Wednesday, March 12, 2008

General Motors Planning to Sell a Plant to Oklahoma County

General Motors is selling an old plant to Oklahoma County. The 3.8 million-square-foot plant would be used by the Tinker Air Force Base. General Motors stopped its production in the plant due to decreasing sales and rising production cost. The money of the $55 million deal would be generated from bond measure. Ray Vaughn, the commissioner of Oklahoma Country said that Tinker is very important for the state as 27,000 Oklahomans from 48 different counties travel and work on base.

Chron reported:

"Tinker is so important to our entire state, with more than 27,000 Oklahomans from 48 different counties commuting and working on base," County Commissioner Ray Vaughn, who has been working on the project for more than a year, said Tuesday. "The General Motors facility served as the worksite for thousands of Oklahomans over the years and everyone involved is anxious to see Oklahomans back in this facility, helping to grow our economy."

The county would lease the property and facilities to Tinker in a "low-cost, long-term lease agreement," Vaughn said.

General Motors is one of the global auto makers widely known across the world. However, they are currently going though a slump condition in the industry with decreased sales. The plant was not active for about two years in the county. So, it seems to a realistic decision of General Motors to sell the plant.