Plans are underway for the development of a $1.29 billion Toyota EV Battery Plant at the Greensboro-Randolph mega-site, just south of the Guilford-Randolph county line in North Carolina. The Electric Vehicle (EV) Manufacturer, Toyota Battery Manufacturing Inc., recently announced its plans to develop this battery plant on a 1,825-acre, KPMG-certified, shovel-ready site at Greensboro-Randolph.
Toyota EV Battery Plant brings 1750 jobs to Randolph County
The new Toyota EV Battery Plant in Greensboro-Randolph is intended to have four production lines, and each production line will be capable of producing an adequate amount of lithium-ion batteries for 200,000 vehicles. The EV company also plans on expanding to at least 6 production lines to cater for a combined total of up to 1.2 million vehicles per year. It is expected that about 1750 jobs will be created from this development, ranging from engineering, materials science, quality control and operations, and manufacturing fields; these new jobs would be 64% higher than the overall annual salary in Randolph County, N.C., which currently is an average of $62,234. The developers expect this development to become fully operational in 2025.
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The EV manufacturing company mentioned that North Carolina was chosen over nine other states in the US to build this Toyota EV Battery Plant. Toyota was won over by the incentives offered in North Carolina which include the property tax reductions for a 20 year period, approved by the Randolph Board of County Commissioners; with the addition of conveyance of property, and by the Greensboro Council for water at no charge; along with sewer service installation at no charge; and also a $338 million in Job Development Investment Grant (JDIG), which was recently approved and included in the state’s 2022 budget. State payments from the JDIG program will be dependent on the performance verification carried out each year by the departments of Commerce and Revenue, which will determine if the company has met its incremental job creation and investment goals.
The President & CEO of the Greensboro Chamber of Commerce, Brent Christensen, commended the EV Manufacturing company and welcomed the development of this new Toyota EV Battery Plant to Randolph County. Christensen mentioned that this was an exciting time for their region and he explained that Toyota’s decision to build the new plant at their Greensboro-Randolph mega-site, demonstrates the strength of their region’s labor force, infrastructure and ability to build regional partnerships to achieve results.
