Chrysler to Invest $365 Million in Toledo, Add 1100 Jobs
According to the Toledo Blade newspaper Chrysler wants to invest big -- $365 million -- in to the plant that builds the Jeep Liberty and Dodge Nitro SUVs. The money would be used to update and expand on of the two plants at the automaker's Toledo Assembly Complex. Later investments may be made into the Toledo North Plant, which builds the Jeep Wrangler and Wrangler Unlimited, according to the report.
The newspaper said details of the plans are disclosed in documents filed in a city tax application, but Chrysler officials told the Toledo Blade it could not confirm the application's details until a state incentive package is finalized. The automaker only offered the newspaper a statement saying:
"In January, 2011, Chrysler Group CEO Sergio Marchionne confirmed that the company was considering a possible investment in its Toledo Assembly Complex. As part of the process, Chrysler Group is working with state and local governments to secure incentives that would support the business case for such an investment. However, any decision to invest in the Toledo facility would be contingent upon final approval of state and local incentives and final acceptance of all agreements by the company."
The expansion could be the first step toward adding production of more models to the complex - as many as seven models in five or six shifts between the two plants, according to the report. Many of the vehicles built at the Toledo Assembly Complex could be sent overseas either as rebadged Fiats, or with the Italian automaker's help, to increase Jeep sales worldwide.
The updates to the complex, according to the tax application, are expected to be finished by 2013. The Toledo Blade reports that Chrysler will initially add 1050 production and 55 management jobs.
Source: Toledo Blade