This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission.
General Motors Co. (NYSE: GM) confirmed just this morning that it will invest an additional $1 billion in its U. S. factories this year.
On top of that, the Detroit automaker stated it intends to add 7,000 new jobs over the next few years while moving some parts production from Mexico back to the States. Those plants south of the border were handled by a separate supplier, GM made sure to note today, meaning they were not direct franchise establishments belonging to the automaker.
These new GM investments add to the $2.9 billion the company announced in July 2016 to put toward its U. S. operations. Before those two efforts, GM had invested a total $21 billion in U. S. operations since 2009. In the past four years, GM has created 25,000 U. S. jobs, including 6,000 hourly manufacturing positions, and added nearly $3 billion in annual wages and benefits to the U. S. economy, according to the company’s website.
This post was published at Wall Street Examiner on January 17, 2017.
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