Dec 14, 2019

General Motors to invest $1.5 billion into Missouri plant

Rashaan Ayesh

The General Motors Wenztville Assembly sign — Photo: Michael B. Thomas/Getty Images

General Motors announced plans to invest $1 billion to revamp its plant in Wentzville, Missouri, plus an additional $5oo million for supplier tooling and machinery, the Detroit Free Press reports.

Why it matters: This investment is part of GM's 2019 contract with the United Auto Workers union, in which the automaker promised to invest $7.7 billion in U.S. facilities and create or retain 9,000 jobs over the next four years, per the Free Press.

The investment will allow 4,000 manufacturing jobs to stay in the area, but won't add any new positions, the Free Press notes, per a company spokesman.
Missouri was competing with other states to keep and expand the plant, which will manufacture the Chevrolet Colorado and GMC Canyon. The Missouri legislature passed a bill allowing GM to receive up to $50 million in tax credits over 10 years if the company invests $750 million to expand the Wentzville plant. The company did not provide additional details on the tax credits.

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General Motors to invest $1.5 billion into Missouri plant

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