TONAWANDA, NY (WKBW) -- New York Governor David Paterson was in Western New York Tuesday for a major announcement at the GM Powertrain Plant in Tonawanda.
Officials announced details about at $400 million investment that involves building a new generation V-8 engine. The investment is expected to create or retain more than 700 jobs.
This past February, the Tonawanda Plant celebrated news that it was chosen for a $425 million investment by GM to make the next generation four-cylinder Eco-Tec engine.
Eyewitness News will have team coverage on this announcement, and what it means to Western New York.
Below is a release from Governor Paterson's office:
Governor Paterson Announces GM to Invest $400 Million in Tonawanda Powertrain; 713 Jobs Created or Retained
ALBANY, NY (04/27/2010)(readMedia)-- Governor David A. Paterson today announced that General Motors (GM) has chosen the Tonawanda Engine plant to invest $400 million and add 713 jobs to produce a new generation of fuel efficient small block truck and car engines.
"Today's announcement is vital to Western New York's automobile industry and to New York manufacturing as a whole, and demonstrates GM's confidence in our State," Governor Paterson said. "This is a major investment in the region's economy and ensures the long-term future of the Tonawanda engine plant. As always, we will maintain ongoing dialogue with GM regarding its numerous New York State operations."
"GM is investing in our plants, restoring and creating jobs and making progress toward our vision of designing, building and selling the world's best vehicles," said Mark Reuss, President of GM North America. "These latest investments show our commitment to improving fuel economy for buyers of every GM car, truck and crossover and giving them the best possible driving and ownership experience."
New York State will contribute $6 million to the project through an Empire State Development Upstate Blueprint Fund capital grant. The Erie County IDA will provide an additional $880,000 in sales tax abatement.
GM Tonawanda Engine plant is one of the largest engine plants in the world and has produced 70 million units since 1938. Earlier this year, Governor Paterson and GM announced that the company would invest $425 million to retrofit Tonawanda Powertrain to manufacture the new 2.0L and 2.5L Ecotec engines, retaining 470 jobs at the plant and countless jobs at local businesses and suppliers. Together, these announcements position the plant as a leader in GM's transformed product portfolio.
About General Motors
General Motors, one of the world's largest automakers, traces its roots back to 1908. With its global headquarters in Detroit, GM employs 217,000 people in every major region of the world and does business in some 140 countries. GM and its strategic partners produce cars and trucks in 34 countries, and sell and service these vehicles through the following brands: Buick, Cadillac, Chevrolet, FAW, GMC, GM Daewoo, Holden, Opel, Vauxhall and Wuling. GM's largest national market is the United States, followed by China, Brazil, Germany, the United Kingdom, Canada and Italy. GM's OnStar subsidiary is the industry leader in vehicle safety, security and information services. More information on the new General Motors can be found at www.gm.com.