Alabama's total incentive package to land Toyota and Mazda's new USA factory will top at least $700 million after local incentives are added. Starting in 2021, Toyota will be building its Corolla there, while Mazda will produce a new crossover, yet to be named. The site for the new plant is in Huntsville, located approximately 14 miles from Toyota's Alabama plant (Toyota Motor Manufacturing, Alabama, Inc.).
The three states will be making their best efforts to market their plans to Toyota, Mazda and potential and current suppliers, as reported by the Daily Journal's Dennis Seid.
Alabama's offer was valued at $380 million, but did not include the value of local property tax exemptions or the value of more than 1,200 acres of donated land for the site, which Louisiana Economic Development Secretary Don Pierson said makes Alabama's package comparable to Louisiana. It produces most of the cars and trucks it sells in the U.S.at those US plants and exports some of those cars to other markets.
The state of Alabama is the fifth largest producer of cars and light trucks nationally, with a strong automotive manufacturing presence.
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He accused Iran of committing "multiple violations" and promised to work with Congress to "address the deal's many serious flaws". European countries are banking on the deal, as many began investing in Iran after the sanctions were lifted.
"The partnership between Mazda and Toyota will expand innovative automotive manufacturing in Alabama", said Gov. Kay Ivey.
"It was especially exciting to see both new and existing companies make investments and announce projects that will position the state as an important location in the global auto industry for years to come".
Limestone County is preparing a mega site for the estimated $1.6 billion plant. The facility is expected to create up to 4,000 jobs and production is expected to begin by 2021.
Other key announcements included an $85 million expansion for Honda, the first of a multi-phase project to improve vehicle manufacturing flexibility, strengthen the logistic efficiency for future models and prepare for future technologies. With the nation's most productive manufacturing workforce and No. 1 state workforce training program, Louisiana can make a compelling case for new investment.