Deal for $5.5B Hyundai plant in Georgia nears final approval

Deal for $5.5B Hyundai plant in Georgia nears final approval

2 years ago
Anonymous $Smh9ljW9Kw

https://apnews.com/25c96316b4e91fba47d3550ca4832657

SAVANNAH, Ga. (AP) — The local economic development agency that worked with Georgia officials in recruiting Hyundai Motor Group to build a $5.5 billion electric car plant near Savannah approved its portions of the deal Tuesday, though details of tax breaks and other incentives have yet to be disclosed.

The joint development authority that voted to enter the deal represents four southeast Georgia counties that will give up hundreds of millions in taxes in exchange for at least 8,100 jobs Hyundai has promised to create. Officials said they won't release details of the incentives package until the state and Hyundai finalize the deal, possibly later this week.