Home GRASP GRASP/Japan Alabama incentives for Toyota-Mazda factory top $700 million

Alabama incentives for Toyota-Mazda factory top $700 million

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Alabama’s total incentive package to Toyota and Mazda will top $700 million after local incentives are added to what the state offered to land the companies’ new U. S. factory. The Huntsville City Council on Thursday approved a $320 million local incentive package. That is in addition to $380
Alabama’s total incentive package to Toyota and Mazda will top $700 million after local incentives are added to what the state offered to land the companies’ new U. S. factory.
The Huntsville City Council on Thursday approved a $320 million local incentive package. That is in addition to $380 million announced by the state in tax abatements, investment rebates and the construction of a worker training facility.
Huntsville Mayor Tommy Battle said before the council vote that the joint-venture factory, which will employ about 4,000 people, will bring economic benefits to the region for generations.
“If there ever was a slam dunk deal, this is a great one,” Battle said.
The city’s offer to the Japanese auto manufacturers included providing the land, building a road to the factory and property tax abatements worth $107 million over 20 years
Alabama’s commerce department had announced only the state’s share of incentives Wednesday when company executives announced the decision to come to Alabama.
The new plant in Huntsville – already a hub for the region’s budding aerospace industry – will produce 300,000 vehicles per year, a combination of the Toyota Corolla compact car and a new small crossover SUV from Mazda. Production is targeted to begin by 2021.

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