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Alabama incentives for factory top $700 million

(AP Photo/Shizuo Kambayashi)

Alabama's total incentive package to land Toyota and Mazda's new U.S. factory will top at least $700 million after local incentives are added.

The Huntsville City Council on Thursday approved a $320 million local incentive package for the factory. That is in addition to $380 million offered by the state in tax abatements, investment rebates and the construction of a worker training facility.

The city's offer to the Japanese auto manufacturers included providing the land, building a road to the factory and property tax abatements worth $107 million over 20 years.

Huntsville Mayor Tommy Battle said the project will bring economic benefits to the region for generations. The factory will employ 4,000 people.

"If there ever was a slam dunk deal, this is a great one," Battle said.

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