A few days ago we reported that GM is eyeing a possible $419-million investment to spruce-up and renovate the Warren Tech Center in Michigan. The investment would also retain 3,800 positions and add a further 2,600 well-paying jobs.
However, the company was looking to the city of Warren for a 12-year tax abatement–essentially a tax exemption–before it moved ahead with further planning.
Ask and you shall receive, apparently– the council unanimously passed the proposal and now GM has been granted a 12-year tax “shield” on the possible construction and additions, according to WDIV News in Detroit.
The council wanted to insure that it would be protected if the abatements were approved. As a result, it tacked on benchmarks for the investment, which were also roundly endorsed.
Even though the tax deal is approved, the General is yet to confirm or officially announce the new expansion. However, with the tax abatement fully accepted, we expect it will move on a decision shortly.
“What this project does, or what it would do if it moves forward, would be to allow us to completely renovate the Tech Center and bring the facility back to a world-class technical center which it once was,” GM Spokesman Dan Flores told the news outlet. “That’s great for current employees and great for us to have the ability to attract future talent.”
GM could make the big announcement any day now. For more, have a look at the video below.