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GM announces $2 billion investment and addition of 4,000 jobs at 17 U.S. plants

General Motors will invest about $2 billion in U.S. plants, creating or preserving more than 4,000 jobs at 17 facilities.

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General Motors employee Coianne Avant works on the assembly line at the Toledo Transmission Plant where GM announced a $2 billion investment in U.S. assembly and component plants, creating or preserving more than 4,000 jobs at 17 facilities across the country, Tuesday, May 10, 2011 in Toledo, Ohio. The Toledo Transmission Plant will receive a $204 million investment to retain about 250 jobs for a new 8-speed automatic transmission that will improve fuel economy and performance. (Photo by John F. Martin for General Motors)
John F. Martin
General Motors employee Coianne Avant works on the assembly line at the Toledo Transmission Plant, where GM announced a $2 billion investment in U.S. assembly and component plants, creating or preserving more than 4,000 jobs at 17 facilities across the country. General Motors

Since emerging from bankruptcy reorganization in mid-2009, General Motors has invested $3.4 billion and has added or saved more than 9,000 jobs. The U.S. automaker today announced an additional investment of $2 billion; an additional 4,000 jobs have been saved or created.

GM said it will invest $204 million in its Toledo transmission plant for production of a new eight-speed automatic transmission. The company didn't say which future vehicles would get the new transmission. GM

The announcement was made by GM Chairman and CEO Dan Akerson during an event at the 54-year-old Toledo Transmission Plant in Toledo, Ohio.

"We are doing this because we are confident about demand for our vehicles and the economy," Akerson said. The company also released an animated clip (after the jump) about how GM's investment will help the economy in Ohio.

GM last week announced an investment of $131 million and about 250 additional jobs in Bowling Green, Ky., Plant improvements and installation of new equipment to make the next-generation Chevrolet Corvette will begin soon, in addition to the current-generation Corvette.

Over the next few months, GM will make specific facility investment announcements dependent on successful completion of state and local incentives in some communities, GM said in a release.

According to the Center for Automotive Research (CAR) the ripple effect of GM's investments would add almost $2.9 billion to the U.S. Gross Domestic Product and create or retain more than 28,000 jobs.