BEDFORD – According to GM Authority, General Motors is set to make an investment announcement regarding the GM Bedford plant in Bedford.
According to sources, GM will make the investment announcement this Friday, November 18th. Unfortunately, specific details on what the announcement will entail have yet to be revealed.
The announcement may be related to the approval of a ten-year tax abatement by the Bedford Redevelopment Commission.
The Bedford Redevelopment Commission approved a 100-percent tax abatement for the GM Bedford plant for a ten-year period, a measure that the Bedford City Council granted. The approval is intended to attract additional investments from the automaker at the GM Bedford plant. Reports indicate that roughly 15 percent of the savings will be directed to the Bedford Redevelopment Commission for redevelopment efforts in the area.
Back in December of 2021, GM announced that it was poised to invest $51 million in the GM Bedford plant to support the production of new drive unit castings for use in the Chevy Silverado EV, as well as other casting applications. Meanwhile, the recent tax abatements announced over the summer are related to $47 million set to be invested to convert a section of the GM Bedford plant for additional EV components.
First opening in 1942, the GM Bedford plant is located at 105 GM Drive, and currently spans some 1 million square-feet spread across 155 acres of land. Also known as Bedford Casting Operations, the plant incorporates semi-permanent mold and die casting to produce cylinder heads, cylinder blocks, transmission cases, structural components, and drive unit housings across all four of GM’s U.S. brands, including Buick, Cadillac, Chevy, and GMC. The facility currently employs 821 workers, with GM making $377.1 million in direct investments since 2011. Workers are represented by UAW Local 440 and IBEW Local 16.
Information: GM Authority
