Hyundai said today it plans to build a $270 million engine factory near its assembly plant in Montgomery, creating 522 jobs. The plant will produce engines for Hyundai vehicles made in Montgomery and for vehicles made at a planned Kia assembly plant in West Point, Ga. Kia is a sister company.
The Kia connection is especially significant to the state's economic development recruiters, who are pushing for more Kia suppliers to set up shop in Alabama, said Neal Wade, director of the Alabama Development Office. "This is a tier one supplier to the Kia plant," he said. "To have that in Alabama obviously sends a strong signal to other suppliers to at least look in the state."
The engine plant, announced today in Montgomery, marks the seventh Kia supplier for Alabama, Wade said. The deal calls for cash incentives of up to $17 million from the state and up to $3.5 million from local governments.
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