General Motors (NYSE: GM) has announced plans to invest an additional $1 billion in its U.S. manufacturing operations. The automaker, which has major operations in Fort Wayne, Marion and Bedford, says it will announce details of individual projects throughout the year.
The company says the investment will involve new vehicle, advanced technology and component projects. GM expects the projects to create or retain 1,500 jobs.
The automaker has shown faith in its Indiana operations recently. In August, General Motors unveiled plans to invest $91 million into its Marion Metal Center to buy new equipment and make upgrades. At the time, Communications Manager Stephanie Jentgen said the plan shows the automaker "thinks we’re a viable concern." That investment is expected to retain around 120 jobs.
Late last year, GM said it would invest more than $127 million in its Bedford Casting Operations plant and add around 127 jobs. Months earlier, the company unveiled plans to pump more than $1 billion to double the size of its Fort Wayne Assembly plant, which employs more than 4,000 workers.