GM – Investment in Oshawa facility would bring in 400 new workers

GM Canada is investing $850 million in research and development at its complex east of Toronto, an announcement hailed by the prime minister as proof of the automaker’s commitment to Canada, as it makes good on its bailout commitments, but regarded cautiously by auto workers.

The investment Tuesday came on the same day a rival automaker, Toyota, pledged $100 million to boost production and hire 400 new workers at a facility in southwestern Ontario — making for nearly $1 billion in auto sector investments in the province in a single day.

Prime Minister Stephen Harper, who attended the GM announcement in Oshawa, Ont., said the money represents “exciting future implications” with ripple effects that will be felt throughout the economy.

The federal and Ontario governments invested a total of $10.5 billion in GM Canada in 2009 as the automaker struggled to survive the economic downturn.

“We did what was necessary to support and stabilize Canada’s economy,” Harper said Tuesday.

“This is a good story. Hardworking people, the company and government worked together to solve an enormous problem and now here we are today, looking forward with hope.”…

via GM makes $850M investment in Oshawa facility | Kitchener.