DETROIT -- In preparation for a freshening of its full-sized truck lineup, General Motors is planning a sizable investment at a core truck plant.
Spokesman Dan Flores confirmed that GM has secured a tax abatement for a $175 million investment that would create 200 manufacturing jobs at its Fort Wayne, Ind., plant. It is one of the largest investments in the plant's 18-year history.
GM does not have a timeline for the investment, but Flores said it would include tooling and new equipment in the assembly and body shop areas.
The investment would help the plant prepare for production of the automaker's GMT900 platform. GMT900 will underpin the 2008 Chevrolet Silverado and GMC Sierra, a source says. Both vehicles will be launched in mid-2007.
"We are not in a position to make final announcements," Flores said, "but the tax abatement is a big piece of the puzzle."
The approved tax abatement means that GM will pay $1.5 million in additional property taxes over 10 years. Without the abatement, GM would have paid about $5 million in taxes.
The roughly 2.5-million-square-foot plant employs more than 2,900 people.
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