Conglomerate tax in action!
Conglomerate tax in action here: "Hyundai Motor Group is set to get around $2.1 billion in tax breaks and other incentives from the state of Georgia and local governments for the automaker's planned electric vehicle manufacturing facility in the state, the Associated Press reports. Under the terms of the deal, which is up from the $1.8 billion agreement originally announced, Hyundai and battery maker LG Energy Solution will invest $7.6 billion in the Georgia complex and hire 8,500 workers over the next eight years. The South Korean automaker expects to start production in 2025.
"The southern states are becoming a hotspot for auto manufacturers, and particularly for new EV projects: Lower unionization rates there mean cheaper labor for employers, while population growth in many of those states creates a larger worker pool."