Re: Democrat sucker Georgia sets $1.5B in aid for electric vehicle maker Rivian

[Biden Economics]

In article <t1504a$2qd6s$1...@news.freedyn.de>
fuck face <fuck...@queers.com> wrote:
>

Somebody is lying.

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Associated Press | AP
May 2nd, 2022
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The state of Georgia and local governments will give Rivian
Automotive $1.5 billion of incentives to built a 7,500-job, $5
billion electric vehicle plant east of Atlanta, according to
documents the company and state signed Monday.

That would be, by far, the largest incentive package Georgia has
ever offered to a company and would be the 15th largest
incentive package any American state has ever given a private
entity according to Good Jobs First, a group critical of
subsidies to private companies.

Georgia Economic Development Commissioner Pat Wilson says the
size of the package reflects the size of the largest single
industrial announcement in Georgia history, including a pledge
that the company will reach the full investment and job targets
by the end of 2028, with jobs paying an average of $56,000 a
year, plus benefits.

“It’s absolutely appropriate because they’re creating more
jobs,” Wilson said.

Rivian, based in Irvine, California, is a startup manufacturer
of electric trucks and commercial delivery vans, challenging
both established automakers like Ford and General Motors and
electric vehicle leader Tesla. The company is already producing
vehicles in Normal, Illinois. Rivian hopes to break ground as
early as this summer and begin production in 2024, sprinting
toward producing 400,000 vehicles a year in Georgia as electric
vehicle makers try to gain market share.

The plant has been beset by fierce local opposition, though,
from residents who say development on the 2,000-acre (800-
hectare) site will spoil their rural quality of life.

The site, between Social Circle and Rutledge, is about 45 miles
(70 kilometers) east of downtown Atlanta, in an area just beyond
the frontier of intensive suburban development.

The state took over planning and zoning for the project after
opponents overwhelmed Morgan County officials. Residents have
voiced concerns about possible well-water contamination, light
pollution and the disruption of wildlife habitats and farmland
for heavy industry. Wilson said a site plan and other documents
released Monday show Rivian is responding to those concerns,
shifting the plant footprint away from wetlands and agreeing to
limit light pollution.

Local governments have agreed to $700 million in property tax
breaks, although Rivian has agreed to make more than $900
million in payments in lieu of taxes over 25 years beginning in
2023.

The state would spend $200 million to buy the site, grade it,
build road improvements including a new Interstate 20
interchange and extend utilities. The state would spend $62.5
million to build a dedicated training center and a projected $27
million on providing job training.

Other major benefits include a $200 million income tax credit,
at $5,250 per job over five years. If Rivian did not owe that
much state corporate income tax, the state would give personal
income taxes collected from workers instead. Georgia also
estimates Rivian would save $175 million from a sales tax
exemption on machinery and $105 million on a sales tax exemption
on construction materials.

Kia got more than $450 million in incentives for its plant
southwest of Atlanta. Georgia has promised $300 million of
incentives to the $2.6 billion, 2,600-worker battery plant being
built by SK Innovation in Commerce, Georgia, northeast of
Atlanta.

Rivian currently plans two models for consumers: the R1T pickup
with a base price of $67,500 and the R1S SUV, with a base price
of $70,000. The truck was recently named Motor Trend’s 2022
truck of the year.

Amazon, which owns a slice of the company, has ordered 100,000
delivery vans, launching Rivian into the commercial vehicle
business.

Rivian is flush with cash following a $11.9 billion stock
offering Nov. 10 that took the company public, allowing it to
finance the new plant.

https://www.wabe.org/georgia-sets-1-5b-in-aid-for-electric-
vehicle-maker-rivian/