General Motors reportedly has $1 billion ready to sink into a production plant somewhere, for something. Missouri, naturally, wants that investment to secure employment at the Wentzville assembly plant and perhaps create new jobs while protecting the state’s supplier base.
A new report claims Missouri state officials feel pretty good about where they stand with GM and the possible investment. According to Missourinet.com, the State Department of Economic Development has discussions with GM every day. The department’s director, Rob Dixon, said he’s “very optimistic,” but discussions haven’t reached a finalizing point.
He said he expects GM to have a final decision very soon.
So far, we’re still in the dark over what the massive investment revolves around. GM has said on the record that it’s shopping other states for the investment as well. That leads us to believe this investment isn’t tied to commercial vans of mid-size pickup trucks. The Wentzville plant currently builds the Chevrolet Colorado, GMC Canyon, Chevrolet Express, and GMC Savana. With a background in commercial vehicles and trucks, it’s easy to assume this has something to do with a utility vehicle. GM also has plans for plenty of new electric cars, and this massive investment could have something to do with that, too.
In an effort to make Missouri even more attractive, the state recently passed legislation that provides GM with $5 million in tax credits over 10 years, for a total of $50 million in tax breaks. That catch is GM must invest at least $750 million in the state.