Incentives for Toyota-Mazda plant in Alabama

Alabama Could be #2 in US Auto Manufacturing!

That announcement is expected to be made Wednesday afternoon in Alabama.

The plant, which will build the Toyota Corolla along with other models, is a huge win for President administration which has made a point of stressing it would add manufacturing jobs, especially in the auto industry.

"Toyota and Mazda announce giant new Huntsville, Alabama, plant which will produce over 300,000 cars and SUV's a year and employ 4000 people", Trump said on Twitter.

A spokesperson for Toyota declined to comment to CNBC.

Alabama Could be #2 in US Auto Manufacturing!
Incentives for Toyota-Mazda plant in Alabama

Currently Honda and Hyundai operate assembly plants in Alabama.

The Toyota and Mazda plants' total incentives from state and local governments will be in excess of $700 million.

"This project will really put Alabama at the center of the Southern automotive industry", Canfield said. It's now tied for fifth, with Tennessee, in annual auto production, according to the Center for Automotive Research, which tracks vehicle manufacturing in the U.S.

Alabama, which seeks to emerge a major auto making hub in the south, will get a $1.6-billion joint venture plant by Japanese vehicle giants Toyota and Mazda that will eventually employ 4,000 people. "It vaults Alabama to the top as an industry leader in producing the next generation of cars that will power our nation". Companies are coming back to the U.S.in a very big way. Alabama started on the road to becoming an auto manufacturing hub in 1993 when Mercedes chose it as the location for a manufacturing plant after the state offered a then-eye popping $250 million incentive package. "Toyota has an engine plant in Huntsville and two other facilities nearby in MS, so this makes sense".

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