Subscribe
Close
  • Free for qualified executives and consultants to industry

  • Receive quarterly issues of Area Development Magazine and special market report and directory issues

Renew
Inward Investment Guides

Incentives Keep Mitsubishi Motors in Normal, Illinois, Saving 1,200 Jobs

Area Development Online News Desk (02/07/2011)
Mitsubishi is retaining its site in Normal, Illinois, with help from a state business investment package that will salvage at least 1,200 jobs and the car maker's only North American plant. The expansion of the EDGE tax credit for the auto industry encouraged Mitsubishi to stay and grow, investing $45 million to begin production of its Outlander crossover vehicle in 2012.

"Mitsubishi Motors remains fully committed to producing vehicles in Normal, and I would like to thank Governor Quinn for his support of the automotive industry. We will build vehicles here not just for the United States, but for many nations around the world," said Mitsubishi Motors North America President Shinichi Kurihara.

The state's Department of Commerce and Economic Opportunity (DCEO) will administer the more than $29 million package consisting of EDGE tax credits and Employer Training Investment Program (ETIP) job training funds. It will also benefit from being located in an Enterprise Zone.

EDGE allows car makers to retain employee income tax withholdings and reinvest the money in job-creating projects.
RELATED TOPICS AND ARTICLES

Share