Detroit Three Automakers Plan On Investing As Much As $2 Billion In Michigan

[Omaha Steve]

http://www.laborradio.org/node/14337

Submitted by Doug Cunningham on October 26, 2010 - 4:04pm
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The big three U.S. automakers are looking at reinvesting in the state that gave birth the auto industry. Jesse Russell reports:

GM, Ford, and Chrysler would invest as much as $2 billion into Michigan thanks to tax breaks from the state. The Michigan Economic Growth Authority said on Tuesday that the 2.1 billion in tax breaks will provide the auto companies with incentive to invest in 17 projects in the state. Ford’s credit is $909 million for 15 years. That’ll go toward providing new employment opportunities for auto workers and opening or reopening plants. Chrysler’s credit is for 20 years and is worth $1.3 billion. The early plans for the credit include plant upgrades and adding new shifts at currently operating shifts. GM had already received a tax credit for developing a hybrid battery plant in the state, but on Tuesday it was announced the credit will be expanded with an additional $25 million. That credit will likely see the addition of 4000 employees to the Detroit region.

[Sherman A1]

1. Good News Indeed.

I hope that this means some real livable wages for those who will be looking at those jobs.

My wife and I chose MI for a vacation this year for several reasons, but one was to try and kick in a few dollars to their economy.

[Crazy Dave]

2. The good and the bad is...

Detroit mostly assembles cars these days vs. manufacturing them, all the parts from bumper to bumper.