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Madison County Commission approves $3 million payment for Toyota-Mazda deal

The money will be used for public improvements related to the Toyota-Mazda plant coming to Huntsville.

Posted: Mar. 7, 2018 11:21 AM
Updated: Mar. 7, 2018 11:21 AM

Madison County commissioners approved giving $3 million to the city of Huntsville for public improvements related to the location of a joint Toyota-Mazda assembly plant in the city.

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The money would be paid in $600,000 installments over a five-year period. The first installment will be due in 60 days.

RELATED: 10,000 additional jobs expected because of Toyota-Mazda decision

County Commission Chairman Dale Strong said the money will help pay for public improvements.

Toyota and Mazda plan to invest $1.6 billion in a new auto assembly plant that will employ 4,000 workers. Production of Toyota Corollas and a new crossover vehicle from Mazda is expected to begin in 2021.

Last month, Limestone County commissioners approved a tax increment financing district for the project that would pay for infrastructure improvements. The site where the plant will be built lies in the Limestone County portion of Huntsville.

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