Stock Market News
Rivian to receive $1.5 billion incentive package for new Georgia assembly plant
2022.05.03 00:32
FILE PHOTO: The logo of startup Rivian Automotive’s is seen at the electric vehicle factory in Normal, Illinois, U.S. April 11, 2022. Picture taken April 11, 2022. REUTERS/Kamil Krzaczynski
(Reuters) – Electric carmaker Rivian Automotive Inc will receive a total of $1.5 billion in state and local incentives and tax credits for the new electric vehicle assembly plant it plans to build in Georgia, the state and company said on Monday.
The $5 billion plant is expected to employ some 7,500 workers once up and running. Workers will receive an average annual salary of $56,000, Georgia’s Department of Economic Development said in a statement.
