Toyota Offered Incentives for Kentucky Plant Expansion
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Toyota Motor Corp., the world’s biggest automaker, is being offered $146.5 million in tax incentives by Kentucky to expand a plant in the state that’s already the company’s largest in North America.
The Kentucky Economic Development Finance Authority approved the package yesterday, based on Toyota enlarging its auto-assembly factory in Georgetown by 2015 to produce an additional model. The Toyota City, Japan-based company would have to invest $531.2 million and add 570 full-time jobs to receive the full value of the credits, the agency said in an e-mailed statement.