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
Water Solutions Unlimited Plans Leitchfield, Kentucky, Manufacturing Plant
02/03/2023
White Drive Motors & Steering Expands Hopkinsville, Kentucky, Operations
02/03/2023
Kroger Establishes Miami, Florida, Spoke Facility
02/02/2023
South Korea-Based Seoyon E-HWA Plans Chatham County, Georgia, Manufacturing Plant
02/02/2023
Bottling Company International Plans Morrison, Tennessee, Operations Complex
02/01/2023
Engineered BioPharmaceuticals Expands Danville, Virginia, Operations
02/01/2023
Most Read
-
2022 Top States for Doing Business Provide an Environment for Business Growth
Q3 2022
-
Location Factors in the EV Industry — “Mission Critical” or “Nice to Have”?
2022 Auto/Aero Site Guide
-
How Are Economic Developers Partnering to Solve Workforce Challenges?
Q1 2023
-
Three Big Challenges Facing the Food & Beverage Industry
Q4 2022
-
Fixing the Supply Chain with AI and Robotics
Q4 2022
-
36th Annual Corporate Survey: Executives Focus on Labor, Energy, Shipping Costs
Q1 2022
-
18th Annual Consultants Survey: Access to Major Markets and Skilled Labor Are Clients’ Primary Concerns
Q1 2022