Rivian Automotive, the American electric vehicle automaker and automotive technology company founded in 2009, just received US$1.5 billion in incentives to build a new plant in Georgia — no small sum for a company eager to ramp up EV production and development. According to the Georgia Department of Economic Development (GDEcD), the package will include job training support, tax credits and subsidies.
Bloomberg notes that of the US$1.5 billion, Rivian will receive US$467 million in tax credits if it creates 7,500 jobs by 2028, almost US$300 million will go into site preparation and job training, and US$700 million will come from the four counties hosting the plant. While the automaker seems confident that it will produce the promised number of jobs, Georgia’s commissioner, Pat Wilson, did clarify that there will be “protections for the taxpayer” if this benchmark is not achieved.
“In partnership with the Joint Development Authority (JDA) of Jasper County, Morgan County, Newton County, and Walton County, announced that the Economic Development Agreement has been signed by the JDA, the State of Georgia, and Rivian to move forward on the company’s [US]$5 billion Georgia project, which will create 7,500 jobs at Stanton Springs North,” read the statement from the GDEcD. “Rivian also released an updated site rendering and site plan for their carbon-conscious campus off I20, east of Atlanta. The JDA approved the agreement at a meeting on April 26.”
This project has already seem some challenges, with some Georgia residents voicing concerns over the construction of the new assembly plant. Specifically, residents seem concerned about the potential for increased traffic and environmental damage. Notably, the Rivian plant will be the biggest economic development in Georgia since World War II, and is intended to produce 400,000 vehicles per year.