Ottawa and Queen’s Park hope the auto giant’s new manufacturing complex will be the lynchpin of a new “green” supply chain in Canada.
OTTAWA – Prime Minister Justin Trudeau and Premier Doug Ford hit the road Friday to finally unveil plans for the new multi-billion dollar Volkswagen electric vehicle “gigafactory” in St. Thomas.
Sources close to the negotiations between Ottawa, Queen’s Park and the German auto giant say the Volkswagen deal will be larger than theBut they are equally tightlipped about details of just how much — in tax credits, capital expenditure support or other incentive measures — each level of government had to put on the table to lure Volkswagen here.
“This will mean thousands of jobs. Each of these plants requires supporting plants so other companies will be supplying Volkwagen as well,” said a source, referring to the massive manufacturing eco-system that a gigafactory requires. A senior source said government support for projects usually comes as help for capital expenditures, but in the face of the Biden Administration’s Inflation Reduction Act — a $369-billion package of incentives to anchor green investment in that country — Canada must compete against what the U.S. is offering, which is billions of dollars to offset operating expenditures over time through production tax credits. The value of those credits to any company depends on future production levels.
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