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13 Enero 2018, 09:57 | Dolorita Barahona
Update: Toyota-Mazda To Build $1.6 Billion Plant in Alabama
North Carolina, which was among the finalists, would have gained 4,000 jobs from the plant. "A plant is a 50-year investment", he said.
The plant will make a redesigned version of the Corolla compact, one of Toyota's top-selling models.
But what will that mean for Corolla production in Blue Springs?
The two automakers are aiming to start operations at the plant in 2021.
A year ago, shortly before his inauguration, Trump criticized Toyota and threatened hefty tariffs against the Japanese automaker if it built its Corolla sedan for the USA market in Mexico. "We'll be calling on suppliers to see what production ramp-up looks like and what we can do".
Toyota now operates an engine manufacturing facility in the area. "Toyota required some additional acreage, so the city has been acquiring that acreage for the project", said Robinson.
"There's risk there", Mr. Wakefield said.
Shares of Toyota closed up 2.1 percent higher to ¥7,704, while Mazda gained 0.7 percent to ¥1,583.8 on Wednesday.
It is unclear how many indirect jobs will be created at the plant, such as at suppliers that may locate nearby, or how much in tax credits Toyota and Mazda will receive to offset startup and/or operating costs.
Rep. Martha Roby is also pleased about the new plant.
Toyota-Mazda pick 'sweet home Alabama' over NC for $1.6B plant
Mr. Carter said no decision had been made on such an arrangement.
The Corolla is also made in Cambridge, Ontario.
Why it could win: No automotive assembly plants to compete with for talent. To entice manufacturers, Southern states have used a combination of lucrative incentive packages, low-priced labor and a pro-business labor environment since the United Auto Workers union is stronger in Northern states.
The City of Huntsville is among the other governments making commitments.
Ever since Mercedes-Benz chose Alabama over North Carolina for an SUV factory 25 years ago, the state has been haunted by questions of whether it's serious enough about laying out big incentive packages.
"[With Alabama's] geography, they're proximally located in that corner where the supply chain is tended to locate", he said. "That's why states want to get them".
Kentucky has lost out on a $1.6 billion automobile plant which would have brought thousands of jobs to the region.
Toyota announced in October that it would downsize 30 percent or $700 million of its investment at a plant in Mexico and would cut annual capacity by half to 100,000 vehicles, as it rearrange assembly plans to meet market demands.
The news will likely be well-received by President Donald Trump, who has attacked automakers for not producing more of their vehicles in the United States.
A Toyota representative refused to comment, other than to say an announcement was expected soon.
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