City Council members in De Soto have finalized a plan to offer tax incentives worth $200 million for Panasonic’s new electric vehicle battery plant. The agreement requires the company to help with public infrastructure projects, like roadway improvements and a new fire station. The agreement also says Panasonic must operate the facility until 2045 and employ at least 2,500 people.
De Soto Mayor, Rick Walker, says it’s a deal that benefits the city. He adds that with a big company coming to a little city, Panasonic could have come in and tried to, bully them, but they have been good throughout the process and he appreciates that. The state of Kansas offered the company $830 million in incentives to build its $4 billion plant in De Soto. Panasonic promised it would create about 4,000 new jobs. The factory is expected to open in 2025.
