KANSAS CITY, Mo. — On Thursday, Kansas Gov. Laura Kelly announced that Panasonic has selected De Soto, Kansas, as the site to build a $4 billion battery plant.
“This first of its kind investment will represent the largest economic development project in Kansas’ 161-year history,” Kelly said.
In a press conference, Kelly said the plant is expected to bring 4,000 planned new jobs to the state.
Kelly also said the investment from Panasonic could create 4,000 could also be created through businesses.
“We will be the production epicenter for batteries that will power the increasing demand for EVU’s in a more sustainable world,” Kelly said. “A new facility of this size is transformational, not only for Johnson County, but also for the entire state.”
Through the Panasonic investment, $2.5 billion in yearly economic activity is projected.
A study from Wichita State University predicts 16,500 construction could be created as part of the investment.
In order to land the project, state authorities signed off on nearly $830 million in economic incentives.
The two largest pot-sweeteners include a five-year, $500 million investment tax credit and a 10-year, $234 million payroll rebate.
Additional incentives include $25 million over five years for training and education, $10 million over 10 years for relocation investment and $60.2 million over five years in sales tax exemptions.
“With the increased electrification of the automotive market, expanding battery production in the U.S. is critical to help meet demand,” Kazuo Tadanobu, president and CEO of Panasonic Energy, said. “Given our leading technology and depth of experience, we aim to continue driving growth of the lithium-ion battery industry and accelerating towards a net-zero emissions future.”
Officials on Thursday didn’t immediately say when the plant would open.