Millions of dollars invested in Saginaw, expected to create hundreds of jobs

Governor Rick Snyder speaks at GM's Saginaw Metal Castings Operation

Two automotive companies are investing hundreds of millions of dollars in Saginaw County.

General Motors is investing $215 million into its Saginaw Metal Castings Operation.

Nexteer Automotive is investing $150 million into its world headquarters in Buena Vista Township.

Nexteer says the money will save 1,000 Saginaw County jobs.

General Motors says its investment will create or maintain 275 jobs.

Governor Rick Snyder attended both announcements Friday.

"The best key to success is success stories yourself," said the governor, who says talent, partnerships, and a good work ethic contributed to the investments.

JoAnn Crary, president of Saginaw Future joined Governor Rick Snyder as he traveled to Asia to drum up more business for Michigan. "The Cchinese actually want to invest more in Michigan. They're looking for more businesses to invest in, and they also want to bring some of there companies here."

Nexteer electrician Richard Darling says, "It's a secure future for all of us. It's a future until 2018 and hopefully beyond."

Nexteer says it's not just blowing smoke when it says it's leading the way with steering systems. It says by 2013, 9 out of 10 full-size pickup trucks will have a Nexteer steering system inside.

Steve Ellicott, who works for Saginaw Metal Castings, says "It certainly perpetuates our well-being and future here. It's certainly a great investment for Michigan and the country. It's the foundation on which this country was built on."

Great Lakes Bay Region promoters say they would like to attract more automotive suppliers and solar companies, which they say they're getting close to making another announcement about.

In the meantime, we want to hear your reaction to this. What do you think these investments will do for Saginaw's economy? Vote on our poll and leave us your comments below.