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Tuesday, July 14, 2015
GM to reveal details of $1.3B expansion to Arlington plant
General Motors Co. (NYSE: GM) will announce much-anticipated plans for a $1.3 billion expansion to its Arlington plant at an event Tuesday.
In April, the carmaker received $30 million in incentives from the Arlington City Council, one of the largest packages the city has ever offered. Under the deal, GM will receive the money over 10 years in exchange for employing 3,179 workers, less than the 4,100 already employed.
The incentives sweetened the deal for the growth to GM’s existing 61-year-old SUV factory in the city. While GM has not given details on what the project will entail, it has said the work will provide roughly 600 jobs, involve around $1 billion in equipment and $300 million in construction. After building is complete, around 1.2 million square feet will be added to the factory floor.
“GM is developing a business case for a potential future investment at Arlington Assembly,” said company officials in a statement issued in April. “An investment would fund facility improvements aimed at strengthening the plant’s manufacturing capability.”
The company will elaborate on its expansion plans at an event to be held at 1 p.m. Tuesday at the plant.
The plant manufactures GMC Yukons, Cadillac Escalades and Chevrolet Suburbans. GM saw its SUV sales rise by more than 50 percent in first quarter 2015 over the same period if 2014.