Hyundai gets $1.8B in aid to build electric cars in Georgia
By RUSS BYNUM
SAVANNAH, Ga. (AP) – The state of Georgia and local governments are giving Hyundai Motor Group incentives worth $1.8 billion to build electric vehicles in the state. That’s according to the signed agreement disclosed by state officials Friday.
The company announced in May that it will invest $5.5 billion in its first U.S. plant dedicated to electric vehicles near Savannah.
It’s the largest economic development deal in Georgia’s history, with a promise of creating 8,100 direct jobs.
State officials for the first time Friday disclosed tax breaks and other incentives being given to close the deal with Hyundai. The package comes to nearly $228,000 per job.
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7/22/2022 4:48:07 PM (GMT -5:00)