The state of Kansas has landed its largest economic development project in its history.
State officials say Panasonic will build one of the largest electric vehicle battery manufacturing plants in the country — a roughly $4 billion complex in DeSoto. Governor Laura Kelly says the plant will create and then distribute lithium-ion batteries as part of an overall expansion towards more sustainable technology for the automotive industry.
As far as economic impact, it could generate over $2 billion in economic activity per year. It could also support another 4,000 jobs with suppliers and community businesses along with over 16,000 construction jobs.
The Panasonic plant was the Project APEX that had state lawmakers and the governor’s office scurrying to create a massive incentive package to help Kansas compete with other states. The offer totaled $829 million in incentives, including $500 million in tax credits over 5 years and a better than $200 million payroll rebate over 10 years.
