The Georgia Department of Economic Development (GDEcD), in partnership with the Joint Development Authorities (JDA) of several counties, announced on May 2, 2022, that an Economic Development Agreement has been signed with Rivian Automotives to move forward on the company’s electric vehicle (EV) assembly plant at the East Atlanta Megasite.[1] The $5 billion plant is expected to produce 400,000 trucks and SUVs a year. Under the agreement, Georgia will provide $1.5 billion in state and local incentives and tax credits. For example, the state will fund a $62 million training center and a roughly $27 million training program.

To meet the terms of the agreement, Rivian is required to create 7,500 jobs, which are expected to pay an average annual salary of $56,000. Rivian must also spend the bulk of its $5 billion direct investment by the end of 2028. As part of this investment, the EV manufacturer must make more than $300 million in payments in lieu of taxes over 25 years to the JDA of Jasper, Morgan, Newton & Walton Counties. These payments will start in 2023 with a payment of $1.5 million and escalate in steps over 25 years. If employment falls 20% below the promised level, Rivian must make all of its payments at once. The company plans to start construction in summer 2022 and open in late 2024.

[1] https://www.georgia.org/sites/default/files/2022-05/rivian_eda_signed_05.02.2022.pdf

https://www.georgia.org/sites/default/files/2022-05/rivian_incentives_-_executive_summary.pdf