Huntsville is planning to provide large incentives to bring Toyota and Mazda to Limestone County.
The city is offering a $320 million incentive, which will help put the $1.6 billion plan in the works.
Huntsville will also waive $107 million in education property taxes and $24 million in utility and soft costs are also waived.
"It's the equivalent to the touchdown pass Alabama had," said Huntsville urban development director Shane Davis, referencing Alabama's overtime touchdown to win the College Football Playoff National Championship, "It's finished. Now the hard work begins."
The State of Alabama is also offering a $370 million incentive package which includes tax abatements and investment rebates. The state is also providing workforce training to help its citizens get some of the 4,000 jobs.
Limestone County is also expected to offer an incentive package as well.
Toyota and Mazda expect to begin production at the Limestone County facility in 2021. City and county leaders say this investment could lead to an additional 10,000 jobs for the area economy.
Huntsville Mayor Tommy Battle also used a sports analogy to describe this economic development deal.
"If there ever was a slam dunk deal, this is a great one," Battle said.
Information from the Associated Press was used in this report.