The project cost, including new machinery and plant renovations, is estimated at $350 million. Approximately $220 million would be eligible under state law for an industrial facilities tax exemption that would save the company 50% on new property taxes.
GM would save $17.5 million in personal property taxes under the abatement approved in Warren, while an identical amount would be produced for the coffers of local tax entities during a 12-year period.
General Motors has said the availability of tax incentives is a key component as company executives consider which of its plants might be selected for the project. GM representatives have refused to identify which sites are in the running.
"This really strengthens the business case for the Warren plant," says Darla Park, GM communications manager.
The UAW members attended the meeting to show support for the automaker's abatement request.
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