Company: Rivian Parent Company: Rivian Automotive Inc. Subsidy Source: multiple Location: Georgia City: Stanton Springs Project Description: EV manufacturing plant Year: 2022 Major Industry of Parent: motor vehicles Specific Industry of Parent: electric vehicles Subsidy Value: $1,476,899,999 Program Name: multiple Awarding Agency: multiple Type of Subsidy:
Number of Jobs or Training Slots: 7,500 Wage Data: $56,000 Wage Data Type: average salary Capital Investment: $5,000,000,000 Source of Data: The package details are taken from: Erin Schilling, "Why Rivian's latest numbers prove Georgia's record, $1.5B incentive plan isn't a sure bet," Atlanta Business Chronicle (Georgia), May 3, 2022, via LexisNexis. The Original Rivian Offer Letter from Dec. 2021 from the Georgia Economic Development Department includes a detail breakdown of all subsidies: (click here) also posted to (click here) (scroll to the bottom of the webpage, see documents under Incentives). For the state judge decision on the local tax abatements see: Jeff Amy, "Rivian's $5 billion plant in Georgia loses lucrative property tax break after judge unexpectedly throws it out," The Associated Press and Fortune; (click here) Notes: The EV production facility is located at the East Atlanta Megasite. The state and local package includes: $111 million state grant payable to the local authority for land acquisition and preparation; $62.5 million state grant for a Quick Start Training Center and an additional $26.9 million state grant for workforce development training; $51.5 million from the Georgia Department of Transportation for road infrastructure; $24 million in free land from the Joint Development Authority of Jasper, Morgan, Newton and Walton counties; $21.3 million grant from REBA program for site development and build-out; $600,000 from Technical College System of Georgia in workforce recruitment assistance; $575,000 grant that will pay for various studies; $450,000 for two state employees responsible for the project; estimated $196.9 million in Mega Job Tax Credits; and estimated $105 million in sales tax exemptions. The total also includes a 25-year property tax abatements deal estimated at $700 million (Rivian would make $300 million PILOT payments on it), but in October 2022 a state judge found those property tax abatements unconstitutional. We still included the value of the abatement in the subsidy total. Overlaps with main data: none. Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.