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Subsidy Tracker Individual Entry

Company: Gotion
Parent Company: Volkswagen
Subsidy Source: multiple
Location: Illinois
City: Manteno
County: Kankakee
Project Description: Electric vehicle battery plant
Year: 2023
Major Industry of Parent: motor vehicles
Specific Industry of Parent: motor vehicles
Subsidy Value: $536,000,000
Subsidy Value in 2023 Dollars: $536,000,000
Program Name: multiple
Awarding Agency: multiple
Type of Subsidy: 
MEGADEAL

Number of Jobs or Training Slots: 2,600
Wage Data: $55,000
Wage Data Type: Average annual wages
Capital Investment: $2,000,000,000
Source of Data: Press Release: "Gov. Pritzker and Gotion Announce New $2 Billion Electric Vehicle Battery Gigafactory in Kankakee County," September 8, 2023: (click here). Jeremy Gorner, September 11, 2023, "Lured by $500 million in state incentives, Chinese firm plans $2 billion electric vehicle battery plant in Manteno," Chicago Tribune via LexisNexis.
Notes: Gotion is building a lithium-ion EV battery plant in Manteno with an expected capacity of 50 GWh. The subsidy package consists of $213 million in withheld employee income taxes over 30 years through the state's Reimagining Energy and Vehicles (REV) program and a $125 million grant from the Invest in Illinois Fund. The remaining $198 million includes funding for a new training academy and workforce development grants, a 5-year sales tax exemption on construction materials, and a 10-year sales tax exemption on utility purchases. The company also received a 30-year local property tax abatement of undisclosed value. Jobs and investment data based on company announcement. The REV and Invest in Illinois programs require recipients to pay average annual wages equal to 120% what full-time workers in the same occupation group and county are already making, which the company estimates will be $55,000 a year in Kankakee County. Overlaps with main data: a 2023 $213,325,495 REV entry.
Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.