Missouri Governor Signs Bill Giving GM $50M In Tax Breaks For Possible Wentzville Investment

Missouri Governor Signs Bill Giving GM $50M In Tax Breaks For Possible Wentzville Investment

?2
by Sean Szymkowski
— Jul 11, 2019

GM Wentzville Plant Assembly 002

General Motors will receive a sweet deal in Missouri, should it choose the Wentzville assembly plant for a rumored $1 billion manufacturing investment.

Governor Mike Parsons signed a piece of legislation on Wednesday that award GM $50 million in state tax incentives over a 10-year period on one condition—GM must invest at least $750 million in the Wentzville plant, The St. Louis Post-Dispatch reported.

GM Wentzville Plant Chevrolet Express GMC Savana production 001

As mentioned, the rumored investment GM has waiting is a sum of $1 billion. It’s unclear what the automaker has planned with the investment, but we previously speculated it’s not specifically tied to trucks and vans since GM is shopping around other states to choose the right area.

In Wentzville, GM builds the Chevrolet Colorado, GMC Canyon, Chevrolet Express, and GMC Savana. Currently, the plant employs 3,500 workers, and according to the governor, the investment would at least retain each position with the possibility for new jobs created. Not only does Wentzville employ 3,500 people, but the plant is also an anchor for 12,000 supplier jobs through Missouri.

GM Wentzville Plant Assembly 010

GM hasn’t officially awarded the investment to Missouri yet and told the newspaper it’s still weighing all of its options in other states.

“This action is a step in the right direction, but GM is still evaluating the overall business case for this potential project and has no announcements to make at this time,” the company said.

GM Wentzville Plant Assembly 004

Although proponents of the tax breaks said they favored the plan to keep jobs, members of a block of St. Charles County Republicans continued to argue against the tax breaks. Opponents said it creates a “slush fund” with little to no oversight. This same block held up the bill in the state legislature before it eventually passed and moved to the governor for signing.

Subscribe to GM Authority for more GM manufacturing news and around-the-clock GM news coverage.

Source: The St. Louis Post-Dispatch

Read more: http://gmauthority.com/blog/2019/07/missouri-governor-signs-bill-giving-gm-50m-in-tax-breaks-for-possible-wentzville-investment/#ixzz5tkxNNmxN

Seniority Lists
Bargaining Committee

Chairman
Mike Herron
President
Tim Stannard
Zone at Large – 1st
Danny Taylor
Zone at Large – 2nd
Mark Wilkerson
Committeepersons
Joe McClure
Chad Poynor
Steve Roberts
Derek Lewis
Bill Cundiff
Dedrick Wells
Chris Potts
Jay Minella
Danny Bragg
Daniel Wray
Dominic Perez
Chris Brown

1853 Officers

President
Tim Stannard
Chairman
Mike Herron
Vice President
Darrell DeJean
Financial Secretary
Mark Wunderlin
Recording Secretary
Peggy Mullins
Trustee (3)
Jay Lowe
Dave Clements
Dave Spare
Sgt. at Arms
David C Spare
Guide
Ashley Holloway
E-Board at Large (2)
David Ryder
Steve Roberts

GM Unit Chair
Mike Herron
Leadec Unit Chair
Larry Poole
Ryder Unit Chair
Patrick Linck
AFV Unit Chair
Katherine McGaw
Retiree Chair
Mike Martinez