The average American household with debt carries an astonishing $129,579 in total debt. In order to help this growing problem, Governor Andrew Cuomo has formed a partnership with General Motors that is set to bring hundred of jobs back to Western New York.
Auto maker giant GM is set to invest $334 million dollars in new machinery and equipment in their Rochester, Lockport, and Tonawanda plants. The Tonawanda Engine Plant will receive the largest investment, totaling $296 million for new engine production. The Lockport factory will gain $32 million to help produce new cooling systems, while $6 million will go to operations in Rochester to produce miscellaneous components.
Besides the budgets given, GM officials did not discuss any of the products that will be made at these plants, due to an increasingly competitive auto market.
The overall project will create 67 new jobs at the Tonawanda plant, while retaining 854 jobs. Lockport will retain 320 jobs and Rochester will retain 20.
All in all, GM maintains 4,200 employees statewide, and Empire State Development will donate up to $7 million in investments for this specific project if the auto giant is able guarantee long-term job availability.
Governor Cuomo expressed his excitement about this new plan, as he believes it will only continue the trend of bringing people back to their home cities. In his celebratory speech, he praised the local workforce and spoke about how his never-ending goal is to reverse decades of economic downturn in Buffalo and Rochester.
“Home values are going up. Young people are actually coming back to Western New York. When was the last time that happened?” explained Cuomo to WXII News. “And you see international companies now coming to Buffalo and investing in Western New York… By reinforcing our important partnership with GM, we are not only helping to grow its operations, but building on its legacy in New York.”
The three projects are expected to be finished by December 2018.