GM TO INVEST $45 Million Bedford Castings Plant
BEDFORD - NOVMEBHER 18, 2022 - According to General Motors Officials they will invest $45 Million to expand production at the Bedford Casting Plant.
The investment will be used to support the production of electric vehicles for the Silverado Electric vehicle, GMC Sierra Vehicle Electric Vehicle full-size pickup, and the investment will be used to retain 680 employees but there are no plans to add additional jobs.
The local plant laid of more than 70 full-time employees after their SPM productions was eliminated earlier this year. Those employees were offered varied positions throughout the corporation at other locations in the United States.
The GM Plant detailed plans to invest more than $51 Million at the 1 million square plant and a new building was constructed earlier, with $300,000 construction according to the Bedford Planning Department October permits issued.
The company will use the investments to install new equipment to support the drive unit castings production for the Silverado.
GM has made several investments over the last few years in the Bedford Plant totaling over $465 Million dollars since 2011.
" Our Bedford operation is one of the leading aluminum die casting facilities in the world and this additional investment is really an investment really an investment in the Bedford team and their commitment to excellence," said Phil Kienle, GM vice-president of North America manufacturing and labor relations.
"This investment helps build job security for our Bedford team for years to come as we continue to prepare our entire manufacturing footprint for an all-electric-future,"
Bedford Redevelopment Commission and Bedford City Council approved 100 percent 10 year tax abatement for the first year. With 15 percent of the tax abatement going the Beddford's RDC.
In September, General Motors says it has invest more than $500 Million to expand and upgrade operations in its Marion, Indiana Plant to support electric vehicle production.
General Motors plans to sell only electric vehicles by 2035.