The state of Georgia and local governments are giving $1.8 billion in tax breaks and other incentives to Hyundai Motor Group in exchange for the automaker building its first U.S. plant dedicated to electric vehicles near Savannah, according to the signed agreement disclosed Friday.
The deal calls for Hyundai to invest $5.5 billion in its Georgia plant and hire 8,100 workers. It’s the largest economic development deal in the state’s history and comes just months after Georgia closed another major deal with electric vehicle maker Rivian to build a factory in the state.
“Not only do these generational projects solidify our spot at the vanguard of the EV transition, but they also ensure that thousands of Georgians across the state will benefit from the jobs of the future,” Pat Wilson, the state’s economic development commissioner, said in a statement.
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