Government Providing $3.5 Billion To Help Automaker Gain Solid Footing
Ontario is partnering with the Canadian and American governments to restructure General Motors, saving thousands of jobs and keeping the automaker in Canada.
Ontario is contributing support to GM worth $3.5 billion. Combined with the federal government's $7.1 billion contribution, Canada's total commitment to GM's restructuring is $10.6 billion. This funding will help GM through this global economic crisis and allow it to restructure into a stronger, greener and more cost-competitive automaker.
The government support means jobs for the thousands of Ontario workers directly employed by GM Canada and stability for the auto industry and the communities that depend on it.
