City officials in Arlington, Texas will vote Tuesday evening to approve incentives for General Motors' $1.2-billion expansion of Arlington Assembly.
Mayor Robert Cluck says the incentive package – including a reduction of real estate and business taxes by 80 percent over 10 years and waived construction and development permits – is in exchange for an expansion that would add 589 jobs to the factory, Detroit Free Press reports. Cluck added that his city "had a beautiful relationship with General Motors," and sees no issue with the package being passed.
In addition to the new jobs, the plan would add 1.2 million square feet and approximately $1 billion in equipment to the factory floor, with $300 million going toward building improvements for the 60-year-old facility that assembles Chevrolet's Tahoe and Suburban SUVs, as well as GMC's Yukon and Yukon XL models, and Cadillac's Escalade. A spokeswoman for GM declined to offer anything more specific about the plans, claiming that the automaker had "nothing to announce at this time."
The expansion comes as demand for the aforementioned SUVs have climbed 51 percent in Q1 2015 when compared to the same period in 2014. The demand has the 4.4 million-square-foot factory operating on three shifts six to seven days per week just to keep pace.
[Photo credit: Chevrolet]
The post City Officials Ready To Approve Incentives For Arlington Assembly Expansion Plan appeared first on The Truth About Cars.
from The Truth About Cars http://ift.tt/Jh8LjA
Put the internet to work for you.
No comments:
Post a Comment