Local Jobs Part Of GM's $2 Billion Expansion? 5-10-2011 - WNEM TV 5

Local Jobs Part Of GM's $2 Billion Expansion? 5-10-2011

General Motors said Tuesday it will add or keep 4,000 jobs in the U.S. over the next year and a half.
GM CEO Dan Akerson said that jobs will be added at 17 plants in eight states. He's made the announcement at a plant in Toledo, where up to 400 new workers will be hired.
The $2 billion investment is another sign that the automaker is recovering two years after its bankruptcy and a government bailout. GM reported its best profit in more than a decade last week, earning $3.2 billion in the first three months of 2011.
Akerson said he's confident about the economy and demand for new cars. Detroit News Now reported the $2 billion investment hinges on tax deals.
The Detroit-Hamtramck plant where GM builds the Chevrolet Volt may add as many as 2,000 new hires -- many could be from a pool of laid-off employees.
"If you add that multiplier -- seven times 4,000 -- that's 28,000 jobs that should come from our confidence in the reborn General Motors," Akerson said.
The Toledo plant is expected to receive $250 million in upgrades and at least 250 new hires.
It's unclear at this time if automaker will invest in any Mid-Michigan facilities, but GM leaders have already scheduled a news conference Friday morning at the Powertrain plant in Bay City.
Bay City's General Motors Powertrain facility is producing camshafts and connecting rods for the Chevrolet Cruze, with similar work scheduled for the Chevrolet Volt. In 2010, the Bay City plant received investments nearing $100 million.

Also last year, GM invested more than $230 million in four plants in the greater Flint-area to support the production of the same fuel-efficient cars, representing more than 500 jobs. The four GM plants included Flint Engine South, Flint Metal Center, Flint Tool & Die and Grand Blanc Weld Tool Center.
Since emerging from bankruptcy in July 2009, GM has invested $3.5 billion in moves that, according to the automaker, have created or retained 9,500 jobs, not including Tuesday's announcement.
Most recently, GM announced a $131 million investment in the Bowling Green, Ky., factory where the Chevrolet Corvette is built.
Earlier this month, GM reported a $3.2 billion quarterly profit, the automaker's fifth consecutive quarterly profit and its biggest in 11 years. It marked the first time since 2004 that all three major U.S. automakers were profitable at the same time.
Since the bankruptcy, GM has benefited from the combination of drastic cost reductions and a much improved, and much leaner, product line-up. Before bankruptcy, GM sold eight different brands of cars in the United States. Now it sells just four: Cadillac, Buick, GMC and Chevrolet.

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