New York Governor Announces GM To Invest $425 Million In Buffalo
Statement from Governor Paterson on GM’s $425 million investment in the future of Tonawanda powertrain plant.
“I am delighted to join General Motors (GM) in Western New York to announce a major investment in the Tonawanda Powertrain plant, which will retain 470 jobs as well as countless jobs at local businesses and suppliers.
“GM will invest $425 million, retrofitting Tonawanda Powertrain to manufacture the next generation of fuel efficient Ecotec engines and positioning the plant as a leader in GM’s transformed product portfolio. This announcement will secure the longevity of Western New York’s vital automotive industry. The addition of two new engine lines will help boost the local economy, establishing this region’s historic manufacturing industry as a critical location of the manufacturing of the future.
“I am pleased to have been able to secure $7 million in State support, as well as vital low-cost hydropower through the New York Power Authority. Even in today’s challenging economic circumstances, we must continue to make investments to leverage private dollars that will make the difference in putting New York’s economy on the path to recovery.
“I’d like to thank GM and all of our partners, including the plant’s highly skilled and dedicated workforce, for bringing this critical project through to fruition. This is a great day for GM, for Tonawanda and for New York’s manufacturing industry as a whole. GM’s investment in their Tonawanda Powertrain plant further signals that Western New York is a place where businesses thrive.”
Topics: 2010, automotive industry, buffalo, business, Chevy, economic development, economic growth, economic recovery, Ecotec engines, employment, fuel efficient, General Motors, GM, GM cars, GM parts, GM trucks, GMC, Governance, government, Governor Paterson, hydropower, investment, jobs, local businesses, New York, New York Power Authority, news, NYPA, powertrain plant, product portfolio, recession, small business, suppliers, Tonawanda, Tonawanda Powertrain, U.S., United States, Western New York, workforce
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