Deal for $5.5B Hyundai plant in Georgia nears final approval

By JEFF AMY and RUSS BYNUM
Associated Press

SAVANNAH, Ga. (AP) — Georgia officials are close to finalizing a deal with automaker Hyundai to build a $5.5 billion electric car plant near Savannah. An economic development agency representing four Savannah-area counties approved its portions of the agreement Tuesday, including an economic incentives package. Details won’t be released until state officials and Hyundai also sign the deal. Hyundai plans to hire at least 8,100 to work at the Georgia plant, which is scheduled to open in 2025. State and local governments spent $61 million to purchase the plant site and $66 million to prepare it. Incentives include an income tax credit worth an estimated $213 million.