Chrysler to Invest $850M in Sterling Heights
Specifically, Sterling will receive the bulk of the some $1 billion to be spent by Chrysler. The facility where the Chrysler 200 is rumored to be built, will receive $850 million, while the GEMA facility will benefit from a $150 million boost.
The investments were made possible by MEGA approving a 10-year $4.6 million tax credit for the project the carmaker has for the GEMA facility. There, Chrysler plans to hire 155 people to handle the manufacturing of Fiat's 1.4l engines for the 500.
The until recently troubled Sterling Heights Assembly Plant was revived by the company's CEO, Sergio Marchionne, back in July. Although not completely removed from the casualty list of last year's bankruptcy, the facility will, for the moment, remain open until 2012. It's not yet clear what Chrysler and Fiat are planning to do with the facility after that.
“Chrysler Group LLC would like to thank the Governor for her support of the Company’s commitment to the State of Michigan through a potential investment of $850 million in the Sterling Heights (Mich.) Assembly Plant and surrounding stamping plants, and $150 million in the GEMA (Dundee, Mich.) Plant,” the manufacturer says in a statement.
“We value our partnerships with the State and local governments and look forward to working with them to finalize these commitments.”