Lordstown Motors Corp. Receives Tax Credit Authority Approval

Hub motor and battery line to support project will bring 1,570 jobs to the Mahoning Valley area

Lordstown Motors Corp., a leader in electric light-duty trucks focused on the commercial fleet market, moved another step forward in its plans to produce the Lordstown Endurance, the world’s first full-size, all-electric pickup truck, as the Ohio Tax Credit Authority approved the project for tax credit assistance today at its meeting. The Authority’s approval to support the hub motor and battery line helps accelerate the timeline of this project, which is expected to bring 1,570 high-tech jobs to the Mahoning Valley and surrounding communities.

“From day one, Lordstown Motors was designed to represent the tough, gritty, hardworking people that have maintained this community for more than 50 years,” said Lordstown Motors CEO Steve Burns. “We are not just here to build electric vehicles, we are here to impact this region, by providing innovative and sustainable technology and resources.”

The Lordstown Endurance takes Lordstown Motors closer to the vision Burns announced after the purchase of the previous General Motors plant in 2019: turning the area into “Voltage Valley.” Lordstown Motors Corp had choices when it came to selecting a site for its Endurance production, but chose Northeast Ohio’s favorable ecosystem, including a built-in workforce that knows how to build cars, the availability of the GM plant and a training program developed with Youngstown State University.

“Electric vehicles are part of the automotive industry’s future, and Lordstown Motors’ Endurance will be one of the first of its kind, built by talented workers in the Mahoning Valley,” said Governor Mike DeWine. “We share Lordstown Motors’ long-term vision of a ‘Voltage Valley’ that will make Ohio a leader in advancing automotive technology.”

A cross-organizational team including the Ohio Development Services Agency, JobsOhio, Team NEO, the Youngstown/Warren Regional Chamber, the village of Lordstown and Youngstown State University, plus state and regional representatives, worked with LMC to help bring the project to fruition. Some members of the collaborative team shared insights below.

Lt. Governor Jon Husted: “Lordstown’s production of the Endurance all-electric pickup truck has huge potential to drive economic growth and job creation in the Valley and Ohio. This project also marks a significant step in positioning Ohio to compete for future EV investments and jobs.”

JobsOhio President & CEO J.P. Nauseef: “Lordstown Motors’ plans to bring jobs to more than 1,500 Ohioans who will build the world’s first all-electric pickup truck of its kind at this former GM facility. Ohio and the Mahoning Valley will be a worldwide hub for mass production of electric battery cells and vehicles such as the Endurance that will drive the automotive sector’s future for decades to come.”

Lydia Mihalik, Chair of the Ohio Tax Credit Authority and Director of the Ohio Development Services Agency: “When companies hire Ohioans, they are adding hard-working, dedicated people to their team. That’s why the Endurance will be made in the Mahoning Valley.  With this investment, Ohio will be a leader in electric vehicle production.”

Team NEO CEO Bill Koehler: “Manufacturing and the auto industry have a great legacy in the Mahoning Valley area – perhaps more importantly, they have a great future in this region. We are grateful to Lordstown Motors for having the confidence in the assets and capabilities of Northeast Ohio’s manufacturing ecosystem – as well as our skilled workforce – to produce this groundbreaking vehicle here. The production of the Lordstown Endurance, along with the company’s vision for ‘Voltage Valley’ is a powerful example of how Northeast Ohio manufacturers are significantly ahead of the curve in leveraging new and innovative technologies to become more competitive.”

Youngtown/Warren Regional Chamber COO and Senior Vice President of Economic Development Sarah Boyarko: “With today’s approval, we’re one step closer to the start of production for the Endurance. We are pleased that Lordstown Motors Corp. recognized the value that our market has to offer and are excited about the continued growth we’re seeing in the electric vehicle industry, of which Lordstown Motors Corp’s investment is a vital part. Because of companies like LMC, the Valley continues to be in the spotlight.”

Village of Lordstown Mayor Arno Hill: “The Village of Lordstown, in working with Team NEO and the State of Ohio, appreciates the Lordstown Motors Job Creation Tax Credit that was approved. This is a big help for northeast Ohio in our drive to bring manufacturing jobs back to our region.”

Youngstown State University President Jim Tressel: “It truly is a magical time as we work together to transform the Mahoning valley into Voltage Valley. Blessed with the vision and leadership of Lordstown Motors, it is exciting for YSU to be a part of the eco-system that includes JobsOhio, Team NEO, the Youngstown/Warren Regional Chamber, all of our education partners, and so many others, as we seek to “Take Charge of Our Future!”

Senator Sean J. O’Brien, Ohio Senate District 32: “Governor DeWine’s announcement today is exciting news both for Lordstown Motors and the 32nd Senate District. I am proud to have worked with Lordstown Motors from the beginning to help bring electric vehicle manufacturing to the Valley, and look forward to seeing all the ways it will continue to benefit people here for years to come.”

Representative H. Gilson Blair, Ohio House District 63:  “I am very pleased to see Lordstown Motors moving towards production. I believe the product has promise the electric vehicle market and the Mahoning Valley.”

Senator Michael Rulli, Ohio Senate District 33: “I commend Lordstown Motors and others who recognized the value of the Mahoning Valley and have made good on their commitment to invest in the people and future of this state. I couldn’t be prouder to represent the people of the 33rd District. Together, we have fought for strong economic policies that have brought jobs and life back to the hard-working families in Northeast Ohio.”

About Lordstown Motors Corp.

Lordstown Motors Corp. is an Ohio-based original equipment manufacturer of light-duty fleet vehicles, founded by CEO Steve Burns with the purpose of transforming Ohio’s Mahoning Valley and Lordstown, Ohio, into the epicenter of electric-vehicle manufacturing. The company owns the 785-acre, 6.2 million-square-foot Lordstown Assembly Plant, where it plans to build the Lordstown Endurance, believed to be the world’s first full-size, all-electric pickup truck designed to serve the commercial fleet market. For additional information, visit www.lordstownmotors.com.

About the Youngstown/Warren Regional Chamber

The Youngstown/Warren Regional Chamber (Regional Chamber) is a private, non-profit organization that provides leadership and business services to promote the growth of our 2,400 members—representing more than 125,000 employees in the Valley. Membership with the Regional Chamber provides exclusive member perks like cost-saving discount programs and services that help businesses maximize their bottom line. The Regional Chamber also supports local expansion, attraction of new investment and job creation in the two-county area by providing services such as site selection, customized research and program coordination. The team is currently managing more than $1.5 billion of pending investment that is expected to be announced over the next 12 to 24 months. For more information, visit regionalchamber.com.

About Team NEO

Team NEO is a private, nonprofit economic development organization accelerating business growth and job creation throughout the 18 counties of Northeast Ohio. As the designated JobsOhio Network Partner, we align and amplify local economic development efforts in Northeast Ohio’s 18-county region; we conduct research and data analysis to inform local conversations and influence solutions; we market Northeast Ohio as a region; and we work to increase access to jobs, education and training for the region’s 4.3 million people. For more information, visit teamneo.org.

About JobsOhio

JobsOhio is a private nonprofit economic development corporation designed to drive job creation and new capital investment in Ohio through business attraction, retention and expansion. The organization also works to seed talent production in its targeted industries and to attract talent to Ohio through Find Your Ohio. JobsOhio works with six regional partners across Ohio: Dayton Development Coalition, Ohio Southeast Economic Development, One Columbus, REDI Cincinnati, Regional Growth Partnership and Team NEO. Learn more at www.jobsohio.com. Follow us on LinkedIn, Twitter and Facebook.