Chrysler and GM announce $800 million investment at Toledo plants
21 November 2011
Chrysler and General Motors have in recent weeks announced investments of over $800 million on retooling and expansion of their factories in the city of Toledo, the town in US' Ohio state.
Toledo has rolled out Jeeps since World War II, and seen its fortune follow that of Detroit's auto industry. It is now a driving force in the car industry, and is expected to fare even better with the new invesstment initiatives by the two auto makers.
These moves would create 1,400 jobs besides keeping thousands more at the facilities of the major automakers and smaller parts suppliers to the auto majors.
The auto revival is bringing cheer to Ohio's fourth-largest city, where high-paying factory jobs have fallen sharply in refent times.
Only a short hour drive from Detroit, the city has for decades supplied the auto industry with spark plugs, transmissions and glass. But it saw a third of its manufacturing jobs go over the last decade with unemployment ranging over 10 per cent, just above the state average.
Not surprisingly therefore, Toledo mayor Mike Bell called Chrysler Group LLC's decision on addition of 1,100 jobs and making its assembly plant a key part of its future - "the equivalent of a blood transfusion for our city."