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GM to invest $370 million in Volt engine plant
GM to invest $370 million in Volt engine plant
GM’s Chairman and CEO Rick Wagoner announced that GM will invest $370 million in a new manufacturing plant, located in Flint, Michigan. The 552,000-square-foot plant is expected to be ready in 2010, will create 300 jobs and will build a 1.4 liter turbo engine for the recently announced Chevrolet Cruze and a 1.4 liter engine for the Chevrolet Volt.
Wagoner said “We are confident that Flint is exactly the right place to build our all-new powertrain plant,” while Gov. Jennifer Granholm added “Our competitive business climate, outstanding work force and aggressive strategy to diversify our economy put us in a strong position to win this project and be the state that helps GM produce the cars and trucks that will help end our nation’s dependence on foreign oil.” Actually, things aren’t going very well for the Flint community. Currently, GM employs about 6,000 workers in five facilities located here, but that’s a huge drop, considering that once there were 60,000 GM employees here.
With this investment, GM (which will receive millions in tax incentives to build the Volt) totals $9 billion invested in Michigan in the last 10 years and more than $42 billion in the U.S.
Source: The Detroit News
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