Bedford Approves GM Tax BreakPosted: Updated:
Tax abatement on the fourth major General Motors Co. (NYSE: GM) expansion in three years breezed through the Bedford City Council Tuesday. Councilors unanimously approved incentives for the plan, which will add more than three dozen jobs. The auto manufacturer is looking to pump $27 million into the facility. The move follows a $29 million plan announced in December to beef up the Lawrence County operation.
The factory currently employs around 600 workers. The plant produces 6- and 10-speed transmission components.
In 2011, GM announced expansions in consecutive months totaling $80 million.
Source: Inside INdiana Business