After initially refusing to validate financing the Rivian plant in Morgan and Walton counties, Superior Court Judge Brenda Trammel has now signed off on $5 billion in bonds. Trammel’s decision came after the Georgia Supreme Court decided not to hear an appeal of the bond validation case brought by a group of local citizens seeking to halt the project. The Georgia Department of Economic Development called the approval a victory from the state.
The agency says the project is on track with 90 percent of grading complete. Construction is expected to begin later this year with completion in 2026. The Rivian plant will generate 7,500 jobs, making it the second largest economic development project in Georgia history, behind only the $5.5 billion Hyundai EV plant under construction west of Savannah. Under the validated bond agreement, Rivian will not pay property taxes but will make Payments in Lieu of Taxes and pay personal taxes on machinery and equipment. However, the annual PILOTs will be reduced by the amount of personal property taxes paid.
