General Motors is preparing to announce yet another major investment in the United States and its facilities. The Detroit News reports the automaker will announce a $1 billion investment into its U.S. plants and create 1,000 new jobs in the process.
Sources close to the automaker’s plans state the investment has been in the pipeline and is not a direct response to criticism from President-elect Donald Trump. Further details surrounding where the investment monies will go is not known at this time.
It’s a fair assumption this investment may surround future crossovers and the plants responsible for building them, knowing GM has laid off thousands of employees from a handful of plants that build passenger cars. The automaker cut a shift at the Detroit-Hamtramck assembly, shedding 1,270 jobs, and laid off a third shift at the Lansing Grand River assembly, cutting 2,000 hourly workers due to slow passenger car sales.
GM most recently announced a $900 million investment for its Toledo, Ohio, Lansing, Michigan, and Bedford, Indiana operations the same day it announced the shift cuts.
Less than two years ago, GM also invested $5.4 billion into U.S. manufacturing operations across numerous U.S. facilities.
Comments
If not for Trump no one would have heard about this or even cared.
Companies will be much more careful with their action to avoid public scrutiny. Mission accomplished,
This is good news.
It is probably true that his was planned but the announcement is much more public. In the past this would have been in the business section and over looked.
The truth is all the companies are on notice now and understand that they need to consider the fall out of any moves they make going forward. This could be a real factor moving forward.
Two things are in play. One there may be taxes or other issues they face with importing products. They also are now being shown that the government will work with them to make it easier to do bushiness here. So this is not some forced Presidential decree it is a deal where we will help you out here if you bring the jobs back and we are going to make it tougher if you take them out of the country.
Before no one was doing anything if they left and doing nothing to get them to even just bring the money back. Right now much of the money made outside the country stays outside as it is too costly to bring it back.
Our believers of the far left talking points will not be happy but what have their people done for us in the last 8 years but to distort the numbers of employed and given us some of the slowest growth we have ever seen while China steals our technology and undervalues their money to gain a upper hand on our economy.
Thank you Mr. Trump!