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
Canfor Expands Fulton, Alabama, Production Operations
04/22/2024
Tucker Door & Trim Plans Henrico County, Virginia, Operations
04/19/2024
Zekelman Industries Expands Blytheville, Arkansas, Operations
04/19/2024
Fibrebond Corporation Expands Webster Parish, Louisiana, Operations
04/19/2024
Master Steel Expands Hardeeville, South Carolina, Operations
04/19/2024
L3Harris Technologies Expands Orange County, Virginia, Operations
04/18/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024