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GM to Invest $850 Million in Oshawa

Prime Minister Stephen Harper says GM Canada is investing almost $1 billion in Canadian research and development at its complex in Oshawa, Ont., to meet the conditions of the 2009 bailout. Harpers say the money represents "exciting future implications'' with ripple effects that will be felt "far and wide.'' The federal and Ontario governments invested a total of $10.5 billion in GM Canada in 2009 as the automaker struggled to survive the economic downturn. Today's announcement is worth $850 million and is aimed at meeting R&D spending commitments GM made under the bailout. The Oshawa plant builds many GM models, from the Impala and Camaro to the Buick Regal. They also share production of the Chevy Equinox with Ingersoll's CAMI plant.

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