GM Headquarters as seen from Windsor, Jun 14, 2006
Advertisement
GM plant shutdowns hurt Mich. budget
GM extending shutdowns at four plants
Updated: Friday, 24 Apr 2009, 9:15 PM EDT
Published : Friday, 24 Apr 2009, 9:15 PM EDT
LANSING, Mich. (WOOD) - Michigan's already shaky economy likely will take another hit this summer when General Motors shuts down plants in the state for more than the usual two weeks.
The extended shutdowns of four plants could give GM workers more time off to enjoy vacation activities. That could give tourism a boost, but it's sure to hurt auto suppliers and other businesses that depend on the troubled automaker.
It's also bad news for the state budget. State officials last week said the state faces a $785 million deficit this budget year. Lost income and sales tax revenue from idled workers could blow the hole even bigger.
Michigan's unemployment rate was 12.6 percent in March.
Opinions that are derogatory, attack other users, offer unsubstantiated facts or are offensive in nature can and will be removed as defined by the Terms of Service. WOOD is not responsible for the content posted in this comment section. We reserve the right to remove any offensive or off-topic remark or thread. To mark a comment for review by a moderator, click "Report."
Email This
PrintThis
View Story on a Single PageAdvertisement
Advertisement