The chances for Alabama to be the new home of a $1.6 billion joint car factory appear to be increasing, according to a new report.
Bloomberg reports Alabama and North Carolina are the final two states who are in the running to land the Toyota and Mazda plant, citing people familiar with negotiations.
The Japanese automakers announced the plans for the new plant in August, saying the move will create 4,000 jobs. The plant will be able to produce 300,000 vehicles annually, and both companies hope to start operations in 2021.
It was believed following the initial announcement Toyota would build the plant relatively close to its Mississippi Corolla plant, and the company already makes engines at its Alabama manufacturing plant in Huntsville.
The Bloomberg report states the two companies have trimmed the list from about a dozen states to two for weeks, and it could require an incentive package totalling $1 billion.
Information from the Associated Press was used in this report.