technologies fell 39 cents to $75.22 in morning trading.
