IncSmart Alabama (Small Business and Startups) - Toyota and Mazda have announced that they have selected Huntsville Alabama as their joint venture manufacturing site. The plant could make Alabama the fourth largest state in America when it comes to auto manufacturing. Toyota and Mazda annual production capacity will increase to 300,000 vehicles. The Toyota Mazda incentive package is over $800 million. This is a new trend of foreign based automakers building American factories in the south. Detroit still owns the title to automobile manufacturing.
A total investment of $1.6 billion will be made with equal funding contribution from both the companies. Set to start production in 2021, the new hub will add up to 4,000 jobs. Toyota already has an engine plant in Alabama, located at a distance of 14 miles from the new factory. Also, this new plant will mark the company’s 11th U.S. manufacturing center. The package includes an approximate $380-million incentive from the state of Alabama while an amount of $320 million has been provided by the city of Huntsville.
By IncSmart Staff Writer
Starting a Business in Alabama - Alabama Corporation - Alabama LLC
For 10 years, IncSmart.biz Business Services has helped companies and people from all over the world form Alabama Corporations and Alabama Limited Liability Companies. When you call, email, text, message or live chat with our office, expect personal attention. Small business is the heart of IncSmart.
We are very excited about helping you form your new company. Each state is so different when it comes to filing documents, you will know right away you are in the right place.
Think Smart. Think IncSmart.