Honda Receives Another Grant of $237 Million for Battery Plant Project

Ohio’s privatized economic development office has finalized an agreement with Honda to infuse another $237 million into development of a massive battery plant project that the Japanese automaker plans to use to transform the state into its North American electric vehicle hub.

JobsOhio posted details of the package of three grants on Wednesday. They include a $140 million economic development grant for the plant Honda is building jointly with LG Energy Solution of South Korea, a $10 million workforce grant for the project itself and $87 million to retool Honda’s existing facilities.

The money, payable over the next 10 years, comes on top of the approximately $156.3 million in tax incentives and infrastructure improvements from the state of Ohio — which has begun to position itself as a regional epicenter of leading-edge technology.

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