BMW to invest $1 billion in the U.S. by 2012

BMW announced plans to invest more than $1 billion in its U.S. operations. Including a $750 million investment at its Spartanburg, South Carolina factory, BMW today opened doors to the $100 million expansion to its headquarters in Woodcliff Lake, New Jersey.

“These new facilities represent BMW”s long-term commitment to America, to New Jersey and the region from where we draw our talented work force,” said Tom Purves, CEO of BMW of USA. “They are part of BMW’s growing footprint in the U.S., a demonstration of our increasing commitment to and presence in this great country.”

The German automaker is also planning on spending another $170 million by the end of 2008 towards a new regional parts and distribution center in Pennsylvania and Illinois.

Overall, BMW will invest $1billion in the U.S. by 2012 to retain its position in the world”s largest vehicle market, the company said.