Columbus, Ohio will be the site for a new battery plant for Coda Automotive, according to the Columbus Dispatch. The project will add 1,000 jobs to the area. The company, which is based in California, is manufacturing a fully electric vehicle that will be available for sale by the end of this year. Coda has not yet selected a facility in which to locate.
The company is seeking state and local incentives for the project. Incentive offers helped determine Coda's decision to locate in Columbus.
"Their incentive package was just clearly the best, and it penciled it out for us," said Coda Spokesperson K. Forrest Beanum. "When you're a start-up, it's all about the finances."
Ohio Governor Ted Strickland estimated the total incentives offered to Coda at approximately $100 million. Central Ohio leaders also included a pledge to buy 30 vehicles for local executives as part of their package to lure Coda to the region.
The company is now waiting on a federal loan from the U.S. Department of Energy that would fund most of the plant's costs.