Rivian wins $1.5 billion tax incentive package to build an EV factory in Georgia
by Andrew J. Hawkins from The Verge - All Posts on (#5YTX0)
Brian Cassella/Chicago Tribune/Tribune News Service via Getty Images The state of Georgia offered Rivian $1.5 billion in tax incentives for the buzzy EV company to build a factory east of Atlanta, according to documents signed by the company and local officials in the state. The factory will cost $5 billion to construct, and eventually produce 400,000 electric vehicles a year. In order to receive the money, Rivian agrees to create 7,500 jobs, with an average wage of $56,000 a year, plus benefits, by the end of 2028.
Georgia officials are portraying the agreement as the largest economic development deal in the state's history. Rivian has said it will start construction of the $5 billion facility in the summer of 2022 and expects to start making vehicles there in 2024. In addition to its R1T electric...