Battery manufacturing plant coming to Illinois – with $530M incentive deal

URLhttps://www.nprillinois.org/economy-business/2023-
Sourcenpr Illinois
Date Published09/08/2023
Author NameAndrew Adams

Additional Reshoring Information:

Company/Division name Gotion
Parent companyGotion
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):2600
Year reshoring announced:2023
Year reshoring implemented or to be implemented:2024
Capital investment ($):2000
Country(ies) from which reshored:China
City reshored to:Chicago
State(s) reshored to:IL
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredlithium-ion battery
What domestic positive factors made reshoring more attractive?Government Incentives, $125 million for capital funds
Government Incentive dollar amount:$213 M in tax credits to company over the next 30y
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