IDB Set To Act On $50 Million State Grant To Volkswagen For New Electric Vehicle Plant

  • Wednesday, June 22, 2022

The City Industrial Development Board is set to act next Monday on the state's $50 million grant to Volkswagen for its new electric vehicle plant at Enterprise South Industrial Park.

The grant is covered by 2020 state general obligation bonds.

It covers expenditures over five years through the end of July in 2024.

Permitted expenses can go back to Feb. 1, 2019.

The grant is for infrastructure, site development, equipment, facility construction and "all related work."

It was approved earlier by the state Building Commission.

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