REGIONAL ECONOMIC IMPACTS

Resulting from activities by RACER and its buyers/end users

MAKING OUR WORLD A BIT BETTER

Investments by RACER Trust and its Buyers are improving Communities by Cleaning Up the Environment and Creating Jobs That Last

Since its founding in March 2011, RACER Trust has worked diligently and relentlessly to carry out the mission established for it by the settling parties of the General Motors Corp. bankruptcy — to remediate environmental impacts, where necessary, and to sell the properties for redevelopment, with an emphasis on job creation and new, net tax revenues for communities that lost a great deal of both when GM shuttered auto plants and other facilities.

Investments by RACER Trust’s buyers and end users through April 2024 have generated annual, recurring impacts of 69,042 jobs, $5.7 billion in labor income and $24 billion in regional economic output, creating new opportunities and revenue for communities hurt by the GM bankruptcy.

To measure the success of these efforts, RACER commissioned an independent analysis by Industrial Economics, Inc. (IEc), which examined the overall economic impacts of expenditures by RACER (on environmental remediation and positioning of properties for sale) and its buyers. The analysis found that 61,667 permanent jobs were created or supported since 2011, annually producing more than $5 billion in labor income and $18.6 billion in total output, using 2022 values as a comparative benchmark.

In addition, through July 1, 2024, RACER had obtained a No Further Action status for 61 components of environmental cleanup at its properties, meaning active remediation was complete and risks to human health and the environmental removed.

Success on this scale is no accident. It started with the vision of the settling parties to the GM bankruptcy, who were clear in their expectation that these abandoned properties serve as wellsprings for renewal, not simply left to fester and decay. It requires the partnership, support and active engagement of community leaders, economic development specialists, environmental regulators and experts, site selectors, entrepreneurs, elected officials and other stakeholders, all working toward goals to improve, revitalize and create new opportunities. We extend our sincere gratitude to all who have played essential roles in what remains an ongoing quest to fulfill the mission before us.