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Wednesday, 05 May 2021 19:49

Rivian Receives Property Tax Abatement after Exceeding Expectations in Normal, IL

Written by Maria Merano, Teslarati

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The Normal, IL, Town Council approved a property tax abatement for Rivian, noting the company exceeded expectations. 

In 2016, the town council approved an economic incentive agreement with Rivian Automotive relating to the company’s location and operation of an automobile manufacturing facility, formerly owned by Mitsubishi. As per the agreement, the Town of Normal---and other affected taxing bodies---agreed to abate Rivian’s property taxes for five years, provided that the EV automaker met specific criteria.
 
Rivian was given the following benchmarks for reductions in its 2020 property taxes, paid in 2021: 

 

  • Invest at least $32 million in project expenses 
  • Employ 300 full-time employees with an average salary equal to greater than the average weekly salary in McLean County as measured by the Bureau of Labor Statistics of the U.S. Department of Labor

 

According to the Economic Development Council’s Patrick Hoban, Rivian met 2020’s benchmarks and the following year’s abatement criteria. 

 

“The original plan, as you know, was to create about 500 jobs, and I think they’re about at 1,300,” Hoban noted. 

 

Zach Dietmeier, Rivian’s senior manager of plant communications in Normal, not so subtly hinted the EV automaker actually employed more than 1,300 people thus far. He said Rivian surpassed 1,400 hires as of May 3, noting the company adds 50 to 80 employees per week at its current pace.

 

Dietmeier also said Rivian has contributed...


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