Subsidy Tracker Individual Entry

Company: 
Rivian Automotive
Parent Company: 
Rivian Automotive Inc.
Subsidy Source: 
multiple
Location: 
Illinois
City: 
Normal
County: 
McLean
Address: 
100 N Mitsubishi Mtwy
Zip: 
61761
Project Description: 

electric car manufacturing facility

Year: 
2016
Major Industry of Parent: 
motor vehicles
Specific Industry of Parent: 
electric vehicles
Subsidy Value: 
$53,234,013
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
1,000
Source of Data: 

Local subsidies were taken from: Town of Normal proposed agenda for special town council meeting, December 12, 2016: https://www.normal.org/ArchiveCenter/ViewFile/Item/2258; see also: Minutes of the Special Meeting of The Normal Town Council, December 12, 2016: https://www.normal.org/ArchiveCenter/ViewFile/Item/2271. State subsidies based on : EDGR Tax Credit Agreement with Rivian Automotive, LLC, December 29, 2016: https://www2.illinois.gov/dceo/ExpandRelocate/Incentives/EDGE_Agreements.... Ravian statement regarding city grant: https://bloximages.chicago2.vip.townnews.com/pantagraph.com/content/tncm...

Notes: 

The subsidy package includes: $49,234,008 in state EDGE tax credits, paid over 15 years; $4 million in 5-year 100 percent property tax abatements from the city; local waiver of all permit and development fees; the city also agreed to provide services to the company such as landscaping, show removal, and security. Normal also agreed to provide the company with a $1 million cash grant, paid after the company invests $20 million. In April 2020, the company said that it will not be seeking the grant (thus we do not add this grant to the subsidy total). The city ordinance mentions that Economic Development Council of the Bloomington-Normal Area asked other taxing jurisdictions to offer tax abatements; however, no information on those awards was readily available. The state EDGE agreement blacked out the amount of company investment. Overlaps with main Subsidy Tracker data: none.

Source Notes: 
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