Volkswagen and Canada outlined a finance plan worth roughly $14.8 billion on April 21 to build a battery giga-factory in St. Thomas, Ontario, the biggest single investment to date in Canada’s electric-vehicle supply chain industry according to Al Jazeera.

Volkswagen will be investing about $5.1 billion to build the plant, while the Canadian government will provide the company with a $9.7 billion tax credit over the next nine years. Ontario’s provincial government will also be contributing $371 million as a direct investment in the German carmaker.

The battery plant, which is planned for 2024, will reportedly be directly responsible for the creation of up to 3,000 jobs. Production at the plant is projected to begin by 2027, according to Volkswagen.

“It will provide millions upon millions of batteries to power Canada’s auto industry… and the economic impact of this project will be equal to the value of government investment in less than five years,” said Canadian Prime Minister Justin Trudeau.

According to Trudeau, the plant will be Canada’s largest factory upon completion.