Rivian Automotive Expands Normal, Illinois, Operations
05/06/2024
The investment will increase the total capacity for the company’s existing McLean County site to 215,000 units per year, with a focus on the R2 SUV.
“We are grateful for this investment from the State of Illinois and for the leadership of Governor Pritzker, President Harmon, and Speaker Welch,” said RJ Scaringe, Rivian Founder and Chief Executive Officer. “The support from the state will allow us to quickly bring our midsize SUV, R2, to market and provide even greater consumer choice for EVs. Governor Pritzker has always been a strong advocate for providing economic opportunities for Illinois residents and business owners alike. We look forward to continuing our close partnership and building upon the success we have enjoyed.”
The project is being supported by an $827 million incentive package from the State of Illinois Department of Commerce & Economic Opportunity, with the majority of funding derived from REV tax credits with a focus on workforce development. Through REV, Rivian is eligible to receive tax benefits totaling nearly $634 million over the next three decades. The REV agreement specifies the retention of at least 6,000 jobs for the entirety of the agreement period.
“Rivian had many options for its R2 production and its decision to expand in Illinois speaks volumes to the state’s workforce and the strong EV ecosystem Illinois is creating,” noted Illinois DCEO Director Kristin Richards. “Rivian’s expansion cements our partnership and will bolster the state’s already strong supply chain and help attract and retain other industry heavy hitters while creating good-paying clean energy jobs for Illinoisans.” ?
Pending an executed agreement, Rivian will also receive Invest in Illinois funding in the amount of $75 million in capital funding.
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