BEDFORD – In a meeting that took place earlier this week, the Bedford City Council re-addressed and approved a tabled matter; the compliance of statements of benefits for General Motors LLC.
- Personal Property –Furnish And Install Machinery, Equipment And Special Tooling To Produce Aluminum Block Castings
- Personal Property – Furnish And Install Machinery, Equipment And Special Tooling To Support Die Casting Operations For Various Products
- Personal Property – Furnish And Install Machinery, Equipment And Special Tooling To Produce Aluminum Block Castings
- Personal Property – Equipment And Tooling To Produce Mold Head Castings
- Personal Property – Equipment And Tooling To Produce Mold Head Castings
- Personal Property – Furnish, Install Or Upgrade Machinery, Equipment, And Special Tooling Including Dies To Support Electric Vehicle Component Manufacturing
General Motors is making the transition to an electric future, and plans to produce exclusively electric vehicles by 2035, beginning the process in 2025.
15 percent of the savings from the tax abatement will be given to the Bedford Redevelopment Commission per state statute for redevelopment purposes.
The General Motors Corporation has previously had six tax abatements with the City of Bedford including:
- Personal Property 2010 – Equipment and tooling to produce Mold Head Casting
- Personal Property 2011 – Equipment and tooling to produce Mold Head Casting
- Personal Property 2014 – Personal property Furnish and install Machinery, equipment, and special tooling to produce aluminum Block castings – this is for small gas engines and this segment of the business is doing well
- Personal Property 2015 – Furnish and install machinery and equipment and special tooling to support Die Casting Operations for various products. This includes 6, 8, 10, speed transmissions
- Personal Property 2016 – Furnish and install machinery, equipment and special tooling to produce aluminum block castings – This CSS business haves struggled according to Glenn Sampson.
General Motors has already invested over $108 Million in the Bedford Plant since 2010. The property tax generated by General Motors is at approximately $1.7 million in 2022, which the company contributes to all levels of government.
