Rivian amends Georgia EDA: performance period starts 2030, PILOT payments minimum $300M

Rivian Automotive, Inc. / DE

Performance period for 7,500 jobs and $5B investment shifted to Dec 31, 2030 – Dec 31, 2047.
Minimum annual PILOT payments start at $1.5M, rise to $20.4M by 2047; total minimum ~$300M.
Company may terminate by Apr 1, 2024 if state fails to confirm zoning exemption by Feb 15, 2024.
Additional termination right by Dec 31, 2024 if loan denied, subject to termination fee and restoration.
Target closing date for rental agreement and project bonds set for on or about Nov 1, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Rivian Automotive, Inc. / DE amended First Amendment to Economic Development Agreement with Joint Development Authority of Jasper County, Morgan County, Newton County and Walton County (effective 2023-09-26).

Action: amendment
Counterparty: Joint Development Authority of Jasper County, Morgan County, Newton County and Walton County
Effective: 2023-09-26

Exact text from the filing

FIRST AMENDMENT TO ECONOMIC DEVELOPMENT AGREEMENT This FIRST AMENDMENT TO ECONOMIC DEVELOPMENT AGREEMENT (this “Amendment”) is hereby made and entered into and effective as of the 26th day of September, 2023, by and among Rivian Horizon, LLC

View on SEC.gov

38 material agreements filed in the last 30 days. Browse all material agreements →

Rivian Automotive, Inc. / DE filing history →

Source: SEC EDGAR

accession 0001874178-23-000052

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.