NC a finalist for $1.6 billion Toyota-Mazda plant, report says

NC a finalist for $1.6 billion Toyota-Mazda plant, report says

Alabama is the other finalist for the $1.6 billion plant, and a decision is expected early next year, the newspaper reported. Representatives of both companies do not comment on the data, however, insiders claim that experts brands abandoned the idea to build a plant in Texas, Tennessee and SC.

The Japanese automakers announced the plans for the new plant in August, saying the move will create 4,000 jobs. Chairman Rid Pell said he hopes the land will be a draw for the potential plant.

Toyota's collaboration with Mazda goes beyond the shared plant. Toyota plans to assemble the Corolla sedan at the plant, while Mazda said it will use the factory to produce new crossover vehicles for the US market.

It was believed following the initial announcement Toyota would build the plant relatively close to its Mississippi Corolla plant, and the company already makes engines at its Alabama manufacturing plant in Huntsville. The two companies reportedly want $1 billion in tax breaks and other incentives for the privilege of being the home of the newest transplant facility.

The auto companies announced earlier this year that they were searching for a place to establish a plant that would manufacture 300,000 vehicles a year.

North Carolina has four "megasites" that have been built to accommodate large industry such as automotive or airplane. Toyota will began producing a new "two-box van" for sale by Mazda in Japan.