General Motors has taken yet another step to invest in the United States. We previously reported the automaker would announce a $1 billion investment into the U.S., but we now have the official details.
The automaker will invest $1 billion into “new vehicle, advanced technology and component projects,” which it states will add or retain 1,500 U.S. jobs.
Furthermore, GM will move full-size truck axle production for its next generation of pickups from Mexico to Michigan as it continues to streamline its production operations, a move that will create an additional 450 new jobs in the state.
GM CEO Mary Barra reflected on the recent investment stating the following:
As the U.S. manufacturing base increases its competitiveness, we are able to further increase our investment, resulting in more jobs for America and better results for our owners. The U.S. is our home market and we are committed to growth that is good for our employees, dealers, and suppliers and supports our continued effort to drive shareholder value.
We will continue our commitment to driving a more efficient business, as shown by our insourcing of more than 6,000 IT jobs that were formerly outside the U.S., streamlining our engineering operations from seven to three, with the core engineering center being in Warren, Michigan, and building on our momentum at GM Financial and in advanced technologies. These moves, and others, are expected to result in more than 5,000 new jobs in the U.S. over the next few years.
As stated above, GM expects 5,000 new jobs to be created in numerous fields, especially as truck and crossover segments remain hot areas for U.S. production.
Furthermore, GM said it is continuing to encourage its supplier base to follow its lead. The automaker’s strategy to create supplier parks adjacent to its facilities have reduced transportation costs and also helped promote job growth at home. In particular, GM confirmed one of its suppliers for the next-generation of full-size trucks will move its operations from Mexico to the U.S., bringing 100 jobs with it.
Upon tallying all the numbers, GM has invested over $21 billion in the United States since 2009, with $5.4 billion coming less than two years ago.