NC a finalist for Toyota-Mazda auto plant

NC a finalist for Toyota-Mazda auto plant

Bloomberg, via Automotive News, reports that sources close to the negotiations say the competition for the future Toyota-Mazda manufacturing plant is down to two states. North Carolina, home to the tech triangle, does not now host an automotive plant.

Several states were in the running for the plant, including Tennessee, Texas and SC.

Local business leaders are closely watching developments because the Greensboro-Randolph Megasite, in northeastern Randolph County, is often mentioned as a top contender among all sites. The Jackson Sun newspaper quoted an economic development executive who said he believes North Carolina is the leading state with SC - not Alabama - the other contender.

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Alabama. South Carolina. It doesn't matter.

The Japanese automakers announced the plans for the new plant in August, saying the move will create 4,000 jobs.

Randolph County is in the process of expanding its site by rezoning 370 acres to add to the 1,500 acres that comprise the site.

American Eagle Outfitters (NYSE:AEO) Sees Stock Price Rise - Up $0.08
The company has a market capitalization of $2,475.15, a P/E ratio of 12.16, a PEG ratio of 1.41 and a beta of 1.10. Acadian Asset Management LLC increased its stake in American Eagle Outfitters by 63,983.9% in the third quarter.

Both Toyota and Mazda declined to comment to Bloomberg about the claims.

According to a formal announcement earlier this year by the two companies, their alliance will be far reaching and will see Toyota acquire a 5% stake in Mazda, the smaller maker taking a stake in its new partner, as well.

The shared facility is expected to open in 2021.

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The factory is such a hotly contested prize that Toyota and Mazda are pressing for an incentive package valued at $1 billion or more.

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