Georgia is one step closer to becoming the epicenter of electric vehicle manufacturing after the state and Rivian cleared legal hurdles that sought to derail the manufacturing plant in Morgan and Walton counties. The manufacturer now has long-term rights to nearly 2,000 acres in the Stanton Springs North project.
The Georgia Department of Economic Development (GDEcD) and the Joint Development Authority of Jasper, Morgan, Newton, and Walton Counties (JDA) announced Nov. 9 that they have closed on bonds with Rivian and have executed the rental agreement. The deal was first announced in 2021.
“It’s a great day in Georgia as we close and issue the bonds for the Rivian project,” the statement reads. “Renting the site to Rivian is the next step in delivering this generational opportunity, and Georgians in Jasper, Morgan, Newton, and Walton counties and beyond look forward to $5 billion in investment and 7,500 good-paying jobs that this innovative, American manufacturing company will bring.”
Site grading work is set for the coming weeks with construction slated for early 2024.
Rivian was set to pay its first $1.5 million in Payment in Lieu of Taxes (PILOT) payments, which are set to continue for the next six years. That amount is to increase to $12 million in year seven.
“Over the 25-year abatement period, Rivian will pay at least $300 million in PILOT/tax revenue payments,” according to GDEcD. “Under the agreements, if Rivian exceeds its initial investment commitment of $5 billion, then the PILOT payments also increase based on a defined schedule in the agreement.”
The economic development project is the second largest in Georgia's history and hopes to produce 400,000 vehicles annually once operational. It will include a QuickStart facility to be constructed for training purposes.
The Georgia Department of Transportation plans to construct a new interchange on I-20 at Old Mill Road and a four-lane frontage road running parallel to the interstate, which will connect Highway 278 to Old Mill Road.
Rivian is also building a network of charging stations in Georgia that it claims are 100% powered by renewable energy. The chargers can provide up to 140 miles of range in 20 minutes for some models, and locations are meant to provide range for those who want to explore destinations in Georgia.
According to a map on its website, Rivian has charging stations available in Atlanta, Covington, Macon, Augusta and Pooler, just outside Savannah.