It’s the time of year where people all over the world can expect to hear glad tidings from carolers, but surprisingly, signs of happiness and brighter futures have also been coming from the pages of the daily newspaper. We’re accustomed to hearing about job losses and economic uncertainty, but American manufacturing just received a huge present this year thanks to the rebounding of the U.S. auto industry.
After the global financial crisis of 2008, many automakers looked like they wouldn’t survive the year, even the largest of manufacturers like General Motors. In order to stay afloat, GM had to enter a government-backed state of bankruptcy in 2009. At the time, it looked like one of the biggest auto manufacturers was going to go under, and there was nothing anyone could do to stop it.
Jump forward a few years, and the United States government sold its remaining shares of GM stock, returning its holdings to the public market in a sign of confidence over the company’s future. Not only has GM rebounded, it is soaring ahead with a recent announcement that the company will invest in American factories, saving many jobs and creating hundreds more.
Five plants across the American Midwest will receive about $1.3 billion in investment from General Motors, according to this article published by Forbes. This Christmas gift is more than charity, however, as these plants will focus on creating fuel-efficient transmission and engines as well as work on other vehicle quality improvements. Three of the plants are in Michigan and one each is in Indiana and Ohio.
General Motors corporate plans also spell happy days for American Christmases in the future. After decades of globalization drawing away jobs from the United States, GM announced that its Australia operations would wind down at the same time that they’re increasing their presence back in America.
It may only be one company, but it’s a great sign that one of America’s former great corporations is making a rebound, and choosing to do it on American soil. This is just one of the reasons Marshall Fabrication Machinery has found to rejoice in the United States manufacturing industry this holiday season.