Big Three automaker plans $43M investment in plant
A Big Three automaker is planning to invest more than $43 million in a plant in the area to support a new components line.
General Motors said today that it plans to create 55 jobs and retain 15 positions at its Grand Rapids Operations plant in Wyoming, at 2100 Burlingame Ave. SW, as a result of the $43.35-million investment to produce powertrain components.
GM said details about program timing and applications will be released at a later date.
“This investment signifies a commitment to the men and women of Grand Rapids Operations,” said Rick Demuynck, plant manager, Grand Rapids Operations.
Grand Rapids Operations currently employs 530 workers.
The plant makes a variety of precision-machined components for Buick, Chevrolet, GMC and Cadillac vehicles: lash adjusters, roller hydraulic valve lifters, cylinder de-activation lifters, continuously variable cam phasers and metal stampings.
$1B investment in Michigan plants
The announcement today was part of a larger investment plan by General Motors in the state.
The automaker said it also plans to invest $263 million at its Flint plant to support a new engine line program and $50 million at its Saginaw plant for driveline components.
General Motors will invest a total of $356 million in the three Michigan plants.
"These investments will better position GM and its workforce to produce high-quality engines and components for customers who demand greater fuel efficiency and performance from our vehicles," said Bill Shaw, manufacturing manager, GM North America.
The Michigan investment announcement comes on the same day as an amended agreement between GM and the Michigan Strategic Fund under the Michigan Economic Growth Authority, or MEGA, tax-credit program.
As part of the amended agreement, which was approved by the Michigan Strategic Fund today, GM will invest $1 billion in Michigan by 2030.
Today’s announcement represents one-third of the amount.
Michigan Gov. Rick Snyder said GM’s MEGA tax-credits agreement “helps Michigan’s budget forecast.”
“The fact that GM is committing to invest $1 billion by 2030 here is even better news,” Snyder said. “It’s a globally competitive environment, and GM’s announcement shows it appreciates that Michigan is a comeback state with a skilled workforce and exciting expansion opportunities.”
Today’s announcement raises GM’s “announced U.S.-facility investment in 2015” to $7.1 billion.