New Toyota-Mazda Plant Will Get $700 Million in Incentives From Alabama

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.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 yearsAlabama'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.  Continue reading...