The Center for Automotive Research has found that nearly half of the shuttered assembly and parts plants in the country have been repurposed for new industries.
"About half of all U.S. automotive plants that have closed since 1979 are being reused, and much of that activity has come during the recent hard times for the industry and real estate market, according to a report released Thursday.
The Ann Arbor, Mich.-based nonprofit Center for Automotive Research’s report found that of the 267 assembly and parts plants closed during that period, 128 have found or are finding new life. Forty percent of the sites surveyed were bought for a new use between 2008 and 2010, during which the companies now known as General Motors Co. and Chrysler Group LLC went through restructuring and bankruptcy reorganization."
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In similar news, Crain's
reports that studies are being prepared to analyze the process and impact of repurposing plants in Michigan. Read the story here