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Incentives for Toyota-Mazda plant in Alabama

Incentives for Toyota-Mazda plant in 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 USA factory.

The State of Alabama is the fifth largest producer of cars and light trucks nationally with a strong automotive manufacturing presence including Toyota's engine plant in Huntsville, where Toyota employs 1,400 team members.

The Huntsville City Council on Thursday approved a $320 million local incentive package.

President Trump praised the decision and congratulated the state late Wednesday.

The two Japanese automakers plan to produce up to 300,000 vehicles a year at the joint-venture $1.6-billion plant once it opens in 2021.

"Alabama was more equipped for this plant as it already has others".

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.

"Being here today feels like a homecoming for Toyota and me personally", said Toyota President Akio Toyoda at a ceremony to announce the new plant.

Incentives for Toyota-Mazda plant in Alabama

Toyota will use the plant for the next-generation Corolla, while Mazda will use it for an unnamed SUV.

State officials were all smiles.

The plant will have the capacity to build 300,000 vehicles annually, with production split evenly between the two automakers.

"Thank you for choosing Alabama", said Gov. Kay Ivey at the ceremony. "Thank for not only investing in our great state, but in our people". That is in addition to $380 million announced by the state in tax abatements, investment rebates and the construction of a worker training facility.

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

"Not only that, it's really hard to measure the positive impact that having companies create career opportunities like this and how that transforms families", Canfield said. "It's 4% of their new payroll".

Multiple states had competed for the project by the Japanese auto giants.

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