***************************************
GM Announces
Another $71 Million Investment In Ohio
General Motors said Monday it will invest $71 million into two manufacturing plants in Ohio.
The investments, which GM said would help it retain 240 jobs, include $39 million at the company's Toledo transmission plant and $32 million at its Defiance casting plant, according to an announcement from the company.
"The Toledo investment will be used to upgrade and enhance the production of GM’s eight-speed rear-wheel-drive transmission and the Defiance investment will be used to prepare the facility for future engine casting components work," the company said.
The news comes on the same day the state tax agency in Ohio ordered GM to repay $28 million in tax incentives connected to its former Lordstown Assembly Plant, according to The Columbus Dispatch.
GM, which made its Cruze sedan at the plant until last year, sold the Lordstown plant to a company that plans to produce its electric Endurance pickup there.
GM agreed as part of the Lordstown tax deal to invest $12 million in the area related to education and other programs. An unspecified amount of incentives were approved for a joint venture called Ultium Cells with South Korea's LG Chem to build a new battery cell plant in Lordstown. That $2.3 billion investment is supposed to generate more than 1,100 jobs.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.