Toyota and Mazda Will Build $1.6B Assembly Plant in Huntsville, Alabama
- Author: Zachary Reyes Jan 13, 2018,
Jan 13, 2018, 12:50
Alabama Governor Kay Ivey and Huntsville Mayor Tommy Battle joined Mazda (TM: MZDAF) and Toyota (NYSE: TM) leaders today to announce the automakers have selected Huntsville, Alabama as the site of their new joint-venture manufacturing plant.
But they aren't alone.
To bring in Toyota and Mazda, Alabama put the bulk of its incentives into a jobs credit, worth $90.6 million over a decade, and an investment credit, good for $210 million over the same period.
Canfield said the incentives offered by the state are smarter and more sustainable since the Legislature updated the incentives law in 2015. "But we have to be super competitive".
Toyota Mississippi has 10 primary suppliers, eight of which are in Mississippi, including five in the region.
Whether they would be making vehicle parts or assembling them together. Once that happens, Alabama could become the fourth biggest state in the USA when it comes to manufacturing new vehicles. "We are proud and honored to welcome Kimber to Alabama". They'll have to bid on projects like they do now.
"We hope to work, learn and grow together with the people of Alabama and Huntsville", said Masamichi Kogai, president and CEO of Mazda Motor.
After announcing they meant to build the new plant, Toyota and Mazda officials left it up to states and cities to compete with the best incentives packages. The vehicle is also made 140 miles away in Blue Springs, Miss.
Toyota and Mazda say annual production at Huntsville will be split evenly between the two automakers.
She added, "We have not finalized plans for supplier locations at this time".
An aerial view shows the Limestone County site where Toyota and Mazda will build a $1.6 billion auto plant. "There are several careers that they can have in a manufacturing plant". It marked the sixth consecutive year that at least 300,000 Corollas were sold.
Toyota North America chief executive Jim Lentz said in an interview on Wednesday that pressure from Trump was not a factor in the decision to build the plant. In often-caustic Twitter messages, the president also criticized Ford Motor, General Motors and other automakers for building or expanding factories in Mexico, and threatened to tax any vehicles imported from south of the border. MS offered $294 million in financial incentives to recruit Toyota in 2007.
Kogai said he is glad to be able to contribute to Alabama and the United States economy. Gov. Scott Walker on Monday signed into law a $3 billion incentives package. The decision by these companies is truly a testament to our impressive, skilled workforce and our state's business-friendly environment. Despite one of the largest offers in state history, the state couldn't get around the fact that it was too far outside Toyota's existing network of parts suppliers, he said.