General Motors’ large SUV plant in Arlington, Texas, is about to get a major overhaul to the tune of $331 million in order to prepare for the next-generation of the Chevrolet Suburban and Tahoe, GMC Yukon and Cadillac Escalade.
The plant will be getting the necessary changes in order to produce the new models which are expected to arrive sometime in 2013 to 2014, as well as adding additional production capability.
As a result of the changes to the facility GM will also be adding 110 new hires as part of its overall plan to add approximately 4,000 new jobs in the U.S. over the next few years.
GM is still announcing further details of the deal right now, but it is expected that GM secured a $1.6 million tax break with Tarrant County this week. The abatement represents a 70 percent cut in tax revenue in exchange for expansion of the plant. While GM will surely welcome to savings, it was far from the $3.4 million in savings the automaker originally sought.
Stay tuned for more details from Arlington in the next hour.
References
1.’Tarrant County approves…’ view
2.’GM to add 110…’ view
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