Incentives for Toyota-Mazda plant in Alabama

East Elementary Archery 2017 State Champions

East Elementary Archery 2017 State Champions

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. Production is targeted to begin by 2021.

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

"This is indeed a great day in Alabama", an upbeat Gov. Kay Ivey said Wednesday, flanked by company executives at a news conference in the state capital, Montgomery.

The Huntsville City Council on Thursday approved a $320 million local incentive package.

Toyota and Mazda will join Mercedes, Honda and Hyundai in operating factories in Alabama.

The plant is projected to employ about 4,000 workers and produce approximately 300,000 vehicles a year. The state produced 9 percent of the cars made in the country, the center said.

"Being here today feels like a homecoming for Toyota and me personally", said Toyota president Akio Toyoda at a ceremony to announce the new plant.

"Alabama was more equipped for this plant as it already has others".