Honda recently announced that it would be investing $54.8 million to expand its Talladega County manufacturing factory by more than 50,000 square feet. Growth is nothing new for the Lincoln, Alabama site. An $85 million project focused on Line 1 that began a little more than one year ago is nearing completion.
This expansion of Line 2 operations is expected to be completed by the spring of 2021. The two projects will provide more than 425,000 square feet of new manufacturing space. According to Honda, the expansion projects will help “improve vehicle manufacturing flexibility, strengthen the efficiency for future models, and prepare for future technologies."
The Talladega County Commission approved a tax plan for the project that waives state and local non-educational taxes related to the project for ten years. The same is applied to state and local non-educational sales, use, excise, and similar taxes on personal property and taxable services. These waivers equate to a total tax savings of just over $1.7 million.
Honda Manufacturing of Alabama employs more than 4,500 people and has invested more than $2.6 billion in the plant, which produces more than 340,000 vehicles and engines annually. Within the last 16 months, Alabama has been the site of seven vehicle production projects totaling more than 5,400 jobs and more than $3.3 billion in investments.
Image Credit: Honda Manufacturing of Alabama/https://www.hondaalabama.com/our-company