Bulletin
Investor Alert

New York Markets Close in:

The Wall Street Journal Archives | Email alerts

Jan. 11, 2018, 11:14 p.m. EST

Sweet deal: Toyota, Mazda offered at least $700 million in incentives for Alabama plant

$1.6 billion factory expected to create 4,000 jobs

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Toyota Motor Corp. ADR (TM)
  • X
    Toyota Motor Corp. (7203)
  • X
    Mazda Motor Corp. (7261)

or Cancel Already have a watchlist? Log In

By Adrienne Roberts


Reuters
Cookies bearing Toyota and Mazda names are seen ahead of Wednesday’s announcement in Montgomery, Ala.

Toyota Motor Corp. and Mazda Motor Corp. were offered at least $700 million in combined incentives to steer a $1.6 billion new factory investment to northern Alabama.

The package, disclosed Thursday by various officials, includes a $379.9 million incentive from the state of Alabama and $320 million from the city of Huntsville, where the plant will be based. The two Japanese auto makers evaluated several states in 2017 for the project, which is expected to create 4,000 jobs and make up to 300,000 vehicles a year by 2021.

Tax and other incentives have come to play a major role in luring companies to hire and invest in various regions of the U.S. Toyota /zigman2/quotes/200537742/composite TM +2.66% /zigman2/quotes/203803129/delayed JP:7203 +2.29%   already has major parts-making operations in Alabama and builds cars in several U.S. assembly plants, while Mazda’s /zigman2/quotes/204777714/delayed JP:7261 -3.05%   U.S. presence is mostly confined to selling cars.

During a press conference Wednesday staged to announce details of the investment, Toyota President Akio Toyoda said Alabama officials helped lay the groundwork for “another made-in-America success story.” It is unclear if the entirety of the financial-incentive package has been disclosed.

An expanded version of this report appears on WSJ.com.

Click to Play

Can AI improve the taste of kale?

How AI and machine learning is changing the farming landscape.

Also popular on WSJ.com:

Trump administration seeks to change rules on bank lending to the poor.

MoneyGram signs deal to work wit currency startup Ripple.

/zigman2/quotes/200537742/composite
US : U.S.: NYSE
$ 128.14
+3.32 +2.66%
Volume: 128,923
Aug. 6, 2020 12:54p
P/E Ratio
9.58
Dividend Yield
2.81%
Market Cap
$174.20 billion
Rev. per Employee
$737,463
loading...
/zigman2/quotes/203803129/delayed
JP : Japan: Tokyo
¥ 6,800.00
+152.00 +2.29%
Volume: 11.37M
Aug. 6, 2020 3:00p
P/E Ratio
9.36
Dividend Yield
1.18%
Market Cap
¥18389.38 billion
Rev. per Employee
¥81.43M
loading...
/zigman2/quotes/204777714/delayed
JP : Japan: Tokyo
¥ 603.00
-19.00 -3.05%
Volume: 8.33M
Aug. 6, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥391.73 billion
Rev. per Employee
¥71.32M
loading...

Get news alerts on Toyota Motor Corp. ADR — or create your own.
This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.