NORMAL,IL--Rivian Automotive is planning to invest 175-million dollars, and eventually hire roughly a thousand workers. The Michigan based start up company could be the new tenant inside the former Mitsubishi plant in Normal. The company would produce a high tech automobile and conduct research.
"The fact that we have a two-point-five million square foot facility that's available and at a very competitive price I think was initially what got them,." said Normal Mayor Chris Koos.
The town of Normal is expected to contribute a $1 million grant and a five-year property tax abatement for the development. Rivian would have to meet annual investment and employment projections. The twin cities Economic development leader says he expects the company to complete it's sale of the property after the first of the year. He disputes a published report about Rivian reneging on a similar redevelopment deal in Florida.
"We're confident that we've vetted that incident and we feel they're in good standing," said Bloomington Normal Economic Development Council C.E.O. Kyle Ham.
Over the next couple of weeks Normal Town officials say they will wrap up the tax abatement agreement with other governmental agencies.
Ham says once the sale of the property is completed it would take up to two years before Rivian could start production. On Monday the town council will hear from the company's president.