Nissan Motor planning to invest $1.5 billion to build a factory in Brazil

A Nissan representative in Brazil confirmed plans for a factory in the country producing around 200,000 vehicles annually.

Brazil's government said this month it was raising taxes on imported autos to encourage greater investment in the country's car industry. The national automakers' association Anfavea sees the measure spurring investments, currently estimated at $19 billion in the five years through 2015.

Brazil is a key growth market for the world's biggest automakers, including Italy's Fiat SpA, Germany's Volkswagen AG and U.S.-based General Motors Co and Ford Motor Co.

Nissan and other Asian automakers still lag those big four producers in Latin America's largest economy, but are increasing their presence, including planned factories for Chinese brands Chery and JAC Motors.

A new factory would allow Nissan to ramp up growth in the world's fourth-largest auto market, where it currently shares a plant in Parana with French partner Renault SA.

Nissan sold nearly 37,000 cars and light trucks in Brazil through August this year, compared with nearly 20,000 in the first eight months of 2010, making it the country's No. 12 carmaker by sales, according to dealer association Fenabrave.

Here's my idea for downtown Jacksonville development... Care to share yours?

Brazilians spent 10 billion dollars overseas in 2010, just in credit card, a 54% increase from previous year. For years now, Brazilians have been flying to Miami and Orlando, sometime over a weekend just to go shopping. In fact, after TAM airlines started their direct service from Brazil to Orlando the malls in the city of Orlando saw a double digit increase during the first quarter of 2011. My suggestion would be to provide a plan with incentives and turn downtown into an attractive shopping area linked to themes of different countries that already connect via JAXPORT, a combination of niche products, brand names and general consumer goods for tourists and local residents wanting to experience different cultures without leaving Jacksonville. Selecting areas around downtown and converting into a free trade for products purchased there and combining with the attractive attraction of a multi-cultural visual experience with stores, restaurants, etc. would bring locals and tourists to the downtown area.

What's your opinion?