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.

Go deeper: Auto workers union reaches tentative deal with GM to end labor strike

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Coronavirus dashboard

Illustration: Aïda Amer/Axios

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  2. U.S.: Total confirmed cases as of 11:30 a.m. ET: 2,841,124 — Total deaths: 129,689 — Total recoveries: 894,325 — Total tested: 34,858,427Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona hot spot near capacity.
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  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
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