The Wentzville, Missouri plant is keen to attract General Motors’ rumored $1 billion investment, and the local government is working overtime to make it happen. According to MissouriNet in a Tuesday report, Missouri Governor Mike Parson has traveled to Wentzville to discuss legislation surrounding an incentives package for the automaker.
In addition, local CBS News affiliate KMOV4 reported the legislation includes $50 million in tax breaks for GM, should it decide to make the rumored $1 billion investment in the Wentzville assembly plant. Specifically, GM would receive $5 million each year for five years if the automaker invests at least $500 million. The tax plan would extend another five years with a larger investment in the assembly plant.
Lawmakers have scrambled to put together a package for GM as the current session for the state lawmakers ends on May 17th.
Wentzville builds four GM vehicles currently: the Chevrolet Colorado, GMC Canyon, Chevrolet Express, and GMC Savana. Initial reports pegged the investment as specifically tied to the Wentzville plant, but new information sheds light on the situation—Missouri is in competition with several other states for the investment. Whatever GM has in store can be done at another U.S. facility.
Lawmakers have said the investment wasn’t just about maintaining the current 4,600 jobs at the facility but adding new jobs to the community. One state senator said if another state wins the investment, GM may slash jobs at the Missouri assembly plant.
A GM spokesperson would not offer any other details on the investment, but said numerous factors go into building a business case. GM will wait for local and state officials to finish discussions and will also convene with the United Auto Workers union.