General Motors Investing $2 Billion to Create and Retain Jobs ...

General Motors Company announced on May 10, 2011 it will be creating or preserving more than 4,000 jobs at 17 U.S. assembly and component plants in eight states with an investment of about $2 billion. The first of the new investments was announced last week for $131 million and about 250 additional jobs in Bowling Green, Kentucky.? Work on the project will begin soon that includes plant improvements and the installation of new equipment for production of the next generation Chevrolet Corvette while the current-generation Corvette will continue to be assembled for at least the next two model years.

General Motors Investing $2 Billion to Create and Retain Jobs-Image by Getty Images via @daylife

?We are doing this because we are confident about demand for our vehicles and the economy,? GM Chairman and CEO Dan Akerson said during an event at the 54-year-old Toledo Transmission Plant. ?This new investment is on top of $3.4 billion and more than 9,000 jobs that GM has added or saved since mid-2009.?? According to Akerson GM will invest $204 million to retain about 250 jobs for an all-new, advanced 8-speed automatic transmission for future vehicles that offer customers improved fuel economy and superior performance.

?During the first four months of 2011, GM?s U.S. sales are up 24.8% over last year and last week, the company reported its fifth-consecutive profitable quarter since emerging from bankruptcy reorganization in July 2009. UAW vice president ? GM Department, Joe Ashton said, ?The UAW?s goal has been to return all laid-off workers to active status and see the company begin hiring again.? These announcements will create and retain thousands of jobs and bring General Motors back to full employment of our hourly workforce.?

?General Motors will make announcements regarding specific facility investments over the next few months depending of completion of state and local incentives in some communities.? The nonprofit Center for Automotive Research indicates the ripple effect of GM?s planned investments will add almost $2.9 billion to the U.S. Gross Domestic Product and create or retain over 28,000 jobs.

Source: http://automotivediscovery.com/general-motors-investing-2-billion-to-create-and-retain-jobs/928426/

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