Rivian Automotive, Inc. (NASDAQ: RIVN) announced today it has received an $827M incentive package from the State of Illinois Department of Commerce & Economic Opportunity, which will allow the company to expand operations at its plant in Normal, IL. The funds from the incentive package will go towards expansion of the plant, improvements in public infrastructure and job training programs for Rivian’s workforce, leading up to the company’s production of its midsized SUV, R2. Rivian will be participating in several city improvement projects to demonstrate its ongoing commitment to investing in the Illinois economy and community.
“We are grateful for this investment from the State of Illinois and for the leadership of Governor Pritzker, President Harmon, and Speaker Welch,” said RJ Scaringe, Rivian Founder and Chief Executive Officer. “The support from the state will allow us to quickly bring our midsize SUV, R2, to market and provide even greater consumer choice for EVs. Governor Pritzker has always been a strong advocate for providing economic opportunities for Illinois residents and business owners alike. We look forward to continuing our close partnership and building upon the success we have enjoyed.”
Rivian has invested more than $2 billion in Normal. In just three years, Rivian has also generated a value add of over $3.9 billion to the local economy, which has brought increased development to the area.
Since production began in 2021, Rivian’s Normal facility has manufactured over 100,000 electric vehicles.