General Motors may be in line for a healthy financial incentive for making much-needed investments in the Oshawa and St. Catharines facilities. The Canadian government (Ontario and Ottawa) are reportedly willing to offer more than $200 million for investing, according to The Globe and Daily Mail.
The federal government’s Automotive Innovation Fund and Ontario’s Jobs and Prosperity Fund offer up to 20 percent to automakers that invest in or create new sites in the country or region. According to the report, if the entire investment qualifies, GM could receive $220 million.
GM Canada has reportedly been discussing financial numbers to “optimize competitiveness for the future.”
“We are exploring how to build an advanced manufacturing footprint that sets new standards for innovation, quality flexibility productivity and environmental sustainability,” GM Canada President Stephen Carlisle said. “Our governments understand the importance of this opportunity.”