General Motors Announces CORVETTE C7 to be Built in Bowling...

National Corvette Museum: General Motors Announces C7 to be Built in Bowling...:

The General Motors Corvette Assembly Plant was packed full of community and state leaders, GM officials, media and supporters of Corvette today in hopes of good news with regards to the future of Corvette and Bowling Green. It was good news indeed as GM North American President Mark Reuss took to the podium and announced their plans to invest $131 million in the Bowling Green Assembly Plant, "This facility is particularly thrilling for me to be at because I've had Corvettes, in fact, Corvette is one of the reasons why I went to work for the company a long time ago," said Reuss.



"It's a thrill for me to be here today in Bowling Green as the bearer of good news at one of our very best facilities building" our most iconic car," Reuss said. "When I say our most iconic car, I really mean America's most iconic car."



Reuss then cut to the chase and made the announcement everyone had been hoping for, "I'm here to announce that GM will invest $131 million in Kentucky to ensure that the next generation Chevrolet Corvette will be produced by this team, in this plant, in Bowling Green - the Home of Corvette.



Reuss's announcement was met by resounding applause, cheers and a standing ovation



"Thank you to you because you are the reason and the quality and the innovation and the craftmanship that happens here is a direct reflection of our re-investment, but more importantly as much money as that is, we really are adding about 250 jobs to the area..."



Reuss said the current generation will continue for about two more years while work happens behind the scenes work will begin to update the facility and ensure the Corvette will continue to be the true American sports car built here for many years to come. The C7 model is predicted to be debuted Spring of 2013 for a 2014 model year Corvette.



"As you know Bowling Green is a special place and not just to me and to GM but to Corvette lovers around the world. This place is THE mecca for those who appreciate true affordable sports car performance and they come from the four corners of the globe to see what you do here," said Reuss. "It is amazing and it is inspiring and it is very American. "



Reuss added that they come to see the birthplace of the American car that holds it own against Porsche, Ferarri, BMW and the rest of the legendary European sports car makers, both on the street and on the track. "They come to see how on earth Americans can build such a car... a car that meets and beats the best in the world, and the world has to offer, although typically the world has to offer theirs at a MUCH higher price point."



Reuss praised the craftsmanship of the Bowling Green Assembly Plant, that the plants in Italy wish they could match. He added that though GM boasts the Corvette getting 27 miles per gallon, that he had a Corvette in school and would get better than that - 29 miles per gallon from Detroit to Nashville. "Like the ad says, you are building rockets."



"Unlike any other facility in North America your doors are open to our customers who make pilgrimmages to Bowling Green to see their car being built, meet the people, and visit the National Corvette Museum." Reuss also praised the Museum pointing out that it is not funded by General Motors. "I'm one of the lovers of the Museum and the heritage of Corvette and this state means a lot to me personally."



Reuss closed his presentation saying "Tadge and the team are doing the next generation Corvette and it will thrill all of the sports car drivers of the future and it will be built right here." He added that this is just one of their ongoing investments of billions of dollars in their US facilities, keeping and creating jobs for their American workers.



Later in the presentation Kentucky Governor Steve Beshear named Reuss a Kentucky Colonel, presenting him with a framed certificate and mint julep cup.



Watch a complete video of Reuss's speech on the National Corvette Museum's You Tube channel at www.youtube.com/corvettemuseum. High res images are also available for download at:
https://picasaweb.google.com/corvettemuseum/GMC7Announcement

General Motors Corvette Plant in Bowling Green Kentucky to Undergo Major Renovation

General Motors Corvette Plant to Undergo Major Renovation

Corvette Assembly to Add 250 New Jobs, Invest More Than $131 million




BOWLING GREEN, KY - Governor Steve Beshear today joined community leaders and officials of General Motors in Bowling Green to announce the company will refurbish its Bowling Green facility, adding a new vehicle product program -- the next-generation Chevy Corvette -- creating 250 new jobs and a capital investment of more than $131 million.

"Kentucky has a longstanding, mutually beneficial relationship with GM and this significant investment further demonstrates the strength of our partnership," said Governor Beshear. "We are proud to be the exclusive home of the Corvette and look forward to continuing that tradition for years to come with the launch of the next-generation Chevy Corvette. We appreciate GM's continued confidence in Kentucky's workforce and business climate."

