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Rivian Nabs $1.5 Billion in Incentives to Build a New Georgia Plant
https://www.newsweek.com ^ | ON 5/4/22 AT 9:30 AM EDT | JAKE LINGEMAN

Posted on 05/05/2022 5:34:09 AM PDT by Red Badger

Rivian Automotive, the electric vehicle (EV) company that beat the legacy automakers to market with the 2022 R1T electric pickup, just received $1.5 billion in incentives to build a new plant in Georgia. The package will include job training support, tax credits and subsidies, according to a statement by the Georgia Department of Economic Development.

Rivian will get $467 million in tax credits if it creates 7,500 jobs by 2028, as the automaker promised. But Pat Wilson, Georgia's commissioner noted that if Rivian doesn't produce that many jobs there are protections for the taxpayer. Almost $300 million will go into site preparation and job training. The final $700 million will come from the four counties hosting the plant, according to Bloomberg.

"In partnership with the Joint Development Authority (JDA) of Jasper County, Morgan County, Newton County, and Walton County, announced that the Economic Development Agreement has been signed by the JDA, the State of Georgia, and Rivian to move forward on the company's $5 billion Georgia project, which will create 7,500 jobs at Stanton Springs North," said the Georgia Department of Economic Development (GDEcD) in a statement.

"Rivian also released an updated site rendering and site plan for their carbon-conscious campus off I20, east of Atlanta. The JDA approved the agreement at a meeting on April 26," the statement said.

(Excerpt) Read more at newsweek.com ...


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To: bert

And I understand what you are saying as well. With government incentives it is possible that electric vehicles will play a larger role than if the free market were allowed to pick winners and losers. The future that you foresee is completely dependent on limited supplies of foreign resources that the USA has very limited control over.


41 posted on 05/05/2022 11:33:25 AM PDT by fireman15 (Irritating people are the grit from which we fashion our pearl. I provide the grit. You're Welcome.)
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To: Tell It Right
I was talking about the $40K Ford F-150 Lightning

Good luck on that... Check the Ford page. Check with dealers. Check the used car listing pages. I am not sure that you can even order one currently. The only Ford “Lightnings” that I am seeing for sale anywhere all have V-8 engines, and that is not what we are talking about. Send me a link if you can find one.

42 posted on 05/05/2022 12:43:45 PM PDT by fireman15 (Irritating people are the grit from which we fashion our pearl. I provide the grit. You're Welcome.)
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To: fireman15

Yep. There’s an EV F-150 Lightning, new, in southern Minnesota. About $70,000.

Cheap ones probably years away, if at all.


43 posted on 05/05/2022 12:58:13 PM PDT by jjotto ( Blessed are You LORD, who crushes enemies and subdues the wicked.)
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To: fireman15

I didn’t mean right now, silly. Nor am I certain I’ll get one. I’m just saying the price is reasonable enough to get my attention.


44 posted on 05/05/2022 1:06:33 PM PDT by Tell It Right (1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
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To: fireman15

Actually, it is not possible to predict anything except change is coming.

I say two simply because many seem to believe that Rivian is not for real. Ford opted out of a Rivian/Ford consortium

At present there are two apparent very strong potential producers of electric pickups that have absolutely no dependence on any foreign sources.

Ford is well into electric pickup production and has in effect bet the entire farm on those vehicles. Tesla has a pickup but has not begun production because it is concentrating on capturing the largest market share for electric cars.

From a design and technology position, vertically integrated Tesla has a definite advantage. The appearance of the Tesla pickup is radical and may not be acceptable as a working truck. With the evolution of a 4 door luxury truck filled with every bell and whistle known to man, the concept of a working truck may not actually exist any more

My crew cab dodge of the past was a utilitarian vehicle that made me money by hauling my crews and their tool to the job. Such a truck apparently does not presently exist. My personal 6 cylinder GMC straight drive utilitarian long bed pick up is apparently not common if it exists. It was 15 years old whwn I sold it at auction


45 posted on 05/05/2022 1:19:33 PM PDT by bert ( (KW?E. NP. N.C. +12) Promoting Afro Heritage diversity will destroy the democrats)
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To: 1Old Pro

“Looks like Georgia has a lot of taxpayers who want to pay for this.”

How many of them got to vote for it?


46 posted on 05/05/2022 3:20:11 PM PDT by BobL (Putin isn't sending gays into our schools to groom my children, but anti-Putin people are)
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To: poconopundit

Late reply - I do not have a link to that stat. I read it somewhere in the past - and as an electrical contractor who has installed many residential scale solar to medium scale utility solar systems - that info stuck in my mind. I did some math a few years back and that stat seemed realistic.

This website - https://weatherguardwind.com/how-much-does-wind-turbine-cost-worth-it/ - has some good info.


47 posted on 05/05/2022 5:32:06 PM PDT by 1FreeAmerican
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To: BobL
How many of them got to vote for it?

That's the problem, Governors throw around hundreds of million as if it's their own. NY Gov Hochul is using 700 million to pay for a Bills stadium for a billionaire, her husband's company has the catering contract.

48 posted on 05/06/2022 6:28:12 AM PDT by 1Old Pro
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To: 1FreeAmerican; alloysteel; V K Lee

This website - https://weatherguardwind.com/how-much-does-wind-turbine-cost-worth-it/ - has some good info.

* * * *

Thanks for the reference, lFreeAmerican. It sounds authoritative. Bottom line estimate considering $3 million investment to manufacture the wind turbine and assuming 50% capacity which is dependent on wind available, you’re talking about a 10-year payback at best.

Not good. Then there are annual $42,000 maintenance fees per turbine and I assume none of this includes the enormous expense of backhauling the electricity to the larger electric grid.

What a racket for a company like General Electric. Sounds like another form of government-enabled corporate welfare and a big taxpayer scam.


49 posted on 05/06/2022 7:49:30 AM PDT by poconopundit (Hard oak fist in an Irish velvet glove: Kayleigh the Shillelagh we salute your work!)
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