FLORENCE, S.C. (AP) — Otis Elevator says it will spend $40 million to open a plant in Florence.

A statement from the company Friday said it will hire 360 people over the next five years. A company spokeswoman says 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 says 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.

(Copyright 2011, The Associated Press)

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