GM investing 2 billion in US plants, creating/preserving 4,000 jobs
During a presentation at the Toledo Transmission Plant, GM CEO Dan Akerson announced that the 54 year old Ohio facility would be receiving $204 million in tooling and upgrades to prepare for production of GM’s new 8-speed automatic transmission. Akerson spoke before a group that included the media, UAW members, Ohio Governor John Kasich Ohio Rep. Marcy Kaptur, D-Toledo, and Toledo Mayor Michael Bell – announcing the big news for roughly 250 workers whose jobs are saved by this investment.
The announcement of the $204 million investment in the Toledo Transmission Plant is actually the second move included in the recent $2 billion in planned factories improvements. Last week, GM announced that they would be spending $131 million to prepare the Bowling Green production facility to produce the next generation of the Chevrolet Corvette. Then early this week, General Motors also announced that they would spend $3 million to add a high tech solar panel system to the Chevrolet Volt Detroit Hamtramck production facility. You can read more about that by clicking here.
Akerson pointed out during his speech that this $2 billion investment in production facilities around the US is the second massive chunk of change laid down by GM, as the company has spent $3.4 million since 2009 – saving or creating 9,000 jobs during that time. According to the Center for Automotive Research, the ripple effect of the latest $2 billion in funding for these plants will add almost $3 billion to the US gross domestic product while creating or preserving around 28,000 jobs.