GM To Invest $1 Billion In U.S. Manufacturing, Create 7,000 Jobs For American Workers

By Ciara Linnane Markets MarketWatch Pulse

General Motors Corp. said Tuesday it will invest an additional $1 billion in U.S. manufacturing operations and create 7,000 jobs for American workers. The company said it will begin work on insourcing axle production for full-size pickup trucks, including work that was previously done in Mexico. That will create 450 jobs in Michigan. "The U.S. is our home market and we are committed to growth that is good for our employees, dealers, and suppliers and supports our continued effort to drive shareholder value," Chief Executive Mary Barra said in a statement. The car maker said it has created 25,000 jobs in the U.S. in the last four years, about 19,000 in engineering, IT and professional services, and 6,000 hourly manufacturing jobs. Shares were slightly higher in early trade, and are up 26% in the last 12 months, while the S&P 500 has gained 20%.

Continue Reading Below

Copyright © 2017 MarketWatch, Inc.