Texas city approves $440 million incentive package to land Rivian’s second plant

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FORT WORTH, TEXAS (WEEK) – City leaders in Fort Worth, Texas have finalized their incentive package for Rivian Automotive to build a 5 billion electric vehicle plant in their community, which would be in addition to Rivian’s factory in Normal.

The Fort Worth City Council on Tuesday voted unanimously to approve up to $440 million in tax breaks contingent on Rivian meeting various goals, including hiring at least 7,500 full-time workers by the end of 2027. The average annual salary for those jobs must be at least $56,000, according to the city’s development agreement.

The city council also nominated Rivian to qualify for a state enterprise project designation that would allow for Texas sales and use tax refunds of up to $1.25 million over a five-year period.

Rivian has yet to announce where it intends to build its second plant.

The post Texas city approves $440 million incentive package to land Rivian’s second plant appeared first on WEEK.

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