According to the Associated Press, Missouri House members voted 92-51 in favor of the incentives package this week. Under the proposal, GM would qualify for up to $25 million in state tax credits if it were to invest $500 million into Wentzville Assembly over the next three years. The automaker would qualify for an additional $25 million if it made another $250 million in improvements over the same time period.
The incentives package is being pushed by Republican Missouri governor Mike Parson.
“We are excited about having the opportunity to sit at the table and be a part of negotiations to bring a huge investment to our state and the people of this state,” Parson said previously.
Reports that GM was looking to invest in the Wentzille plant first surfaced in late April. News later emerged that the plant did not have the investment locked in and Missouri was competing with a number of other states for GM’s business.
It’s not clear what the expansion could be for, however since GM seems open to making the investment in a plant other than Wentzville, it seems as though it is not related to mid-size truck or full-size van production.
Source: Associated Press