Mack Trucks to move HQ to Greensboro

State officials this morning approved a grant worth up to $8.5 million to persuade Mack Trucks to move its headquarters to Greensboro from Allentown, Pa.

The company is expected to create 493 jobs paying an average of $70,000 a year, according the N.C. Department of Commerce.

To receive the money, the company also agreed to keep 1,458 jobs it already has in North Carolina.

Mack Trucks, one of the world's largest truck makers, is a subsidiary of Volvo Group of Sweden, the world's second-largest producer of heavy-duty trucks.