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Ohio and General Motors Reach Agreement on $12 Million Community Investment

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Ohio and General Motors Reach Agreement on $12 Million Community Investment For Immediate Release: Contact: Todd Walker January 14, 2021 [email protected] Ohio and General Motors Reach Agreement on $12 Million Community Investment The Ohio Development Services Agency and General Motors have reached an agreement on the company’s $12 million community investment in the Mahoning Valley. The community investments are required as part of the settlement for GM’s repayment of its Job Creation and Retention Tax Credit incentives. In addition, GM will repay $28 million in tax credits. The state of Ohio required that GM refund the tax credits and make these investments following the company’s decision to close its Lordstown assembly facility. “This agreement provides investment in workforce, education, and infrastructure that will build on the Mahoning Valley’s strong manufacturing heritage,” said Governor Mike DeWine. “This investment will position the region for economic growth in the automotive industry and beyond.” GM has committed $5 million to Youngstown State University for workforce development in partnership with Eastern Gateway Community College, and funding for the YSU Energy Storage Innovation and Training Center. The Village of Lordstown will receive $3 million for the design and construction of a new water tower. Eastgate Regional Council of Governments will receive $2.5 million for local infrastructure improvements, and the Mahoning Valley Manufacturers Coalition will receive $1.5 million to support community workforce development. “The partnerships with Youngstown State and the Mahoning Valley Manufacturers Coalition will help develop the workforce for the electric vehicle and battery markets,” said Lt. Governor Jon Husted. “The future of energy technology is being developed right here in Ohio, and our ongoing relationship with General Motors will accelerate this innovation while providing jobs in the Mahoning Valley.” “These projects were identified locally, will leverage additional outside funding, and have a measurable impact on the community,” said Lydia Mihalik, Director of the Ohio Development Services Agency. “The investments will help attract new companies to the region and create an environment for business growth and success in the Mahoning Valley.” Youngstown State University and Eastern Gateway Community College will focus on talent recruitment, training, and retention. The partnership will help provide a skilled workforce to meet the needs of companies in the Mahoning Valley including Ultium Cells, Lordstown Motors, and TJX, among others. The funding will also support the creation of the YSU Energy Storage Innovation and Training Center. "We are certainly appreciative of the investment by General Motors and the confidence placed in our Valley by Governor DeWine, Lt. Governor Husted and Lydia Mihalik of the Ohio Development Services Agency,” said Jim Tressel, President of Youngstown State University. “YSU and our many partners are committed to playing a major role in training, research, innovation, infrastructure, and workforce development services in order to help transform the economic engine of our region." Office of Communications & Marketing • 77 South High Street • Columbus, Ohio 43215 • U.S.A. • 614 | 466-2609 The State of Ohio is an Equal Opportunity Employer and Provider of ADA. The Village of Lordstown water systems infrastructure enhancements will include a water tower to serve the Ultium Cells facility and provide additional capacity to serve the Village of Lordstown to support ongoing economic development investments. “The Village of Lordstown appreciates the consideration of $3 million for the improvements to our water system. This greatly assists us in preparation for current and future needs,” said Mayor Arno Hill. In addition, Eastgate Regional Council of Governments will invest in local infrastructure improvements including the development of a proposed Lordstown Smart Transit Corridor. Working with the Ohio Turnpike Infrastructure Commission and DriveOhio, the corridor will enhance business sites surrounding Lordstown. The funding will also support battery, advanced energy, and electric vehicle charging technology, advancing the Voltage Valley strategic initiative, and expanding broadband in the region. “We are grateful for the investment in our region by General Motors and appreciative of the support by Governor DeWine and his administration,” said Jim Kinnick, Executive Director of the Eastgate Regional Council of Governments. “Serving as the region’s Metropolitan Planning Organization, Eastgate is well positioned to leverage this GM investment for the benefit of the entire region. We will be working closely with regional economic development entities, as well as with our state and federal partners, to aggressively pursue regional economic diversification. Our near-term focus will be on enhanced infrastructure to support job growth and workforce development in the Lordstown region.” The investment in the Mahoning Valley Manufacturers Coalition (MVMC) will support community workforce development and promote and raise awareness of manufacturing – including additive manufacturing and energy technology in the Mahoning Valley. MVMC will partner with America Makes and BRITE Energy Innovators. ”MVMC is grateful for this opportunity. We look forward to working with our partners to create professional development opportunities for career counselors, teachers, and advisors throughout the Mahoning Valley to help young people and career switchers make informed decisions about their career pathway,” said Jessica Borza, MVMC Executive Director. General Motors will be required to complete the $12 million investment in the Mahoning Valley by the end of 2022, along with refunding $28 million in tax credits. In 2008, the company entered into Job Creation and Retention Tax Credit agreements which resulted in the issuance of $60.3 million in tax credits. General Motors has other state incentives for its operations in Toledo and Defiance. The company is currently compliant with those agreements. ### Office of Communications & Marketing • 77 South High Street • Columbus, Ohio 43215 • U.S.A. • 614 | 466-2609 The State of Ohio is an Equal Opportunity Employer and Provider of ADA. .
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