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GM Expansion To Save Or Create 4,200 Jobs

05/10/2011 4:06 pm 0 comments

Source: Peter Valdes-Dapena / CNN Money

New York – General Motors will invest $2 billion across 17 auto plants in the United States in a move that’s expected to save or create about 4,000 jobs, the automaker announced Tuesday.

GM CEO Dan Akerson made the announcement at a factory in Toledo, Ohio, where the automaker will build a new 8-speed transmission.. GM will invest $204 million in the plant in preparation for making that new transmission and will add or save about 250 jobs.

Announcements of other plant investments will come over the next several months, the automaker said, as tax and incentive plans are negotiated with city and state governments. Most of the investments will be in Midwest states, Akerson said.

Each job at a GM added or saved at a GM factory really means seven jobs, Akerson said, when jobs at supplier companies and at stores and businesses reliant on GM employees are included.

“If you add that multiplier — seven times 4,000 — that’s 28,000 jobs that should come from our confidence in the reborn General Motors,” Akerson said.

To read this article in its entirety visit CNN Money.

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