Electric carmaker Rivian will receive $1.5 billion in state and local incentives and tax credits for a new assembly plant in Georgia, both the state and the company announced.
The project worth $5 billion is expected to employ some 7,500 workers. This is the biggest incentive package Georgia has ever offered to a company.
Now Georgia will be “at the forefront of the electric vehicle revolution,” noted Georgia’s economic development commissioner Pat Wilson.
Rivian has until the end of 2028 to meet both jobs and investment targets to get the full amount of incentives and tax savings.
The company plans to open the plant late 2024, pending permit applications and approvals. The plant will include a battery cell production site.
This would be Rivian’s second U.S. assembly plant in the U.S. The automaker also operates a plant in Normal, Illinois, manufacturing R1T electric pickups, R1S electric SUVs, and electric vans.
According to the Georgia’s Department of Economic Development workers will receive an average annual salary of $56,000.
The EV manufacturer, which is 20% owned by Amazon, has struggled amid supply chain constraints, including a shortage of semiconductors, dropping its shares more than 75% since it went public last November.
