Saturday, May 23, 2015

FORT WAYNE GM PLANT- BILLION DOLLAR BABY

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http://www.news-sentinel.com/apps/pbcs.dll/article?AID=/20150523/NEWS/150529875/1005/FOOD
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Source: Local GM plant to receive billion-dollar upgrade

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Announcement could come Tuesday

By Kevin Leininger of The News-Sentinel
Saturday, May 23, 2015 - 12:01 am
Fort Wayne's General Motors plant will receive about $1 billion in improvements, with sources indicating an official announcement will come Tuesday.
As The News-Sentinel first reported last October, the plant in southwest Allen County -- which opened in the mid-1980s -- was in the running for the massive investment, which was expected to include a new paint shop and a significant addition to the existing plant.
"We want to position the plant as GM looks for the most efficient way to do things. We're trying to make the best case (for Fort Wayne)," plant spokeswoman Stephanie Jentgen said at the time. Now a source indicates the investment will be about $1.2 million, although the number of additional jobs to be created -- if any -- was unknown. Jentgen said last year that the upgrade, if approved, would ensure the plant's future viability and protect its current workforce of more than 4,100 and annual payroll of $324.6 million.
GM last month said it would invest about $783.5 million in three southeast Michigan plants as part of a $5.4 billion upgrade of its U.S. facilities over three years. The Fort Wayne plant was not mentioned, but Jentgen said at the time she remained optimistic. The automaker has invested about $16.8 billion in the U.S. since emerging from bankruptcy in 2009.
In hopes of securing the investment that now appears imminent, Allen County Council last year approved a tax phase in -- also known as an abatement -- that could save the company $53 million over 10 years. Other incentives could also be part of the package announced Tuesday.
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