Kia to Build First U.S. Plant in Georgia
Kia Motors Corp. confirms it will build a new $1.2 billion vehicle manufacturing facility in West Point, GA.
The South Korean manufactures first U.S. plant will begin production in 2009 and employ 2,500 workers. Annual production for the plant will be up to 300,000 vehicles annually. According to Kia officials they decided to locate the plant in West Point primarily on "maximizing synergies with the Hyundai Motor Co. Ltd.'s Alabama plant, availability of a qualified workforce in the area and strong logistical and transportation infrastructure". Hyundai and Kia are part of the Hyundai Automotive Group.
Wards Automotive News is reporting that the state of Georgia offered Kia a $410 million dollar package. Local media reports say Kia will receive $75.9 million in tax credits over a 5-year period, $20.2 million for a job-training facility to be built on the plant site property, $60.5 million to prepare the site and $130 million in tax abatements from the City of West Point and Troup County over a 15-year period.
