U.S. Vice President Joe Biden will be making a trip to Toledo on Monday to Chrysler’s Toledo Supplier Park. While the White House declined to discuss Biden’s plans for the visit, it is reported that the VP will be talking about the importance of the supplier industry, which employs nearly twice as many workers as the automakers.
Auto industry suppliers were hit very hard during the economic downturn with more than 100,000 jobs lost over the last three years. More than 50 suppliers also filed for bankruptcy in 2009.
Nonetheless, things are starting to look better. In the past 12 months the auto industry has added 42,000 jobs and fewer suppliers have filed for bankruptcy.
The Obama administration has been making trips to Michigan in the past couple of weeks to tout the importance of the auto industry and its decision to put $60 billion into the auto bail out. President Barack Obama himself made trips to Chrysler and GM plants last month and also stopped by FoMoCo’s Chicago plant where the new 2011 Ford Explorer is being built.
– By: Omar Rana
Source: Detroit News
Photo Credit: Official White House Photo by Pete Souza