MICHIGAN ECONOMIC DEVELOPMENT CORPORATION CORENET GLOBAL ECONOMIC DEVELOPMENT AWARD GENERAL MOTORS...
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Transcript of MICHIGAN ECONOMIC DEVELOPMENT CORPORATION CORENET GLOBAL ECONOMIC DEVELOPMENT AWARD GENERAL MOTORS...
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MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
CORENET GLOBAL ECONOMIC DEVELOPMENT AWARD
GENERAL MOTORS IN FLINTpresented by
KATHY BLAKE and AMY BANNINGA
MARCH 15, 2005
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MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
FLINT HISTORY
City once synonymous with General Motors GM founded in Flint in 1908 by Billy Durant
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MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
FLINT HISTORY
Long relationship great for city, in spite of difficulties. 1936-37 strike
– Historians: most important strike in American labor history
– Governor Frank Murphy and President Roosevelt involved, National Guard dispatched
– Result: GM agreement w/UAW covering 17 plants
1998 strike– Shut down most of GM’s North American manufacturing operations
– Cost company $2 billion and market share it has yet to recapture
– Left deep scars in community
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MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
Why MEDC and MEGA were created 1990’s, Michigan losing major corporate
investments and jobs to other states MEDC: a public-private partnership that gets
things done MEGA targets head-to-head competition
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MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
Governor and the Legislature make MEDC and MEGA more effective Flexibility addresses new challenges and
opportunities• High-Tech MEGA• Retention MEGA
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MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
GM CAN BUILD ANYWHERE—WHY FLINT?
Challenges in competing for new auto plants GM increasing technology and productivity Rising health care and legacy costs prompt
cost-cutting moves GM could save up to $100 million annually
elsewhere
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MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
ATTRACTION EFFORTS
Local support Meetings with company, state and local
officials State, local property tax abatements worth
$42.8 million City helped UAW, MEDC make case to GM
leaders
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MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
ATTRACTION EFFORTS
State incentive package: MEGA tax credit worth more than $28.2
million
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MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
A DECISIVE WIN
GM Flint Products Michigan automakers major players in heavy-
duty pickup production $150 million refurbishment of Flint Truck
Assembly for production of next-generation Silverado, Sierra heavy-duty pickups
Adding new machinery, tooling and equipment for future production
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MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
A DECISIVE WIN
GM Flint Products $300 million expansion of Flint Engine South
plant, adding 500,000 square feet for production of GM’s new advanced global V-6 engine • Plant is sole source of GM’s Vortec 4200 six-
cylinder engine for SUVs
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MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
A DECISIVE WIN
Governor Granholm’s Nov. 30, 2004 announcement
“…General Motors’ projects will affirm the importance of my overall automotive strategy as we continue to target new investment in Michigan.”
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MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
RESULTS
350 new positions, another 2,862 retained Company investing nearly half a billion
dollars in Flint Estimated positive state revenue impact over
life of agreement: $517 million
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MICHIGAN ECONOMIC DEVELOPMENT CORPORATION
michigan.org