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Subsidy Tracker Individual Entry

Company: Hyundai Motor Group
Parent Company: Hyundai Motor
Subsidy Source: multiple
Location: Georgia
County: Bryan
Project Description: EV manufacturing plant
Year: 2022
Major Industry of Parent: motor vehicles
Specific Industry of Parent: motor vehicles
Subsidy Value: $1,800,000,000
Program Name: multiple
Awarding Agency: multiple
Type of Subsidy: 
MEGADEAL

Number of Jobs or Training Slots: 8,100
Wage Data: $58,000
Wage Data Type: average salary
Capital Investment: $5,500,000,000
Source of Data: The subsidy breakdown was taken from: Michael E. Kanell, J. Scott Trubey and Zachary Hansen, "Hyundai incentives may top $1.8B," The Atlanta Journal-Constitution, July 23, 2022, via LexisNexis.
Notes: The state and local package includes: tax breaks ($472 million in local property tax abatements, $283.2 million in state sales tax exemptions on machinery purchases, $212.6 million in state Mega jobs tax credits); infrastructures improvements and site preparation ($200 million for road upgrades; $175.6 million for water and sewer upgrades, $50 million state grant for project development); workforce training ($62.5 million for a Quick Start training center and another $24.5 million for operations). The source article states $4.7 billion in wages over 10 years. We divided 4.7 billion by 10 years and 8,100 promised jobs for the average salary of about $58,000. Overlaps with main data: none.
Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.