COLUMBUS, Ohio — Economic development officials in Ohio have finalized a $237 million agreement with Honda to develop a battery plant near its capital city.
Teaming with LG, the Japanese automaker said it plans to make the state its North American electric vehicle hub. JobsOhio posted details of the package Wednesday. The deal include a $140 million economic development grant for the facility, a $10 million workforce grant and $87 million to retool existing facilities in the state.
The money, paid over the next 10 years, comes atop about $156.3 million in tax incentives and infrastructure improvements the state pledged to the project. Officials say the battery plant will be located in rural Fayette County, about 40 miles southwest of Columbus.