Governor Blanco Makes Announcement at General Motors in Shreveport

Governor Blanco Makes Announcement at General Motors in Shreveport

Governor Kathleen Babineaux Blanco

Thank you, Morgan. And thank you, Dave Gibbons, Troy Clarke and General Motors, for delivering this retirement gift of new investment! You could sweeten the pot by throwing in one of those new HT3's. I do need to learn to drive again, and those Hummer pickups are mighty fine.

I am, OF COURSE, kidding, but I have to admit that my family knows pickups, and yours are fine.

For nearly thirty years, General Motors has been a stronghold of economic stability for Northwest Louisiana.
Today's expansion continues to strengthen Louisiana's competitive edge in manufacturing innovation.

When I took office, I set out to strengthen the State's longstanding partnership with GM. Your success is our priority, because when you succeed, Shreveport succeeds. You've invested over $1.4 billion in Shreveport. Your annual payroll exceeds $160 million, and you contribute an estimated $4.5 million to our annual tax collections. And, to top it all off, you've been a model corporate citizen, giving generously to the community.

What does your presence mean? It means real, quality jobs for Shreveport workers.
I require companies benefiting from State incentives to provide good paying jobs with benefits. These are the jobs offered by GM.

This is why it's important to me, and important to this State, for you to expand here. The State has provided a wide range of assistance during my term, including:

* Infrastructure assistance;
* New and ongoing workforce training;
* Sales and use and independent tax exemptions;
* $8.7 million this year in Capital Outlay funding to support your growth;
* And, finally, the legislation we are signing today.

One of my early acts as Governor was to phase-out debilitating taxes on manufacturing machinery and equipment.

When GM told me that they could take on a new production line if I would expedite the tax phase-out for their facility, I said, "it's a done deal."

Today I'm signing into law Act 1 of the 2007 Legislative Session.
This bill fully repeals the sales and use tax on manufacturing machinery and equipment for GM. It designates an additional $1.28 million in sales tax exclusions. I am proud to say that, when combined with other state incentives, this bill provides the support needed for GM to produce HUMMER's first true pickup trucks.

Today's $73 million dollar investment by GM secures Shreveport as home to the Hummer HT3.
It allows us to retain more than 360 of the good paying jobs with benefits that Morgan Johnson and the UAW told you about. And it paves the way for future expansions.

In closing, I want to thank GM for being a part of the progress underway in Northwest Louisiana.
I want to thank UAW for working with us to produce the skilled workforce we need to succeed. By growing the job base in Louisiana, we are creating the new opportunities that will lead us to a bright and productive future. Thank you, and in a few minutes, we'll sign that bill!

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