GM Announces $5.4 Billion US Investment
General Motors announced Thursday that it intends to invest a total of $5.4 billion into improving US manufacturing facilities over the course of three years. This includes a $783.5 million endowment to be split among three facilities in Michigan, with the remaining beneficiaries to be named throughout the year.
The Pontiac Metal center, from whence GM made the announcement proper, will receive $124 million. $139.5 million will be put toward a new body shop and upgrades to the pre-existing stamping facility at Pre-Production Operations in Warren, and another $520 million will be dedicated to tooling and equipment for future vehicle programs out of Lansing Delta Township Assembly—as well as retaining 1,900 jobs for Michiganders.
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“These investments are evidence of a company on the move, strategically investing in the people, tools and equipment to produce cars, trucks and crossovers that are built to win in the marketplace, with stunning design, quality and breakthrough technologies,” said GM North America President Alan Batey.
With $5.4 billion worth of investments, General Motors will be spending the equivalent of $5 million a day and $150 million every month for the next three years. Since 2009, GM has invested about $16.8 billion in upgrading and building facilities in the United States. This has resulted in 3,650 new jobs and increased job security for another 20,700 employees.
“General Motors is investing in Michigan—and Michiganders,” Gov. Rick Snyder said. “Our state’s automotive heritage and expertise is known around the globe, and GM and its workforce are a major part of that. We’re going to continue to ensure the best environment for GM, the auto industry and all other industries to grow and thrive, creating more and better jobs. That includes connecting and developing the talent to keep the economic engine running at full speed long into our state’s bright future.”