Airbus announces first U.S. assembly line to be built in Mobile

Alabama, especially the gulf coast, got a big boost Monday morning.

European aerospace giant, Airbus, will invest $600 million{}to build a new assembly plant in Mobile. It's the company's first in the U.S.

By the time the plant reaches full production,{}it will employ one thousand people.{} By 2018, the facility is expected to produce between 40 and 50 aircraft each year.{} The state is providing more than $158 million in economic incentives for the Airbus assembly plant.{}

"We are{}honored at Airbus to be a part of a truly American celebration, in an American town we are proud to call home," said Airbus CEO Fabrice Bregier.

Initially, Airbus had planned to manufacture refueling tankers in Mobile for the U.S. Air Force.{}But,{}its parent company, EADS, the European Aeronautic Defense and Space Company, lost the contract to Boeing last year.