World News

Alabama to get $1.6-bn Mazda Toyota JV plant

Alabama to get $1.6-bn Mazda Toyota JV plant

After announcing they meant to build the new plant, Toyota and Mazda officials left it up to states and cities to compete with the best incentives packages. That is in addition to $380 million announced by the state in tax abatements, investment rebates and the construction of a worker training facility.

Also, the TVA mega site was only 1,200 acres, but the plant required an additional 1,100 acres that the community partnership had to purchase.

"If there ever was a slam dunk deal, this is a great one", Battle said.

Alabama says it is now fifth in auto production among states.

Multiple states had competed for the project by the Japanese auto giants. "We're giving them a portion of that back", Canfield said. "Alabama is already home to hundreds of our team members who build 700,000 engines per year for North American vehicles at our plant in Huntsville".

Alabama was already tied with Tennessee as the fifth-largest producer of vehicles in the USA last year, according to the Center for Automotive Research, an industry think tank in Ann Arbor, Michigan.

More news: Northam requests Virginia exemption from Trump's offshore drilling plan

Alabama, which seeks to emerge a major auto making hub in the south, will get a $1.6-billion joint venture plant by Japanese vehicle giants Toyota and Mazda that will eventually employ 4,000 people. "It vaults Alabama to the top as an industry leader in producing the next generation of cars that will power our nation".

The decision to pick Alabama is another example of a long trend of foreign-based automakers building USA factories in the South.

The jobs credit is based on the workforce, said Alabama Commerce Secretary Greg Canfield.

For Mazda, the plant comes on line in a significant year that will mark the start of the company's second century of operation and second half-century of sales in the U.S. The automaker is enhancing its commitment to the U.S. market and will focus efforts on manufacturing and increasing sales in the country. And the plant will produce $951 million in net revenue to the state after the incentives are taken into account. The new Huntsville plant will be just 14 miles (22 kilometers) from Toyota Motor Manufacturing of Alabama, which produces four-cylinder, V-6 and V-8 engines for several Toyota models.

Mazda Motor Corporation President and Chief Executive Officer Masamichi Kogai and Toyota Motor Corporation President Akio Toyoda joined Gov. Ivey and Mayor Battle for the announcement.


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