Governor Beshear met with senior GM executives last week in Detroit, Mich., to discuss the company's potential investment in Bowling Green. Warren County Judge Executive Michael Buchanon and Bowling Green Area Chamber of Commerce President & CEO Ron Bunch, CEcD also attended the meeting to emphasize the community's support for the project.

Refurbishment of the plant, which will include new manufacturing machinery, equipment and tooling will commence this spring. The new Corvette model is expected to hit dealer showrooms in mid-2013.

"Our announcement today is possible thanks to our great partnership with the Commonwealth of Kentucky, the Bowling Green community and the UAW," said Mark Reuss, GM North America president. "It represents our commitment to this plant, this area, and this nation."

General Motors began production of the Corvette in Bowling Green in 1981. The one million square-foot plant on 212 acres has remained the exclusive home of the iconic Corvette for 30 years and currently employs nearly 500 people. In 2010, the plant produced 15,791 Corvettes.

GM's presence has a tremendous impact on Kentucky's economy and is a major part of Kentucky's rich automotive history. It was for this reason that in 2010, legislation was passed naming the Corvette as Kentucky's official state sports car.

With this expansion, the South Central Kentucky region has announced the creation of 638 jobs and a capital investment of more than $158 million in 2011, already surpassing annual figures from previous years. Adding to the broad base of existing employment at the Corvette Assembly Plant, the 250 new jobs will create an additional 140 indirect jobs and $7.9 million in retail spending.

An economic impact study performed by the Cabinet for Economic Development shows the number of direct, indirect and induced jobs that will result from GM's existing and new employment in Bowling Green is nearly 1,950 jobs. Those jobs will provide an annual $222 million boost to Kentucky's Gross Domestic Product.

GM's local plant has a tremendous impact on the economy in Bowling Green and South Central Kentucky. Not only are automotive suppliers located here to serve the GM plant, but car dealerships, tourism and many other markets also benefit from being located in the same region as the Corvette. In turn, they support GM's continued investment in the community by promoting the plant and taking pride in its location here.

To encourage the investment by GM, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $7.5 million through the Kentucky Business Investment (KBI) program. The performance-based incentive allows GM to keep a portion of its investment over an eight-year period through corporate income tax credits and wage assessments by meeting job and investment targets.

KBI is a part of Incentives for New Kentucky (INK), which was enacted by Governor Beshear and the state legislature, including Representatives Johnny Bell, Jim DeCesare, Jody Richards and Wilson Stone of Warren County, in June 2009 to revise previous incentive programs and create new incentive opportunities for economic development. Support given by these local legislators, as well as Senator Mike Wilson, to INK has enhanced business attraction, retention and expansion efforts throughout South Central Kentucky.

"Bowling Green has been proud to be home to General Motors' Corvette plant since the 1980's, and we're grateful for all this company does for our economy," said Bowling Green City Mayor Joe Denning. "The Corvette is a symbol of this community, and we look forward to many more years of partnership with General Motors. We congratulate the company on the announcement today."

Through a Job Development Incentive Program, the City of Bowling Green has established incentives that encourage economic development. The program helps maximize state incentives for companies creating new jobs in Bowling Green, such as GM's announcement today.

"It's an incredible honor for our community to be linked to the Corvette, and we want to continue our strong partnership with General Motors in the future," added Warren County Judge Executive Michael Buchanon. "We're proud to show our appreciation for the economic impact that the local plant makes on our region. We also thank Governor Beshear, our federal and state legislators, and our Chamber of Commerce leaders for the resources they have provided to General Motors to assist in meeting the company's needs."

"The Chamber is a proud supporter of GM and is honored to be able to assist them in meeting any needs they might have. We congratulate the company on today's announcement, and we look forward to continuing our partnership with them," said Rodney Rogers, Chamber Board of Directors chairman.

Rogers continued, "We also thank the City, County and State for partnering with the Chamber on this and all other economic development projects. Their work is invaluable in supporting our community's business-friendly atmosphere."

For more information on the Bowling Green GM plant, visit www.bowlinggreenassemblyplant.com.

Information on Kentucky's economic development efforts and programs is available at www.ThinkKentucky.com.

A detailed community profile for Bowling Green (Warren County) can be viewed at http://thinkkentucky.com/EDIS/cmnty/index.aspx?cw=067.