General Motors Plans Significant Investment at Detroit, Michigan Assembly Plant
01/23/2020
According to state officials the investment will eventually result in new employment opportunities at the facility and elsewhere in the state.
To support GM’s commitments, the Michigan Strategic Fund approved amendments including:
Requiring GM to invest at least $3.5 billion in Michigan over the next 10 years, including an investment at the Detroit Hamtramck facility;
Reducing the maximum credit benefit on the remaining value of the company’s Global Retention MEGA credit term by $325 million for a remaining credit value of $2.27 billion;
Adding annual caps for the remaining credit term through Dec. 31, 2029;
An agreement to terminate the company’s MEGA credit at its Brownstown Township facility, reducing the state’s liability by $4.1 million;
Increasing the average weekly wage from $650 to $1,300 statewide for the remaining credit term and allowing for statewide job retention rather than limiting it to certain locations.
Project Announcements
Little Leaf Farms Plans Coffee County, Tennessee, Production Operations
07/02/2025
White Rock Truss & Components Expands Lee County, Virginia, Operations
07/02/2025
Fox Tank Company Plans Coshocton, Ohio, Operations
07/02/2025
Ascentek Expands Shreveport, Louisiana, Operations
07/02/2025
ProBio Establishes Hopewell, New Jersey, Gene Therapy Operations
07/02/2025
22nd Century Technologies Expands Fairfax County, Virginia, Headquarters Operations
07/02/2025
Most Read
-
20th Annual Area Development Gold and Silver Shovel Awards
Q2 2025
-
First Person: Joe Capes, CEO, LiquidStack
Q2 2025
-
The Legal Limits of DEI in Incentives Agreements, Hiring, and Contracting
Q2 2025
-
From Silicon to Server: Mapping the Data Center Supply Chain
Q2 2025
-
39th Annual Corporate & 21st Annual Consultants Surveys: What Business Leaders and Consultants Are Saying About Site Selection
Q1 2025
-
Rethinking Life Sciences Site Selection in a Resilient and Dynamic Market
Q2 2025
-
First Person: David Robey, Co-CEO of QTS Data Centers
Q2 2025