Thursday, August 10, 2000

GM plant may grow in Ky.




By
The Associated Press

        BOWLING GREEN, Ky. — General Motors is considering a $39 million expansion of its Corvette plant in western Kentucky.

        The expansion would create 127 jobs at an average hourly wage of $26.15.

        The project received preliminary approval Tuesday for up to $2.5 million in tax credits through the Kentucky Industrial Development Act. The incentives were passed at a special meeting of the board of the Kentucky Economic Development Finance Authority.

        General Motors will consider the project if it also qualifies for low-interest loans financed by lo cal industrial revenue bonds, plant comptroller Kathleen Grace said.

        Similar financing was used to lure the plant from St. Louis in 1981, she said.

        The project would consist of $1.2 million for building costs, $27.8 million in fixtures and $10 million in equipment, according to state filings.

        The expansion would add about 10,000 square feet of manufacturing space but would not involve new construction, Ms. Grace said. She declined to provide more details.

        It would be an incremental expansion of the 1 million square-foot Corvette plant, which employs about 1,200.

       



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- GM plant may grow in Ky.