General Motors Company (NYSE:GM) has set aside $1 billion to renovate the old Warren Tech Center, which was the company’s design and engineering hub.
The Warren Center was once famed as one of the most glorious and admirable landmarks for automobile technology. It contributed largely to some of the modern automotive technology in existence today. Somewhere along the way the Tech Center was hit by hard economic times and it ended up crumbling. Jobs were lost, and doors closed.
General Motors have plans to revive the now run-down and tattered facility. The initiative will involve a $1 billion renovation to restore the facility into operational status. The initiative will open up 2600 new jobs and is expected to push the state of Michigan back into shape after a bit of derailment influenced by economic shortfalls.
Reconstruction measures to the 56-year-old facility are expected to begin this month, and the project is expected to finalize by 2018. The restoration will focus on many aspects including the IT facilities, development sections, and the design studios.
The old facility is famed as the place where incredible designers once worked on some of the most prestigious American heartthrob cars like Pontiacs, Cadillacs, and Corvettes among others were first conceptualized.
After many years, the facility has been hit by floods and depreciation. The place will benefit from new paintwork, and switch outs in most of the woodwork. It will also benefit from an urban touch to make it feel livelier. The initiative to renovate the old facility has been received with open arms, especially by the region and all the people who are familiar with how well the facility flourished back in the day.
The company has included this venture among a few other investments that General Motors Company (NYSE:GM) hopes will be instrumental in its future success. The automobile company has also claimed that it will invest $5 billion in other facilities within the United States by 2018. They investment announcements come as the company anticipates future improvements in the currently slowed economies such as China and Brazil.
