BEDFORD - JULY 18, 2023 - GM officials told the Bedford City Council that the company has over 700 employees and is grateful for the investment the city has given to the company.
The GM Powertrain invested more than $465 million in the Bedford plant since 2011.
Jason Wetzel and Corinne Romanowski gave Bedford City Council members an update on the six tax abatements given to the company over a period of several years.
In July, 2022 the Bedford City Council approved a ten year- 100 percent tax abatement to be used as a selection process with the casting operation location around the United States for a $45 Million electric vehicle operation.
With General Motors Corporation begins its electric vehicle production, the casting locations will be needed to help implement the company's plans.
The proposal was a job retention project, training current employees on how to assemble the needed equipment.
General Motors plans to start their operations in 2025.
15 percent from the tax abatement given to the company will be given to the Bedford Redevelopment Commission per the Indiana statue for redevelopment purposes.
The following tax abatements given to GM Corporation by the City of Bedford include:
Personal property - Furnish and install machinery, equipment and special tooling to produce aluminum block castings - this is for small engines and this segment of the business was doing well according to reports in 2022, this tax abatement was given in 2014
Personal property - Furnish and install machinery, equipment, and special tooling to support Die casting for various products -
Personal property - Furnish and install machinery, equipment, and special tooling to support Aluminum Block Castings - This includes 6,8,10 speed transmissions.
Personal property - Equipment and tooling to produce mold head castings - 2010 tax abatement
Personal property - Equipment and tooling to produce mold head castings - 2011 tax abatement
General Motors Corporation has invested over $108 million in the Bedford plant since 2010. The property tax generated by GM was at $1.7 Million in 2022, contributing to all levels of government.
There were two round of layoffs at the Bedford GM Powertrain Plant over the last year.
In August 2022 the first round of layoff, employees were told it would not affect them because of the tax abatements the City of Bedford who invested $45 million in the Bedford facility.
General Motors plans to sell only electric vehicles by 2035.
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