Loading...
Loading...
Browse all stories on DeepNewz
VisitRivian Secures $827M from Illinois for Facility Expansion, Stock Rises 7.5%
May 2, 2024, 06:37 PM
Rivian Automotive has secured an $827 million incentive package from the State of Illinois to expand its Normal, Illinois facility. This funding is part of a broader initiative by Governor JB Pritzker and the Illinois Department of Commerce and Economic Opportunity, which also includes a $30 million investment to revitalize commercial corridors and spur economic development across the state. Rivian's expansion involves a $1.5 billion investment in the facility, aimed at enhancing its manufacturing capabilities. Following the announcement, Rivian's stock rose by 7.5%.
View original story
Markets
No • 50%
Yes • 50%
Economic reports from the Illinois Department of Commerce and Economic Opportunity
Yes • 50%
No • 50%
Company announcements, press releases
No • 50%
Yes • 50%
Stock market data
Outperforms Ford • 33%
Underperforms both • 34%
Outperforms Tesla • 33%
Stock market data
Increase by over 50% • 25%
Increase by 20-50% • 25%
No significant change • 25%
Increase by less than 20% • 25%
Company production reports
Less than 500 jobs • 25%
Over 2000 jobs • 25%
1000-2000 jobs • 25%
500-1000 jobs • 25%
Illinois Department of Employment Security reports