General Motors Co. will spend $439 million to build a new paint shop at its Corvette sports car plant in Bowling Green, Kentucky.
The investment, which is part of a plan to spend $5.4 billion on U.S. factories, includes a 450,000-square-foot paint facility, almost half the size of the current assembly plant, GM said today in a statement. The plant employs 753 hourly workers, according to GM’s website.
GM is making the announcement as the company prepares to negotiate a new labor deal with the United Auto Workers union this year. The Detroit-based automaker has made or announced $16.8 billion in investments at its U.S. facilities since exiting a government-backed bankruptcy in June 2009.
“Hardworking UAW members have proudly built vehicles in Bowling Green for more than 30 years, and we are pleased to be a part of such a significant facility upgrade,” UAW Vice President Cindy Estrada said in the statement.
GM rose 0.91 percent to $35.34 at 10:26 a.m. in New York.
The largest U.S. automaker also has been investing outside its home country. GM said in March that it will invest $5 billion in Mexico and its joint venture in China said last month that it plans to spend $16 billion by 2020 to expand in that market.