Rivian secures $1.5 billion grant for its factory in Georgia, US

Rivian has officially confirmed that it secured substantial financial incentives from the government of Georgia in exchange for investing in a new factory that will be built in Stanton Springs North, east of Atlanta.

The deal is worth $1.5 billion providing Rivian itself invests $5 billion in the development and it will be realized over 25 years. Rivian plans a sprawling campus of over 20 million square feet - that’s over 347 football fields to give it a perspective and that’s just the buildings. Overall the site is 2,000 acres - just 100 acres less than Tesla’s Giga Texas.

The new factory will be a real boost to the local economy, in order to receive the incentives Rivian committed to creating 7,500 jobs directly within the company, additional 7,978 jobs will be created in supply chain and construction. Local schools and services will benefit to the tune of $300 million over next 25 years from Rivian and all employees will receive equity shares on top of their salaries. All this means the factory gets a green light and the work should start on time - Rivian wants to start production at the new facility in 2024.

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