GM announces major investment at Toledo plant
GM has announced it will make major investments in three Ohio plants. Jobs and money are coming to the Toledo plant.
A total of 450 jobs will be added to plants in Parma, Moraine and Toledo. The automaker will also pump $700 million into the three plants.
At this point GM will not provide a specific breakdown of how much money or how many jobs will go to each plant. However a company spokesman tells us that Toledo will get the largest portion of the investment and jobs.
The Toledo investment will be used to expand the new 10-speed transmission lines. The new transmission is used in trucks and SUVs.
GM leaders say the strong American economy is the driving force behind the investment. Most of the jobs will be added this year with the rest in 2020 and 2021.
GM has invested about $1 billion at the Toledo plant since 2011, and that is before today's announcement.