Hyundai Incentives

State officials have agreed to spend more than $1 million to buy 93 acres adjacent to the Hyundai Motor Company site off of Interstate 65 south of Montgomery.

Governor Siegelman said that the additional 93 acres is needed to build a rail facility for Hyundai.

The Alabama Incentives Financing Authority agreed to sell bonds to finance purchase of the land. The state will also have to spend an estimated $200,000 to fill a small creek on the property.