Toyota, Mazda to build $1.6 billion plant in Alabama
13 January, 2018, 02:14 | Author: Diane Mills
"Last year was an exciting and successful time for MBUSI - the celebration of 20 years of production in Alabama and we got our first glimpse of what's to come in the future with the announcement of an additional $1 billion investment in our plant".
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.
In all, the new investment in the state is expected to create more than 600 jobs and upgrade a plant that the company already describes as one of the world's "smartest" manufacturing facilities.
Governor Kay Ivey has hinted at revealing big news at Tuesday night's State of the State Address. "Thank you for believing in the potential of our people in the great state of Alabama".
"Starting from 2021, I'm confident that we will run a highly competitive plant, by bringing together the expertise of Toyota and Mazda as well as the excellent Alabama workforce. Welcome to sweet home Alabama".
The Huntsville City Council on Thursday approved a $320 million local incentive package for the factory.
The new plant will be located in Huntsville about 14 miles from Toyota's plant. The state's factories are also not unionized - a factor that seems to appeal to foreign automakers. To entice manufacturers, Southern states have used a combination of lucrative incentive packages, low-priced labor and a pro-business labor environment since the United Auto Workers union is stronger in Northern states. The state produced 9 percent of the cars made in the US, the center said. The Korean automaker opened a plant near Montgomery in 2002 that makes the Elantra compact vehicle, Sonata mid-sized sedan, the Santa Fe crossover, and 4-cylinder engines.
"We look forward to watching the same success story unfold for Toyota-Mazda."
Toyota will use the plant to build its best-selling compact auto, the Corolla, while Mazda will use it to build a new crossover vehicle.
The sheer cost of the plant also makes a partnership logical, as it boosts cost-efficiency and economies of scale.
Alabama started on the road to becoming an auto manufacturing hub in 1993 when Mercedes chose it as the location for a manufacturing plant after the state offered a then-eye popping $250 million incentive package.
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