GEORGIA – In a big development, the Joint Development Authority (JDA) of Jasper, Morgan, Newton and Walton counties have officially closed on bonds issued to finance the Rivian electric vehicle plant in Stanton Springs.

A special called meeting was held on Nov. 6 where the JDA voted to approve the closing in a near unanimous decision, with only one member, Ben Riden from Morgan County, opposing.

Rivian has also executed an exclusive rental agreement which will give the electric vehicle company long-term rights for the Stanton Springs property.

“It’s a great day in Georgia as we close and issue the bonds for the Rivian project,” per a statement released from the JDA on Thursday. “Renting the site to Rivian is the next step in delivering this generational opportunity, and Georgians in Jasper, Morgan, Newton, and Walton counties and beyond look forward to $5 billion in investment and 7,500 good paying jobs that this innovative, American manufacturing company will bring.”

According to the statement from the JDA, grading work will be completed by both the JDA and the state of Georgia in the weeks to come. Construction on the electric vehicle manufacturing facility will begin by early 2024.

It was also announced in the statement that Rivian will continue their efforts to grow their local presence. This includes a new Rivian office in Covington.

Additionally, an apprenticeship program has also been announced for the Stanton Springs location. Tuition for the apprenticeship will be covered by the state of Georgia’s HOPE grants with all other expenses to be paid for by Rivian. 

Per the JDA statement, the goal of the apprenticeship is to assemble “an initial group to support future industrial maintenance needs.”