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Toyota, Mazda Seek $1 Billion in Aid for U.S. Factory
Toyota Motor Corp. and Mazda Motor Corp. hope to land at least $1 billion in tax breaks and other incentives for the assembly plant they intend to open in the U.S. in 2021, sources tell Bloomberg News.
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Toyota Motor Corp. and Mazda Motor Corp. hope to land at least $1 billion in tax breaks and other incentives for the assembly plant they intend to open in the U.S. in 2021, sources tell Bloomberg News.
The $1.6 billion factory eventually will employ 4,000 people and make Toyota Corolla and Mazda crossover vehicles at a rate of 300,000 units per year. The two carmakers confirmed in August they were forming a equity partnership to erect and operate the facility.
Bloomberg says more than a dozen states have at least signaled interest in landing the factory. Mazda and Toyota expect to choose a location by the end of this year, according to the news service.
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