GM invests $356M in Flint, Saginaw and Grand Rapids engine/component operations; commits to $1B investment in Michigan by 2030
General Motors will invest more than $356 million in a new engine line in Flint and driveline and powertrain components in Saginaw and Grand Rapids, creating more than 50 jobs and helping to retain nearly 500 positions.
The Michigan investment announcements come on the same day as an amended agreement between GM and the Michigan Strategic Fund under the Michigan Economic Growth Authority (MEGA) tax credit program. As part of the amended agreement, which was approved by the Michigan Strategic Fund today, GM will invest $1 billion in Michigan by 2030. Today’s announced investment of $356.35 million represents more than one-third of that amount.
Since 2009, GM has made investment commitments in Michigan of more than $9 billion. During this time period, GM has far exceeded its original investment commitment under the MEGA Agreement. GM’s substantial investment in Michigan and the corresponding job growth and retention has contributed Michigan’s economic success since 2009.
Today’s announcement includes:
Flint Engine Operations: $263 million for a future engine program. The investment retains approximately 410 hourly and salaried jobs at the plant.
Saginaw Metal Casting Operations: $50 million for driveline components. The investment retains 68 jobs.
Grand Rapids Operations: $43.35 million for powertrain components. The investment creates 55 and retains 15 jobs.
Details pertaining to the engine programs and associated vehicles will be released at a later date.
Today’s announcement raises GM’s announced US-facility investment in 2015 to $7.1 billion, including $353.4 million announced recently in four other states:
- Bedford, Ind.: $127.4 million for engine components
- Bowling Green, Ky.: $44 million for increased engine capacity
- D-Max/Moraine, Ohio: $82 million for productivity improvements
- Defiance, Ohio: $100 million for engine components