MARION, Ind. (AP) -- Mayor Wayne Seybold is optimistic about the future of the city's General Motors plant, despite the company's announcement it will cut 21,000 U.S. jobs and phase out the Pontiac brand that the factory stamps metal panels for.
The Marion plant received a $130 million upgrade from GM in 2005. The 53-year-old plant employs 1,200 workers in the city midway between Indianapolis and Fort Wayne.
Seybold says Monday he has presented the plant with a performance-based incentive plan that he hopes will protect it from new cutbacks.
If the plant were to close, Seybold said it would cost the city millions of dollars in lost tax revenues besides throwing hundreds of workers onto unemployment rolls.