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Subsidy Tracker Individual Entry

Company: Toyota
Parent Company: Toyota
Subsidy Source: multiple
Location: North Carolina
City: Greensboro
County: Randolph
Project Description: EV battery production
Year: 2021
Major Industry of Parent: motor vehicles
Specific Industry of Parent: motor vehicles
Subsidy Value: $859,800,000
Program Name: multiple
Awarding Agency: multiple
Type of Subsidy: 
Number of Jobs or Training Slots: 2,100
Wage Data: $62,234
Wage Data Type: median salary
Capital Investment: $3,800,000,000
Source of Data: State infrastructure subsidies based on: Andy Warfield, "NC budget bill includes $338M for Greensboro-Randolph Megasite. Could it be for Toyota battery plant?" Triad Business Journal (Greensboro, North Carolina), November 17, 2021. Via LexisNexis. Project expansion details: Steve Doyle, "Toyota's plans for Greensboro, Randolph County just got even bigger," CBS - 9 WNCT (Greenville, North Carolina); August 31, 2022. Via LexisNexis. State subsidy breakdown: a December 6, 2021 press release from Gov. Cooper "Governor Cooper Announces Toyota Will Build Company's First North American Battery Plant in North Carolina" (click here). Local Subsidies: Paul B. Johnson, "N.C.Toyota chooses megasite for new plant," High Point Enterprise (North Carolina), December 7, 2021. Via LexisNexis. See also December 9, 2021 Randolph County Board of Commissioner minuets of meetings: (click here). Greensboro City Council special meeting on Dec. 6, 2022: (click here)
Notes: In December 2021, Toyota announced a battery manufacturing plant at the Greensboro-Randolph Megasite. In August 2022, the company announced expansion of the project (the entry's jobs and investment reflects the expansion). In November 2021, in a budget legislation the state approved $338 million for the megasite improvements for an unnamed company: $135 million for road improvements provided to NCDOT for Phase I (additional $185 million was earmarked for future site work during Phase II); $100 million for wetlands mitigation at the site, and $35 million for roadwork and wetlands mitigation within Randolph County. Toyota is also eligible for up to $315 million over 39 years from Job Development Grant for Phase I and II of the project (Phase I included $79.1 million over first 20 years). Randolph County approved 20-year grant that will reimburse the company for 60% of its annual property taxes during Phase I; during Phase II the reimbursements will equal 70% - values unknown. The county also gave the company free land, valued at about $21.8 million. Greensborough agree to connect water and sewer lines to the site for free. The entry reflects possible subsidies for Phase I and II. Overlaps with main data: a 2021 JDIG entry for Toyota for $79,107,200.
Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.